Madejski Sold out and failed again

[Man Friday]

I would guess that as AZ has lost all interest he just wants shot of us. Think we will go along with whatever JM does.

I doubt it. He (his dad) didn't get rich by being so relaxed about money. He'll want the maximum he can obtain. Cu nt that he is.

[Royal Rother]

What an absolute load of bollocks.

Without SJM we would still be in League one / third tier just like we spent about 99% (you do the math, I can't be arsed to work it out to 97.45% or whatever) of out time in the Football League until he saved us.
And if you had various businesses plus yourself to look after, you telling me you would spend it all on us?

I certainly wouldn't, that's for sure. But neither has SIr Mad yet - they're all loans (to be repaid when/if he eventually manages to sell up).

Unlike some other owners who have actually given, not loaned, their clubs money. (More fool them of course but, hey, it's their money.)

I wonder what SJM's average (interest free) loan balance has been over the last 20+ years.

£20 million perhaps?

How much interest do you think he has foregone in that period?

Or do you not class that as any form of "giving"?

[multisync1830]

What an absolute load of bollocks.

Without SJM we would still be in League one / third tier just like we spent about 99% (you do the math, I can't be arsed to work it out to 97.45% or whatever) of out time in the Football League until he saved us.
And if you had various businesses plus yourself to look after, you telling me you would spend it all on us?

I certainly wouldn't, that's for sure. But neither has SIr Mad yet - they're all loans (to be repaid when/if he eventually manages to sell up).

Unlike some other owners who have actually given, not loaned, their clubs money. (More fool them of course but, hey, it's their money.)

I wonder what SJM's average (interest free) loan balance has been over the last 20+ years.

£20 million perhaps?

How much interest do you think he has foregone in that period?

Or do you not class that as any form of "giving"?

All teams have their own set of ungrateful selfish gats who whilst basking in the glory of the good times turn their back and do nothing but snipe bitch and moan when things don't go their own spoilt brat way.

[Mid Sussex Royal]

What an absolute load of bollocks.

Without SJM we would still be in League one / third tier just like we spent about 99% (you do the math, I can't be arsed to work it out to 97.45% or whatever) of out time in the Football League until he saved us.
And if you had various businesses plus yourself to look after, you telling me you would spend it all on us?

I certainly wouldn't, that's for sure. But neither has SIr Mad yet - they're all loans (to be repaid when/if he eventually manages to sell up).

Unlike some other owners who have actually given, not loaned, their clubs money. (More fool them of course but, hey, it's their money.)

I wonder what SJM's average (interest free) loan balance has been over the last 20+ years.

£20 million perhaps?


How much interest do you think he has foregone in that period?


Or do you not class that as any form of "giving"?

I am sure he IS receiving interest from the last financials I saw - probably as it is more tax efficient than sticking it in a bank as it is not taxed.

[Royal Rother]

For 20 years he received nothing.

And indeed in the 2012 accounts there was an add back to the P&L of interest that had been charged (at something silly like 1%) but never actually paid to him.

Yes, now that TSI are charging interest at more commercial rates on THEIR loans to the club, I should imagine he might well take his due now. But then again, he might not.

[Major Monkey]

Daddy daddy I really want a prawn sandwich in my bum bum

[paddy20]

I would guess that as AZ has lost all interest he just wants shot of us. Think we will go along with whatever JM does.

I doubt it. He (his dad) didn't get rich by being so relaxed about money. He'll want the maximum he can obtain. Cu nt that he is.

but if the business is leaking money?

[SpaceCruiser]

Daddy daddy I really want a prawn sandwich in my bum bum

Not sure who you are, but you seem to be an amusing guy.

[Major Monkey]

Why thank you. It was the summer of 88 when I developed a taste for a cheeky fish finger

[Derbyshire Royal]

I believe that SJM has the interests of the club at heart and could have sold out years ago. I also believe that he is a megalomaniac given the number of things he has named after himself. But he is OUR megalomaniac and has kept the team going for years. I cant believe the some of the sh!te and bile flying around.

