Laurence Bassini, a client of city investment bank Seymour Pierce, revealed he was offered the club by agent Jerome Anderson, who is now working as an adviser for Venky's.
He said: "I was offered Blackburn Rovers, as Jerome Anderson is a good friend of mine, and I went to see some games there.
"There was talk of it but I decided that I wanted to be near London.
"Also I have lived near Watford all my life, it is a family club and it has that warm feeling to it.
"For me it is nice to be involved with this club. It has that family feel and I am into that.
"I am a football fan, I like watching all sorts of teams but I am a Watford fan.
"I am here and supporting Watford. I have gone to all their games this season."