Bassett married Isabel Bassett in 1970. He had six children:
John F., Doug and David from an earlier marriage and Avery, Sarah
and Matthew from his marriage to Isabel. In the 1970s, son John F.
Bassett was also the owner of the Toronto Toros, a hockey team in
the World Hockey Association. Former tennis star Carling
Bassett-Seguso is the daughter of John F. Bassett.