[Man Friday]

It ain't coming from me. All I'm saying is that unlike some owners he hasn't actually given us any money - he's loaned it to us - and when he sells his shares he'll get his 'investment' back. 'Sorry' if that sounds critical or harsh but as far as I'm concerned that's factual.

I agree, he has undoubtedly been Reading's saviour.

Whether he stays our saviour remains to be seen.

[Once were Biscuitmen]

It ain't coming from me. All I'm saying is that unlike some owners he hasn't actually given us any money - he's loaned it to us - and when he sells his shares he'll get his 'investment' back. 'Sorry' if that sounds critical or harsh but as far as I'm concerned that's factual.

I agree, he has undoubtedly been Reading's saviour.

Whether he stays our saviour remains to be seen.

He's loaned the club considerable funds at pretty much zero interest so in real terms that is 'giving' us a huge amount.

SJM is aware that he is not immortal, is knocking on a bit, and that his kids have no interest in football. When he goes are we going to find 10 thousand fans ready to put 4-5k in each to buy the club and cover the first year of losses? I doubt it.

It's not as if there is a huge line of indulgent billionaires looking to lose money in a loss making industry. Anton has the cash (well his Dad did) and it appears his was the best offer anywhere near the table.

[Barney]

I rarely post on this terribly inaccurate forum of a fans site, but please let me provide you with some facts.

In 1990, OUR club was close to closure. SJM, as a local businessman, turned up and pumped 10,000 pounds a week into Reading football club to keep it alive. Don't even THINK about what might have happened 24 years ago if SJM had not been around !!

During the last two and a half decades, Reading Football Club have had success far beyond what we ever experienced in the 100+ years preceeding SJM.

The 'loan' that SJM provided to Reading FC had an interest rate of 0.5% LESS than the Bank of England officlal 'interest rate'. For the vast majority of the time that SJM has loaned money to Reading football club, he has received ZERO interest. Not a penny.

He has now 70+ years of age, and quite rightly 'wants out'. For a quarter of a century, SJM has been behind moving RFC from a 'third/fourth' tier club to a 'top 25' club in the land. Elm Park (which I loved) had to moved from. We owe SJM a great thank you for keeping OUR club alive and moving us up the brutal ladder of the football echelons.

Anybody who pops at SJM hasn't a clue. Without SJM, our club would be slagging it out with Wycombe/Poxford/Sh!ts for local pride. Yet with his backing, and money, we have managed a couple of pops at the top flight. got a decent stadium, increased average crowds from 4000 to 18000, and have stability.

This thread title is woefully inaccurate.

Rant over. See the real fans in August. Have a good summer.

[SpaceCruiser]

The trouble with this thread, nay, the forum, barney, is that everyone claims facts and everybody takes all for gospel.

What a lot of idiots on here fail to realise:

NOT EVERYTHING YOU READ ON THE INTERNET IS TRUE!

[harry]

I rarely post on this terribly inaccurate forum of a fans site, but please let me provide you with some facts.

In 1990, OUR club was close to closure. SJM, as a local businessman, turned up and pumped 10,000 pounds a week into Reading football club to keep it alive. Don't even THINK about what might have happened 24 years ago if SJM had not been around !!

During the last two and a half decades, Reading Football Club have had success far beyond what we ever experienced in the 100+ years preceeding SJM.

The 'loan' that SJM provided to Reading FC had an interest rate of 0.5% LESS than the Bank of England officlal 'interest rate'. For the vast majority of the time that SJM has loaned money to Reading football club, he has received ZERO interest. Not a penny.

He has now 70+ years of age, and quite rightly 'wants out'. For a quarter of a century, SJM has been behind moving RFC from a 'third/fourth' tier club to a 'top 25' club in the land. Elm Park (which I loved) had to moved from. We owe SJM a great thank you for keeping OUR club alive and moving us up the brutal ladder of the football echelons.

