Madejski just couldn't resist could he..

[bobby m's syrup]

Just be thankful we haven't had the sort of people who have been running Newcastle's ship over the last few years.

Or Portsmouth?

Agreed. If you're going to use a ship for your example, it really is more appropriate that you use Portsmouth, rather than Newcastle.

Not really sure that you "run" a ship though, tbf.

Why? Newcastle is a port and has a history of ship-building.

[rabidbee]

According to my City mates, all of the money spent on the club by the sheiks are free gifts not loans to the club. Of course, most City fans are idiots...

[Hampshire Royal]

An interesting little piece:

UEFA fears English clubs facing financial meltdown
(AFP) – 1 day ago

LONDON — UEFA, European football's governing body, fear several Premier League clubs are in danger of financial meltdown if they continue to spend vast sums on signing star players.

With the global economic crisis showing no signs of easing, UEFA general secretary David Taylor is concerned that English teams could pay the price if they over-extend themselves in a bid to remain competitive.

Portsmouth chief executive Peter Storrie has already warned that his club could have to sell more stars to survive as a result of a stalled takeover bid, while Newcastle owner Mike Ashley is unable to find a buyer after his team crashed out of the Premier League last season.

Even the Premier League's big guns can't completely ignore the threat of financial crisis. Liverpool's American owners recently renegotiated the club's debt with the Royal Bank of Scotland, believed to be 290 million pounds, and have extended it for another year.

The Reds are believed to owe 350 million pounds to RBS and Wachovia, while the Glazer family borrowed 265 million pounds against Manchester United's assets to buy the Premier League champions in 2005.

Taylor uses the example of Leeds United, Champions League semi-finalists in 2001 but now playing in League One, as a cautionary tale for England's top teams.

"There are stories concerning some English clubs that are of significant concern," Taylor told BBC Radio 5 Live.

"There are a number of English clubs where the value of the club itself has fallen significantly and they are effectively on the market."

"We hope that the clubs themselves will not suffer in any significant way from this but who knows?

"We've seen what has happened in recent years with a number of very high-profile clubs, Leeds United for example. They fell into serious financial difficulties by over-extending themselves.

"In this current economic environment, I would never say never to anything like that.

"Clearly we do not see that as imminent but the concern is that we have to establish a stronger financial basis on which clubs can compete."

Copyright © 2009 AFP. All rights reserved

[Bluey]

BREAKING NEWS:- SJM quoted as saying " Could'nt really give a rats freckle about Millsy signing, much prefer to be mid champ table for a few years, then I can slip out the backdoor when no-ones looking and leave you lot to fend for yourselves. The stadium can slowly deterioate into a state of disrepair, along the lines of the classic Elm Park, and eventually head back to the 3rd & 4th divisions where we can compete with the likes of bla bla bla bla bla..................."

And I say, please John, do it, and shove it up these nego's, it would'nt bother me what league we're in, as long as we're in one of em.

' GO HARD YOU ROYALS '

[Thaumagurist*]

An interesting little piece:

UEFA fears English clubs facing financial meltdown
(AFP) – 1 day ago

LONDON — UEFA, European football's governing body, fear several Premier League clubs are in danger of financial meltdown if they continue to spend vast sums on signing star players.

With the global economic crisis showing no signs of easing, UEFA general secretary David Taylor is concerned that English teams could pay the price if they over-extend themselves in a bid to remain competitive.

Portsmouth chief executive Peter Storrie has already warned that his club could have to sell more stars to survive as a result of a stalled takeover bid, while Newcastle owner Mike Ashley is unable to find a buyer after his team crashed out of the Premier League last season.

Even the Premier League's big guns can't completely ignore the threat of financial crisis. Liverpool's American owners recently renegotiated the club's debt with the Royal Bank of Scotland, believed to be 290 million pounds, and have extended it for another year.

The Reds are believed to owe 350 million pounds to RBS and Wachovia, while the Glazer family borrowed 265 million pounds against Manchester United's assets to buy the Premier League champions in 2005.

Taylor uses the example of Leeds United, Champions League semi-finalists in 2001 but now playing in League One, as a cautionary tale for England's top teams.

"There are stories concerning some English clubs that are of significant concern," Taylor told BBC Radio 5 Live.

"There are a number of English clubs where the value of the club itself has fallen significantly and they are effectively on the market."

"We hope that the clubs themselves will not suffer in any significant way from this but who knows?

"We've seen what has happened in recent years with a number of very high-profile clubs, Leeds United for example. They fell into serious financial difficulties by over-extending themselves.

"In this current economic environment, I would never say never to anything like that.

"Clearly we do not see that as imminent but the concern is that we have to establish a stronger financial basis on which clubs can compete."

Copyright © 2009 AFP. All rights reserved

Yes, it is of a concern that some of the English clubs are in heavy debt. But have you seen how much Real Madrid have spent this summer? Why has the media not expressed concern about their finances?

[Mr Angry]

It isn't the media setting that particular agenda Spacey - its UEFA.

And we all know how anti-English they are!!

