The Russo brothers have ended their association with the Hornets after selling their 29.96 per cent stake in the club to Laurence Bassini’s Watford FC Limited.

It was announced to the Stock Exchange this week Valley Grown Salads, which is owned by former chairman and vice-chairman Jimmy and Vince Russo, had sold their shares, which took Watford FC Limited’s shareholding to 88.22 per cent.

This means WFCL is less than two per cent from reaching the 90 per cent shareholding which would enable the company to ‘compulsorily acquire’ the remaining shares.

Jimmy Russo, pictured, who controversially resigned before he was pushed before an annual general meeting in 2009, rejected a request for an interview but did confirm he has “absolutely nothing to do with the current takeover at all” and said he “wished the club well and every success in the future.”

Russo’s replacement as chairman, Watford legend Graham Taylor, has also spoken about the takeover for the first time since the offer from WFCL became ‘wholly unconditional’ on April 1.

In Tuesday night’s matchday programme Taylor said now “the time has arrived for the talking to stop and the action to start”.

“A period of change is always challenging for any organisation, and it’s been no different for us here at Watford,” Taylor said.

“Knowing our supporters as I do, I’m sure they’ll want to offer Laurence Bassini and his colleagues a warm Watford welcome, given his commitment to the future well-being of the club.

“Much has been said and written over these past few months. Therefore it is pleasing that the time has arrived for the talking to stop and the action to start.”