Anybody who pops at SJM hasn't a clue. Without SJM, our club would be slagging it out with Wycombe/Poxford/Sh!ts for local pride. Yet with his backing, and money, we have managed a couple of pops at the top flight. got a decent stadium, increased average crowds from 4000 to 18000, and have stability.

This thread title is woefully inaccurate.

Rant over. See the real fans in August. Have a good summer.

Wise words

[genome]

Madejski is a c**t.

[strap]

I rarely post on this terribly inaccurate forum of a fans site, but please let me provide you with some facts.

In 1990, OUR club was close to closure. SJM, as a local businessman, turned up and pumped 10,000 pounds a week into Reading football club to keep it alive. Don't even THINK about what might have happened 24 years ago if SJM had not been around !!

During the last two and a half decades, Reading Football Club have had success far beyond what we ever experienced in the 100+ years preceeding SJM.

The 'loan' that SJM provided to Reading FC had an interest rate of 0.5% LESS than the Bank of England officlal 'interest rate'. For the vast majority of the time that SJM has loaned money to Reading football club, he has received ZERO interest. Not a penny.

He has now 70+ years of age, and quite rightly 'wants out'. For a quarter of a century, SJM has been behind moving RFC from a 'third/fourth' tier club to a 'top 25' club in the land. Elm Park (which I loved) had to moved from. We owe SJM a great thank you for keeping OUR club alive and moving us up the brutal ladder of the football echelons.

Anybody who pops at SJM hasn't a clue. Without SJM, our club would be slagging it out with Wycombe/Poxford/Sh!ts for local pride. Yet with his backing, and money, we have managed a couple of pops at the top flight. got a decent stadium, increased average crowds from 4000 to 18000, and have stability.

This thread title is woefully inaccurate.

Rant over. See the real fans in August. Have a good summer.

Wise words

Spot on. I was never a fan of his in the early days - and if anyone has access to the old "RoyalMail" list from the mid to late 90's, you will see the evidence. I always had him pegged as a hard-nosed businessman, only out for what he could get. Boy was I so far off the mark! Compared to AZ, he is a paragon of virtue as far as RFC is concerned.

FWIW I think Harry has over-estimated where we would be without SJM. We could easily have slipped out of the league and been marooned in the Conference South or something similar. A few keyboard jockeys around here, (and I admit to being one once), do need to get a sense of perspective and history about RFC. I have said before, and will doubtless say again, these last 10-15 years really have been the golden years of our club that is now coming up to be 144 years old.

Whatever your views of the man, it is safe to say that these last 15 years would simply not have happened without him.

[DaveBanana]

Baffles me seeing him slated - don't know him personally, but do know is that he's extremely hurt by whats happened, and has had the option of selling in the past few months but has chosen not to because he doesnt believe in the buyers - whether that's because he wants to protect his "legacy" rather than a genuine care for the club is up for interpretation, but trying to snatch money he certainly isn't. Huge respect to him from here.. people moan now, but I imagine in the future when all thats happened comes to light, many of the naysayers will look back and be glad we didnt just sell to the first in line... Its also at least a bit different speculating about whether we have any money/future instead of whether we'll sign an ex player this summer, so assuming it does all work out, it's at least been a nice break from the norm

[Nameless]

Most of the loans were converted to shares along the way.
I'm no financial expert and I'm sure others can explain the difference (pro and con) but whereas a loan comes with interest and the possibility of being called in at any time , shares only produce a dividend in the event of a sale and if the company has increased in value, and are a long term commitment.
I also was under the impression that clubs have different tax liabilities on money just given to them compared to properly constituted loans.
I'm also not sure how many chairmen have actually given clubs money - I suspect very few have done so without getting shares in return.

[Royal Rother]

Indeed Nameless. But I think it was "only" circa £7m converted to shares from memory.

I was going to head down that path of explanation but thought there's be little point adding yet another layer of financial reality for people to ignore because it doesn't suit their agenda to the ones already outlined.