Frankly, they couldn't give a monkey's about the fact that Madrid are borrowing vast sums to simply purchase players, because what they want to see for the Champions League are teams from different countries competing in the semi's - having 3 English teams in the semi's each year is a nightmare for them, because they lose out on advertising revenues in countries like Germany and Italy if clubs from those countires aren't involved; the same applied to the rest of Spain outside the Basque region last season.

That having been said, the whole issue of clubs debt is worthy of debate, mainly because those clubs who are massively in debt, such as Man Utd, Liverpool and Arsenal can pay it back. (Its like a multi-millionaire having a 7 figure mortgage for his Sandbanks pile - its not the amount of debt thats the issue, its whether that debt can be re-paid or not) Its clubs like Pompey and probably Sunderland who will have massive problems down stream.

[rabidbee]

Depends how Real has financed the deals, doesn't it? Aren't they expecting to get a large part of the transfer money back in merchandising, for instance.

[dean horrix legend]

[/quote]
I went to EP plenty, and right side of the bank was my location. There was certainly no part of the away end unavailable when I was going between 95 and the the final game.

Other than that observation it it is indeed a cracking post.[/quote]

The ripping up happened early 80's(82?) and part of the Town end was cordoned off for a while but was repaired by 85 I'm sure.

[Thaumagurist*]

It isn't the media setting that particular agenda Spacey - its UEFA.

And we all know how anti-English they are!!

Frankly, they couldn't give a monkey's about the fact that Madrid are borrowing vast sums to simply purchase players, because what they want to see for the Champions League are teams from different countries competing in the semi's - having 3 English teams in the semi's each year is a nightmare for them, because they lose out on advertising revenues in countries like Germany and Italy if clubs from those countires aren't involved; the same applied to the rest of Spain outside the Basque region last season.

Not sure why they're making an issue of it now. They seemed to be perfectly happy for Italians and Spaniards to dominate the competition in the past. There is, of course, a simple solution. Reduce the number of clubs, i.e. 3 not 4. Or better yet, make it only champions.

That having been said, the whole issue of clubs debt is worthy of debate, mainly because those clubs who are massively in debt, such as Man Utd, Liverpool and Arsenal can pay it back. (Its like a multi-millionaire having a 7 figure mortgage for his Sandbanks pile - its not the amount of debt thats the issue, its whether that debt can be re-paid or not) Its clubs like Pompey and probably Sunderland who will have massive problems down stream.

Would Liverpool, Arsenal, Man U be able to pay the money back if they were to finish outside the Champions League places?

[rabidbee]

UEFA's agenda has changed since the arrival of Platini, who wants to open up the Champions League to more than just the few big leagues.

[Victor Meldrew]

[quote="Snowball"]I think this is a brilliant signing and says an awful lot about
what the club is doing. That is building a side with a good chance
this year and a brilliant chance next year.

We have paid out a million for a very very good manager to bring through
a young side, and now we've got a very good centre-back who could improve for 5-6-7-8 years


I truly believe that Mr (Sir) Madjeski meant what he said and that it will happen this season or next


What is especially nice about this signing is it makes all those
who said we would never spend such money, look more than a bit dumb.

Have you attended the Alan Pardew school of buzz-speak?
A "briiliant" signing.
A "brilliant" chance next year.
A"very very good" manager.
Poor young Matt Mills only warrants a "very good" centre-back comment.
Here's hoping that everything turns out as brilliantly as you believe-personally I would be hapy with "good" on all counts.

BTW regarding the original post (regardless of how good a job the chairman has done,just like some other chairmen like Whelan,Ryan and so on have done with other small clubs-they are not all Ashleys and Ridsdales out there) I find it naff as well that he trots out the same spiel every time and in fairness to FineRain I think that was his point and not that he has been a terrible chairperson.

The other point from HR's post is an interesting one.
The doom mongers have been about for years but unfortunately it tends to be the little clubs like Chester,Bournemouth and Stockport that get into real trouble and until more clubs of Leeds' size hit the skids the dreamland will probably continue and mug punters like us will still pay small fortunes to watch football in the flesh and pay to watch it on TV and players of insignificant ability like Stephen Hunt will laugh all the way to the bank-he will be depositing loads of cash but we will be taking it ours out.

[RoyalBlue]

How much has he donated- i thought the stadium money was loaned?

interest free!!

and LOL at just giving away 40 million pound-how do you think the glazers/gillette/all the other foreign businessmen finance their interest in football -its only abramovich who hasnt-even the arabs will be doing it with alot of loans-being that rich just makes loans easier to come by

and what about the 29 million losses hes bankrolled over ten years?

Are you really sure that it was interest free? Very favourable rate of interest (to the club) maybe, but I'm pretty sure the interest free halo was broken some time ago, as was him personally bankrolling losses of the magnitude that you mention. However, some still seem convinced that the Emperor is wearing the finest suit anyone has ever seen.

[Sun Tzu]

I think much of what he has put into the club has effectively been interest free as it has been converted into shares....

Other monies were, IIRC at a nominal interest rate.

