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Watford Supporters Trust statement regarding takeover (From This Is Local London)
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Watford Supporters Trust statement regarding potential takeover by owners of Udinese and Granada
11:33am Tuesday 19th June 2012 in Latest Sport
Watford Supporters Trust have released a statement regarding the pending takeover of the Hornets, where among other things they raised concerns about the Golden Boys becoming a "nursery club" for Udinese.
The statement read: Over the past few months the board have been very active in making contact and holding discussions with a number of people, which has included attending executive meetings, meeting senior employees of the club and members of the board and maintaining close links with the media. We have been active in trying to make sure that all promised payments have been made and that developments (such as the new pitch and the SW corner) are fully funded, whilst at the same time trying to ensure that funds for more peripheral activities (such as possible future revenue streams) are not likely to cause short or long-term financial problems.
In this respect we have been seeking to increase the transparency in the operation of the club and its dealings and in so doing we have also had several discussions with Mr Bassini.
We were not prepared however to fuel any of the rumours, particularly since we have had a reasonably successful season and we are continually trying to maintain stability in the club after considerable instability in many ways.
It is always difficult at a time of rumour and speculation and we have been investigating the rumours for substance, including speaking to Mr Bassini. The culmination of the rumours you will now have seen as emerging stories in the press regarding the possibility/probability of a change in ownership of the club with the new owner likely to be Signor Pozzo who owns Udinese in Serie A and Granada in the Spanish first division. There is still uncertainty about this and it is not a done deal at the time of writing. This is a fluid and rapidly changing situation after a period of comparative calm on the surface.
Will this be good or bad for the club?
At the moment there has been no sale although it may be imminent. If the club is sold to Sr Pozzo we will have an owner with a general interest in Football. There is a strong possibility that he would want to bring some of Udinese’s younger players on loan to Watford, which is what he has done with Granada. This has implications for Sean Dyche’s control over player recruitment and the academy development of young players. Two or three talented young Italians who have to fight for their place in the team may have advantages in introducing players who have a high technical proficiency. However, if they have to be played under instructions from the owner, who currently seems to see Udinese as the focus of his operations, then this would be bad and we would simply become a nursery club for Udinese. It should be noted that Granada just missed relegation last season. It is also unknown what he would think about the community involvement of the club and any withdrawal of support from the Community Trust would be a serious undermining of the role and position of the club in the community, something that Watford FC is rightly admired for.
It is unclear just how much money Mr Bassini has put into the club and there is considerable secrecy over the finances. There are indications that some of the conditions of the purchase of the club by Mr Bassini have not been met in full, e.g. delays in payments and deadlines. While this in itself is not necessarily a cause for concern, it is indicative of having to operate very close to financial limits and it is possible that the operation has been financed through player sales. Again this is not necessarily a cause for concern because it is fundamentally what we were doing before Mr Bassini took over - but previously there was complete transparency, which as sole owner Mr Bassini does not need to embrace. However, such failures could trigger action by the bond holders to take back the club or to take control over key assets against which the sale has been secured, such as the ground. It is also of concern that if there is a cash flow problem that the pitch replacement could not be completed or the club could acquire a debt that it could not pay on time.
The Trust Board have been aware of events unfolding having been in close contact with the club and having spoken with Mr Bassini. While rumour and speculation should not be a reason to react prematurely we have been monitoring the situation and have been in regular contact with a number of key people. We will be using our influence to try and ensure that any deal will protect the club and its interests. If there is a new owner we would seek a very early meeting with the new owner and/or his representatives and we would want to see members of the current board retained on a future board to ensure continuity and representatives who would champion the Watford Way and what the club stand for.
We need an owner who will buy in to the values of the club and provide an extended period of financial and organisational stability. The Trust will do everything in its power to ensure that this is what happens.
Comments(42)
pete50
says...
11:41am Tue 19 Jun 12
Sean Dyche should be worried about a new manager being appointed not this change.
Mr Bassini, Mr Simpson et al have pulled the wool over the Supporters Trust's eyes and the new owners should not worry too much about them.
As for them advising on the Board and wanting to see current members retained it is none of their business.
"The Trust will do everything in its power...."!!!
StephenKilamanjiro
says...
