Graham Taylor may quit Watford.

The Mirror says the former England manager, who saved Watford from plunging into administration two years ago by stepping into the hot seat, was fuming when owner Laurence Bassini pulled out of a fans' forum in midweek, claiming he was too ill to attend.

The Vicarage Road godfather told supporters "reliability was not Bassini's strong point" and he sometimes "acted on a whim" without considering the ­consequences.

Bassini, who bought Watford for a cut-price £440,000 earlier this year - with £10million bonds ­repayable to former majority shareholder Lord Ashcroft - responded by ­threatening to resign as a director.

He could also withhold £1m of funding unless Taylor apologised. But as outraged fans threatened protests at next week's home game with Portsmouth, Bassini yesterday climbed down from his threat to strip Taylor of his role.

The former boss is a legend at the club after guiding the Hornets to five promotions, the FA Cup final and Europe. Rattled Bassini said: "Watford has really got into my blood and I'm not going to let anything bad happen. My funding will continue while we look to resolve other matters."