From memory I also believe he did a considerable amount of underwriting of bank loans which may not have meant stumping up cash but was essential in terms of actually getting the loans and of course would have left him having to cover the debt if the club had defaulted.

As for his suits, I'm sure he uses a decent tailor but he's never really struck me as a man of fashion.

[brendywendy]

as was him personally bankrolling losses of the magnitude that you mention.

LOL

i never said any different
im not going to just forget them though like you seem able to do
and i cant for the life of me see why he should either

but he bankrolled us as we lost 29 million. that still counts you know, even if he said he doesnt want to do so any more.

and tbf i want my clunb to be self sufficient,and sensibly run
so i cant see why he gets so much grief

[Hampshire Royal]

The doom mongers have been about for years but unfortunately it tends to be the little clubs like Chester,Bournemouth and Stockport that get into real trouble and until more clubs of Leeds' size hit the skids the dreamland will probably continue and mug punters like us will still pay small fortunes to watch football in the flesh and pay to watch it on TV and players of insignificant ability like Stephen Hunt will laugh all the way to the bank-he will be depositing loads of cash but we will be taking it ours out.

How far from that point do think Newcastle, Sunderland and Portsmouth are? Or indeed Southampton? All big or reasonable sized clubs. As I read in the article, maybe even Man U and Liverpool aren't that far behind them.

As far as Spacey's point about Real Madrid goes, the article was written by a Brit about English clubs. Real have spent something like 200 million on players which when added to their astronomical wages means that Real have got to sell an awful lot of Tapas in their equivalent of the Jazz Cafe to even break even, bearing in mind that they already get full houses for most games and they've done well in CL for a number of years. As far as I can see the piece was written as a warning to English clubs to stop trying to catch clouds, if we brought foreign clubs into it, then maybe the discussion could have been extended to include Real and, perhaps, match-fixing in Italy.

[peeping bernal]

What is your problem with SJM?

All I can think is you never stood in the South Bank, having to paddle through an inch of piss to get to the burger van, the main stand had not changed in 40 years and half the away end fenced of as after Bristol ripped it up we couldn't afford to repair it.

Then this man came along with no real intrest in football 'donated' millions to give us a quality stadium which we should be proud of, 2 years in the premiership and stability that 'big' clubs like Newcastle,Pompey to name just 2 of about 60+ could only dream of.

With his 'tight wallet' we will be around for the long haul and with most clubs unsustainable spending in the next few years we will probaly start on 15 more points than most who will be in admin or bust.

I for one would rarther watch Reading for the next 40+ years in the position we are at now than one where we do a Leeds or Newcastle chasing an unobtainable target.

If you read the word 'donation' it is in commas as it was not a gift, but who makes money from a football club, hardly anyone. Also if he is owed money for this 'loan' should the club go bust he would be top of the list of creditors after HMRC as they always come first and would have first grabs on the assets, ie the ground and hotel so would get it 'back' off the club instead of lossing it to someone else.

As far as the nit picking about when the town end was repaired it was into SJM tenure and I think it was around 1995/6 season this was done as it was fenced off with scafolding poles and wire mesh for years and was just as a reference for how bad EP was compared with the luxury we have now.

I am sorry that some of you think the bloke is on an ego trip and dislike him for this but had I put in 1% of what he had into the club then I think I would like to milk the applause from the real fans who realise how lucky they are to have his support at the club and he only does what he and the fellow directors think is best for the club long term. How would you like it if we had a Risdale/Ashley/Lowe/Noades or Jordan at the helm of our finances to name and shame a few shocking directors of clubs.

[strap]

There is a huge amount of nonsense being spouted on this thread about Mr Mad's loans to the club. For goodness sake, go onto the Companies House website, pay your £1 (yes one solitary pound), and you can download the club's accounts for 07-08 (last available). Full details of all his loans, including interest rates charged, are there for all to see. There are no "gifts", no interest free loans (except to the Hotel), even when the loans are due for repayment, (on demand would you believe!!). Oh, and Mr mad owns Hogwood and charges RFC £18,000 pa rent on it.

HTH.

[FiNeRaIn]

There is a huge amount of nonsense being spouted on this thread about Mr Mad's loans to the club. For goodness sake, go onto the Companies House website, pay your £1 (yes one solitary pound), and you can download the club's accounts for 07-08 (last available). Full details of all his loans, including interest rates charged, are there for all to see. There are no "gifts", no interest free loans (except to the Hotel), even when the loans are due for repayment, (on demand would you believe!!). Oh, and Mr mad owns Hogwood and charges RFC £18,000 pa rent on it.

HTH.

Thanks strap, hopefully this'll shut up people who claim he's bankrolling us and he's donating billions,etc

[rabidbee]

So you want him to recall his loans and get out of the club, then?

As for the Hogwood rent, well Wiltshire council pretty much pays all of the funding for the project that I work on, yet they then charge us rent from that for our accomodation. It's the way of the modern world - accountants are in charge.

[Sun Tzu]

(on demand would you believe!!).
HTH.

Indeed, how much better it would be to have them on a fixed term.....

I can't believe how every time Finerain posts he makes himself look more stupid....