11:42am Tue 19 Jun 12
Don't get me wrong, it's important that the respective new owners grasp the community ethos surrounding our club, but apart from that, that's it. Change it up, let us move on, release the shackles of little old Watford. This is our opportunity....#COYH
WFCinexile
says...
11:52am Tue 19 Jun 12
KL Massive
says...
11:54am Tue 19 Jun 12
I welcome Watford evolving into something different as long as it maintains the principles that have made me follow though thick and thin. For starters Sean Dyche should be involved as I believe most of the credit for last years performance is down to his leadership.
Hope my Watford FC will live on...
Colin West's mullet
says...
11:56am Tue 19 Jun 12
I'm no lawyer, but why would Ashcroft NOT do this and then sell to Pozzo himself?
llloydwithathirdl
says...
11:59am Tue 19 Jun 12
A pointless statement full of the usual guff.
wfc cassiobury
says...
12:08pm Tue 19 Jun 12
cliff46
says...
12:25pm Tue 19 Jun 12
What a load of self important twaddle!
tonupchris
says...
12:39pm Tue 19 Jun 12
not a regular
says...
12:39pm Tue 19 Jun 12
Leicester, Cardiff, Leeds, Ipswich are still in this division.
Swansea, Reading, Norwich, Southampton have gone up in the last two years.
It's not about the amount of money you throw at it, and I am pretty sure these owners will be great for us and WON'T be splashing too much cash.
A few loans from Udinese and enough dosh to keep our better players while bringing in a couple of quality permanent signings (i.e. the Kacaniklics, Kuzszacks and Kightlys of this world) will give us a fantastic base to build on.
Colin West's mullet
says...
12:42pm Tue 19 Jun 12
not a regular wrote:new money doesn't mean instant success - but it does greatly increase the chances.
A quick word of warning to all those assuming that these owners will mean instant success:
Leicester, Cardiff, Leeds, Ipswich are still in this division.
Swansea, Reading, Norwich, Southampton have gone up in the last two years.
It's not about the amount of money you throw at it, and I am pretty sure these owners will be great for us and WON'T be splashing too much cash.
A few loans from Udinese and enough dosh to keep our better players while bringing in a couple of quality permanent signings (i.e. the Kacaniklics, Kuzszacks and Kightlys of this world) will give us a fantastic base to build on.
Dunderdale Pinner
says...
12:44pm Tue 19 Jun 12
StephenKilamanjiro
says...
12:46pm Tue 19 Jun 12
ucture first, then build on it. If we had kightly, kacanaklic and kuzszacks (or the KKK as I liked to call them) all season we would of made the play offs I think. Playoffs should be our target next season. Also, we are better than Cardiff, Leicester, Ipswich, Leeds without their wealth...
StephenKilamanjiro
says...
12:53pm Tue 19 Jun 12
Dunderdale Pinner wrote:Prime example of a doom and gloom monger...all teams have to adhere to the financial fair play system...if money is made for the football club, it stays with the football club it is made. It is either returned to the shareholders by way of dividend or used to finance the clubs trading expenditure. It's got nothing to do with economic climate, it's to more to do with the fact that they are trying to build an umbrella of European teams. They only sent players to Granada because they needed players at Granada. These guys aren't chancers like Baz, these guys have been involved in football teams, either as manager, I'm referring to Vitto Pozzo, who is the father of Giampaolo Pozzo, or owner, for the last 26 years, they have a proven track record of stability and solidarity, but done their own way. Values are important in football, I agree. But so is evolution.
A few points of concern. I hope Signor Pozzo has deep pockets. Three clubs could be a drain on his wallet. How open will he, or his son, be with supporters? Will he attend a fans forum to discuss his ideas for going forward? If WFC get to the premiership how can we ensure that the cash stays in the UK and not find its way to Italy or Spain? With the problems in the Euro for Italy and Spain is the UK a convenient place to put your money? What will be the future of the management team and in particular SD? We want to promote our Academy not have players forced on us unless they a some quality. Baz says they have a 100 players to choose from. That is not the way I would like to see WFC select their team. SD must have a say in who comes and goes. Having got a good team together and working for each other with a happy dressing room, do we really want this type of imposition? Yes I want WFC to move forward, but in the right manner. I do not want to see a lot of disruption in the dressing room.
Colin West's mullet
says...
