Confimred new owners of Raeding Footbal Club

[maffff]

I'm hearing a deal is nearly done with an Italian consortium.

I'm hearing your club owner is having his assets frozen...

Keep on topic.

*our.

Happy?

[Uke]

I'm hearing a deal is nearly done with an Italian consortium.

I'm hearing your club owner is having his assets frozen...

And ours (if he had any assets)

[Sutekh]

I've bought a bucket from B&Q for you all to throw your loose change into next season when the club brings the Administrators in.

"There's a hole in your bucket, dear Floydie, dear Floydie...

I got a bucket from KFC.....

[SPARTA]

I've bought a bucket from B&Q for you all to throw your loose change into next season when the club brings the Administrators in.

"There's a hole in your bucket, dear Floydie, dear Floydie...

I got a bucket from KFC.....

You haven't got a leg to stand on!

[loyalroyaldaz]

No activity to report yet.

My God Andy Bernal has changed a bit

[Ian Royal]

Surely any take over by anyone is predic8ed by Anto, firstly, wanting to sell and, secondly, his valuation being met. Madejski and the club can negotiate all they want with potential buyers but more than 50% of the club is not theirs to sell.

Samuelson is still knocking around. So I think it's reasonable to assume that given Anton's disappeared and SJM has official control of the club that SJM has the ability to negotiate on Anton's shares with Samuelson (and Obolenski?) assuring that his interests are looked after.

[andrew1957]

Just a naïve question but if the club is being touted around for just £20M in TOTAL this sounds astoundingly cheap. The Stadium cost over £50M to build and the hotel was added later at presumably the cost of quite a few more million. It used to be banded about that the club was valued at around £80M - which sounds reasonable for all that infrastructure.

So is the £20M just to SJM with more to AZ - and/or does the club have say £50M of debt still which is taken over as part of the deal. I find this odd. Does anyone know the reality.

[Big Ern]

Just a naïve question but if the club is being touted around for just £20M in TOTAL this sounds astoundingly cheap. The Stadium cost over £50M to build and the hotel was added later at presumably the cost of quite a few more million. It used to be banded about that the club was valued at around £80M - which sounds reasonable for all that infrastructure.

So is the £20M just to SJM with more to AZ - and/or does the club have say £50M of debt still which is taken over as part of the deal. I find this odd. Does anyone know the reality.

Who said £20million or is it just rumours?

Also Hotel would be sold separately, maybe even the stadium.

[Ian Royal]

Just a naïve question but if the club is being touted around for just £20M in TOTAL this sounds astoundingly cheap. The Stadium cost over £50M to build and the hotel was added later at presumably the cost of quite a few more million. It used to be banded about that the club was valued at around £80M - which sounds reasonable for all that infrastructure.

So is the £20M just to SJM with more to AZ - and/or does the club have say £50M of debt still which is taken over as part of the deal. I find this odd. Does anyone know the reality.

Well the deal for the whole club last time was £25m. Half of which was paid for 51%. I don't see why anyone would be surprised by this amount. We were £80m as a PL concern and aspirational price. We're now bollocksed on money with a massive wage bill.

[1871 not 1998]

Just a naïve question but if the club is being touted around for just £20M in TOTAL this sounds astoundingly cheap. The Stadium cost over £50M to build and the hotel was added later at presumably the cost of quite a few more million. It used to be banded about that the club was valued at around £80M - which sounds reasonable for all that infrastructure.

So is the £20M just to SJM with more to AZ - and/or does the club have say £50M of debt still which is taken over as part of the deal. I find this odd. Does anyone know the reality.

Who said £20million or is it just rumours?

Also Hotel would be sold separately, maybe even the stadium.

As per the Daily Mail article which was with Nick Harris and Anton himself, the TSI deal was £20m (£25m because of promotion bonus to SJM) for all 100% but in parts - 12.7m for 51% and then 12.3% for the remaining 49%; so why are people struggling to accept it's £20m again now all in?

[loyalroyaldaz]

Does anybody get the impression SJM doesnt really give a monkeys anymore as long as gets his £20m?
He says all the right things of course but why wouldnt he if he is trying to sell?

[From Despair To Where?]

The club has never realistically been worth £80m and I'm pretty sure the cost of building the stadium was £35-40m, £20m of which was swallowed up by decontaminating the land and partly funding the relief road.

[1871 not 1998]

Does anybody get the impression SJM doesnt really give a monkeys anymore as long as gets his £20m?

How about you read the above posts before making inaccurate comments like that?

[andrew1957]

But the AZ deal presumably also meant that he repaid all the debt to SJM as well (perhaps another 25M?)

If the club is now debt free then it must be worth a great deal more than 20M. If not buying it is a no brainer as a new owner could easily recoup 20M by selling the entire first team squad (ALF 2m, Pog 2M, McCleary 4M, McCarthy 5M, Gunter 2.5M, Fed 1M, Williams 2M and Obita must be worth a bit - plus release Gorkks, McAnuff, Roberts, Legs, Taylor etc) in the summer and could then play the youngsters next season, so would effectively solve the wage bill and buy the club (including a 50M stadium) for nothing. They might not be popular though!

Sounds like a plan. I think I might give SJM a call.

[1871 not 1998]

The club isn't debt free though, the debt has just moved around. I think this has been covered already. Maybe someone with more experience of our accounts will be good enough to discuss again?

[loyalroyaldaz]

Does anybody get the impression SJM doesnt really give a monkeys anymore as long as gets his £20m?

How about you read the above posts before making inaccurate comments like that?

How about you go fcuk yourself?

[1871 not 1998]

Does anybody get the impression SJM doesnt really give a monkeys anymore as long as gets his £20m?

How about you read the above posts before making inaccurate comments like that?

How about you go fcuk yourself?

[3points]

The club isn't debt free though, the debt has just moved around. I think this has been covered already. Maybe someone with more experience of our accounts will be good enough to discuss again?

The club had about £28m in debt owing to TSI/Anton and SJM. Plus another £4m to the bank at the time (Barclays I think).

Since then (30 June 2013) the club will have racked up more losses (and therefore, probably more debt to fund the losses - eg Vibrac, and I expect more owed to Anton).

So, if anyone is paying £20m for the shares, they will also need to fund the repayment of all debts. Also, bear in mind if we are not promoted, the club will continue to run at a loss (unless significant players are sold and wages reduced) which requires someone to fund these ongoing losses.

To pay £20m today for the shares is likely to cost the buyer well in excess of £50m, and probably a lot more, and that's before they start trying to buy any new players. Of course, the new owner can borrow money secured by the assets of the club. RFC has always had bank loans, as these funded the stadium build, so it is not something untoward to help fund the acquisition using the assets of the club (although many will not be happy, as per the Glazers takeover of MUFC)

The hotel is totally separate and is owned by Reading Football Club Holdings, the company that SJM owns that holds his 49% shareholding in the football club.

[UpThePrem]

We're gonna get Maradona as manager

WIth ZZ as first team coach.

[jellytot]

We're gonna get Maradona as manager

WIth ZZ as first team coach.

The way Maradona looks at the moment (tub of lard) we may attract McDonalds as sponsors