12:57pm Tue 19 Jun 12
Dunderdale Pinner wrote:SD will not have a say in anything. He will be gone within a few days of the deal being completed.
A few points of concern. I hope Signor Pozzo has deep pockets. Three clubs could be a drain on his wallet. How open will he, or his son, be with supporters? Will he attend a fans forum to discuss his ideas for going forward? If WFC get to the premiership how can we ensure that the cash stays in the UK and not find its way to Italy or Spain? With the problems in the Euro for Italy and Spain is the UK a convenient place to put your money? What will be the future of the management team and in particular SD? We want to promote our Academy not have players forced on us unless they a some quality. Baz says they have a 100 players to choose from. That is not the way I would like to see WFC select their team. SD must have a say in who comes and goes. Having got a good team together and working for each other with a happy dressing room, do we really want this type of imposition? Yes I want WFC to move forward, but in the right manner. I do not want to see a lot of disruption in the dressing room.
jasonwatford
says...
12:58pm Tue 19 Jun 12
llloydwithathirdl
says...
1:01pm Tue 19 Jun 12
jasonwatford wrote:Absolutely. But they're not going to help themselves survive spouting nonsense like this.
Tunupchris...The trust do a whole lot of work , working with Adults , kids , disabled people , run the watford ladies girls centre of excellence football teams..do coaching at schools and run half term football courses. They are a valuable part of the club who need to be retained....
jasonwatford
says...
1:10pm Tue 19 Jun 12
SAHornet
says...
1:29pm Tue 19 Jun 12
garston tony
says...
1:54pm Tue 19 Jun 12
Udinese have 29 players out on loan and co own a further 11 players. Only 5 of the loan players are with Granada (who also have loaned a further 6 players from other clubs).
Out of the first team squad of 33, the youth team of 27 and the loaned out/part owned players none appear to have come from Granada. Udinese themselves have loaned 2 players from other clubs.
By all acounts Granada were on the verge of insolvency when Pozzo bought them and Udinese did loan a considerable amount of players to Granada. 5 is still a lot from one club but it seems that Granada are also relying on loan players from other sources too to make up numbers.
This suggests to me that Pozzo's ownership may not just be about feeding/supporting Udinese, if so why only 5 loan players to Granada out of 29 when that club is having to loan a further 6 from other clubs? If it was all about Udinese why not 11 out of 11 to Granada?
Watford despite its recent troubles are in a much better position that Granada in terms of finances and squad so it makes me think that maybe Pozzo is interested in Watford as its own going concern. A few loan players yes to boost us and them along, with the hope of promotion and staying in the prem where the riches will roll in.
By the way Wikipedia already states Pozzo has bought WFC!
mooneysmagic
says...
2:11pm Tue 19 Jun 12
jasonwatford wrote:They should stick to these matters rather than try to sabotage the proposed takeover. Whilst the future success or otherwise of the new owners is not known they must be a better bet than Bankrupt Baz.
Tunupchris...The trust do a whole lot of work , working with Adults , kids , disabled people , run the watford ladies girls centre of excellence football teams..do coaching at schools and run half term football courses. They are a valuable part of the club who need to be retained....
@heathFMResearch
says...
2:19pm Tue 19 Jun 12
In the summer of 2009, the club was literally two weeks from closure, until the Pozzo family arrived. Since that summer, the club has gained two consecutive promotions and survival in the Primera, albeit by the skin of their teeth last season.
Fact is, without the Pozzo family, Granada CF would no longer exist. Whilst they're not Russian or Arabian oil billionaires, they are solid and supportive football people, who know how to run a football club well.
They cleared the debts and provided meaningful investment at Granada. Loaning players from Udinese obviously helped a great deal initially, certainly with the two promotions.
Granada CF is now one of very few clubs in Spanish football, free of debts. They're now a club with genuine potential for progress and in recent years, referring to the "meaningful investment" I mentioned earlier, have established a rapidly developing youth system - with 90% of the youth players being from Granada province.
I genuinely believe that the Pozzo family will want to preserve and improve upon what is already successful at Watford. They will not pump stupid amounts of money into the club, but they will invest wisely, in order to push Watford towards the Premier League.
Some may be concerned that Watford might become a "nursery" for Udinese. Look at how Udinese themselves have grown as a club over the last ten years. They will never go toe-to-toe financially against the giants of Italian football. They won't ever get the same level of sponsorship and don't have a huge supporter base.
They've invested wisely in players. This is the key. This is the "Udinese Model" at work. The same approach is being used at Granada CF and will likely be used at Watford.
I genuinely believe the Pozzo family taking control of Watford, will be a very positive thing. From the perspective of a Granada CF supporter and reporter, I've seen at first hand how they work - and have been extremely impressed.
Don't expect huge investments, or instant success, but do expect a club that will be managed extremely well and will certainly grow.
tonupchris
says...
2:28pm Tue 19 Jun 12
@heathFMResearch wrote:Sounds very good and more importantly sensible.
I've lived in Granada for the last eight years and have followed the club since the Tercera, the fourth tier of Spanish football. They gained promotion to Segunda B4, but still struggled financially. Since following the club and reporting for various media in recent years, it's been an amazing journey.
In the summer of 2009, the club was literally two weeks from closure, until the Pozzo family arrived. Since that summer, the club has gained two consecutive promotions and survival in the Primera, albeit by the skin of their teeth last season.
Fact is, without the Pozzo family, Granada CF would no longer exist. Whilst they're not Russian or Arabian oil billionaires, they are solid and supportive football people, who know how to run a football club well.
They cleared the debts and provided meaningful investment at Granada. Loaning players from Udinese obviously helped a great deal initially, certainly with the two promotions.
Granada CF is now one of very few clubs in Spanish football, free of debts. They're now a club with genuine potential for progress and in recent years, referring to the "meaningful investment" I mentioned earlier, have established a rapidly developing youth system - with 90% of the youth players being from Granada province.
I genuinely believe that the Pozzo family will want to preserve and improve upon what is already successful at Watford. They will not pump stupid amounts of money into the club, but they will invest wisely, in order to push Watford towards the Premier League.
Some may be concerned that Watford might become a "nursery" for Udinese. Look at how Udinese themselves have grown as a club over the last ten years. They will never go toe-to-toe financially against the giants of Italian football. They won't ever get the same level of sponsorship and don't have a huge supporter base.
They've invested wisely in players. This is the key. This is the "Udinese Model" at work. The same approach is being used at Granada CF and will likely be used at Watford.
I genuinely believe the Pozzo family taking control of Watford, will be a very positive thing. From the perspective of a Granada CF supporter and reporter, I've seen at first hand how they work - and have been extremely impressed.
Don't expect huge investments, or instant success, but do expect a club that will be managed extremely well and will certainly grow.
jasonwatford
says...
2:57pm Tue 19 Jun 12
Dunderdale Pinner
says...
3:07pm Tue 19 Jun 12
a1derek
says...
3:12pm Tue 19 Jun 12
garston tony
says...
3:20pm Tue 19 Jun 12
StephenKilamanjiro
says...
3:34pm Tue 19 Jun 12
Alex Hillcroft
says...
3:40pm Tue 19 Jun 12
Deluded old duffers!
No doubt Sr Pozzo is just waiting for the WST's stamp of approval before getting his cheque book out.
lutondown
says...
4:02pm Tue 19 Jun 12
Alex Hillcroft wrote:LOL
"We will be using our influence to try and ensure that any deal will protect the club and its interests."
Deluded old duffers!
No doubt Sr Pozzo is just waiting for the WST's stamp of approval before getting his cheque book out.
WFC4ever
says...
4:30pm Tue 19 Jun 12
These guys seem to be football people at least.
Mjp99
says...
4:41pm Tue 19 Jun 12
If so , someone tell them they failed please and to jog on
corbindallas
says...
4:41pm Tue 19 Jun 12
BWood_Horn
says...
4:52pm Tue 19 Jun 12
Thus far in the club’s recent history we have been owned by a variety of interests, whose only commonality appeared to be their ability to push us towards insolvency. We now appear to be ‘wanted’ by a group whose core business is football. We have seen what happens to clubs, such as ourselves, with small fanbases when they try to imitate the large debt-ridden enterprises that command the premier league. A common phrase used when discussing many aspects of what our club does is “The Watford Way”. Perhaps the link up between our Italian and Spanish partners – feeding each other players – is a better example of “The Watford Way” than the unsustainable wage demands of ‘bought in’ players paid for with the promises of next year’s TV revenue. This appears to be a very exciting time for WFC and it also appears to offer our club the first period of security we’ve had for, what seems, an awful long time.
I am writing this letter, because I feel that the views and forebodings of Prof Fawell and the WST are not representative of the club’s supporters.
lutondown
says...
5:15pm Tue 19 Jun 12
BWood_Horn wrote:Yep
Like many of my fellow Hornets and Hornettes, I read the Watford Supporters Trust (WST) response, to the proposed Udinese takeover with some interest. Unfortunately, it appears that the WST’s published comments have very little in common with the views of the vast majority of supporters on www.wfcforums.com – a very large and diverse section of support and, normally, opinion.
Thus far in the club’s recent history we have been owned by a variety of interests, whose only commonality appeared to be their ability to push us towards insolvency. We now appear to be ‘wanted’ by a group whose core business is football. We have seen what happens to clubs, such as ourselves, with small fanbases when they try to imitate the large debt-ridden enterprises that command the premier league. A common phrase used when discussing many aspects of what our club does is “The Watford Way”. Perhaps the link up between our Italian and Spanish partners – feeding each other players – is a better example of “The Watford Way” than the unsustainable wage demands of ‘bought in’ players paid for with the promises of next year’s TV revenue. This appears to be a very exciting time for WFC and it also appears to offer our club the first period of security we’ve had for, what seems, an awful long time.
I am writing this letter, because I feel that the views and forebodings of Prof Fawell and the WST are not representative of the club’s supporters.
garston 'orn
says...
5:16pm Tue 19 Jun 12
Dunderdale Pinner wrote:Stop being a killjoy, if they want to splash cash then they should have choice of manager, dyche has done wonders for us and it will be sad to see him go if it is true. But especially for foreign players and our own, having one of the best strikers to live as manager is pretty motivating, anyway deeney, garner and iwelumo could do with somwone showing the mwhere the goal is
A few points of concern. I hope Signor Pozzo has deep pockets. Three clubs could be a drain on his wallet. How open will he, or his son, be with supporters? Will he attend a fans forum to discuss his ideas for going forward? If WFC get to the premiership how can we ensure that the cash stays in the UK and not find its way to Italy or Spain? With the problems in the Euro for Italy and Spain is the UK a convenient place to put your money? What will be the future of the management team and in particular SD? We want to promote our Academy not have players forced on us unless they a some quality. Baz says they have a 100 players to choose from. That is not the way I would like to see WFC select their team. SD must have a say in who comes and goes. Having got a good team together and working for each other with a happy dressing room, do we really want this type of imposition? Yes I want WFC to move forward, but in the right manner. I do not want to see a lot of disruption in the dressing room.
Sy
says...
6:24pm Tue 19 Jun 12
lutondown wrote:The message I got from the statement wasn't doom and gloom as much as "they're football people which is a good sign but let's see what the business proposal is".
BWood_Horn wrote:Yep
Like many of my fellow Hornets and Hornettes, I read the Watford Supporters Trust (WST) response, to the proposed Udinese takeover with some interest. Unfortunately, it appears that the WST’s published comments have very little in common with the views of the vast majority of supporters on www.wfcforums.com – a very large and diverse section of support and, normally, opinion.
Thus far in the club’s recent history we have been owned by a variety of interests, whose only commonality appeared to be their ability to push us towards insolvency. We now appear to be ‘wanted’ by a group whose core business is football. We have seen what happens to clubs, such as ourselves, with small fanbases when they try to imitate the large debt-ridden enterprises that command the premier league. A common phrase used when discussing many aspects of what our club does is “The Watford Way”. Perhaps the link up between our Italian and Spanish partners – feeding each other players – is a better example of “The Watford Way” than the unsustainable wage demands of ‘bought in’ players paid for with the promises of next year’s TV revenue. This appears to be a very exciting time for WFC and it also appears to offer our club the first period of security we’ve had for, what seems, an awful long time.
I am writing this letter, because I feel that the views and forebodings of Prof Fawell and the WST are not representative of the club’s supporters.
That seems fair enough to me. It's fairly clear we're going to have new owners one way or another so it's then just a case of understanding who they are and what their plans for the club are. I'm not sure it's possible to make any sort of informed opinion on whether this would potentially be a good or a bad thing until we know that.
As for whether the WST is representative of the club's supporters, I assume it is representative of its members which is all it can ever be. Supporters' Trusts have proven to be a very valuable tool elsewhere as they provide a forum and mouthpiece for fans' views which are independent from the club itself.
The WST does seem to have a certain amount of access to the club and to the media. If you don't think it represents your views and those of other supporters then it might be worth joining to give those views. Although the amount of influence any supporter's body has with the club will depend on the regime in place at any given time, the club and the media are more likely to speak to an organisation like that than they are to wade through the hundreds of comments on forums and comment boards.
One thing that everyone seems to agree with, though, is that the club needs a period of stability, no matter who the new owners are.
Chris the Vic
says...
8:21am Wed 20 Jun 12
I have read the reassurances from the trust that following their meeting with Boy Blunder we could rest easy about the way WFC was run.
Both of the above statements were wrong. However there was one difference. Chamberlain resigned whereas we still have to suffer from statements from the Trust.
In the final analysis it is fair to say most of our recent chairman appear economic with the truth and lack transparency, albeit I still have not seen evidence to prove that LB has not acted well, but do not ever expect me to trust the Trust. The words well meaning, incompetent, full of their own perceived importance and fools spring to mind.
BWood_Horn
says...
10:16am Wed 20 Jun 12
@Sy: thank you for sharing your understanding of what the WST’s statement said. I’ve always wondered what the actual role of organizations, such as WST, was. As a rebuttal, I’m going to become exceptionally pompous and share my understanding of English grammar. A “Supporters’ Trust” would be an association that belonged to the supporters, whereas a “Supporters Trust” would a society be for supporters – very different things. Perhaps you could inform me what role the WST has taken as, at present, it appears to fulfil neither. I am always exceptionally cautious and sceptical about any organization that claims to ‘support’ me and my views. Thus, the WST appears to be nothing more than a source of quotes for lazy journalists to fill copy with – a role at which the WST excels.
As to your suggestion to join WST so my viewpoint could be heard, I am a Marxist so: “… I DON'T WANT TO BELONG TO ANY THAT WILL ACCEPT PEOPLE LIKE ME AS A MEMBER".
I will mot be entering into any further correspondence with you on the WO website, but please feel free to join in the ongoing ‘debate’ on the appropriate bulletin board.
sherlock65
says...
3:35pm Wed 20 Jun 12
First of all, I think for a “small” team it’s a great luck to find as owners competent businessmen specialist in football like the Pozzo family.
But forget about huge investments, buying top players and so on. They are not sheiks of russian oil tycoons who buy a new toy. They want a sound and stable business.
And that is good, usually teams bought as a “toy” by a multimillionaire searching something new, remain broken toys with crashed budget when he becomes bored.
The thing Udinese is most well known for in Italy football is her network of “watchers”.
While the “big teams” go spending 20 M€ for already famous and overpaid champions, with half of that money meanwhile Mr. Pozzo will buy 10-15 talented young and not yet famous players, or maybe some more experienced, free from contract or undervalued.
Each year some of these go playing in Udinese, some others go on loan. Some will shine: big teams will offer them rich salaries. Mr. Pozzo maintains a strict salary cap and only wants motivated people. So these are sold and new ones will come.
In 2011 Udinese (which, keep in mind, is from a small city with 90.000 inhabitants) arrived 4th in Serie A.
In summer they sold three of their top players, for a total of 50 M€, substituting them with quite unknown players.
This year they arrived 3rd in Serie A!
It’s not so good each year of course, but it explains how Pozzo family manage their teams.
If this Pozzo-Watford affair goes, forget about the buying of top players with huge salaries. Get used to see your best players each year sold to “big teams” and to learn the names of new players, probably to discover they are as good as the previous ones.
You probably will not win the Champions League, but you can have a lot of satisfactions from the fact that your team has a sound budget and can play well and reach good positions, even against “big teams” which spend in salaries 20 times as much.
Personally, for my Udinese, I think that’s great!
Oh, and by the way, about winning the Champions League. The day the words “financial fair play” will not be just empty words and only teams with sound budget will be admitted to UEFA competitions, the teams of Mr. Pozzo will probably be among the few admitted teams.
watford1881
says...
9:44am Thu 21 Jun 12

a1derek says...
11:39am Tue 19 Jun 12