Madejski Sold out and failed again

[Derbyshire Royal]

Its clear that SJM has saved the club in the longer term, Smee in the short term.

But apart from the keyboard warriors on this forum you only need to see how he is received by the crowds at away games. The reception he got a Doncaster was amazing, I don't think that many chairman would get the same reception.

The fact that fans are unhappy with just missing the playoffs for the premiership shows the level to which we now aspire, when SJM took the helm we were at best a sh!te 3rd division club. I remember the creation of the first division society (?) and scoffing at it as we would never get anywhere.

How times have changed.

[3points]

There aren't many benefactors who just give money to their club. It is normally in the form of a loan which enables it to be repaid more easily, and any interest charged is tax deductible. However, some clubs are then forced to convert the loans into equity to ensure the auditors can sign off the club as a going concern (plus the taxman has his say on loans that are in effect never going to be repaid)

[MeMeMe]

Its clear that SJM has saved the club in the longer term, Smee in the short term.

But apart from the keyboard warriors on this forum you only need to see how he is received by the crowds at away games. The reception he got a Doncaster was amazing, I don't think that many chairman would get the same reception.

The fact that fans are unhappy with just missing the playoffs for the premiership shows the level to which we now aspire, when SJM took the helm we were at best a sh!te 3rd division club. I remember the creation of the first division society (?) and scoffing at it as we would never get anywhere.

How times have changed.

Well said... and as SJM has said many a time, any owner now needs very very deep pockets to keep a club in the top flight.

[3points]

FWIW, Samuelson is the guy running around trying to find potential buyers. He was the one who found AZ and brokered the original deal. I'd be surprised in the original purchase agreement that either AZ or SJM will be able to sell without the consent of the other party if someone wants to buy the whole club.

[Man Friday]

Barney, et al, for the record I agree with virtually every word you've written.

But, equally, he's no Jack Walker. Walker (and some others) have pumped money into their clubs whereas Sir Mad has loaned the club money. Fact.

Do I criticise him for that? No. Would I give the club money if I was that wealthy? No. Would I loan the club money if I was that wealthy? Also no. Would I have preferred him to have GIVEN the club money? Yes, of course. But I don't blame him for not doing so.

Our success in recent years has been down to Sir Mad and I thank him for that (as I did when I met him once).

[Pseud O'Nym]

Barney, et al, for the record I agree with virtually every word you've written.

But, equally, he's no Jack Walker. Walker (and some others) have pumped money into their clubs whereas Sir Mad has loaned the club money. Fact.

Jack Walker funded Blackburn through loans which were only converted into shares after his death when the club was put on sale. Even that famous pisser of money up the wall of football Abramovich is still owed all the dosh he's put into Chelsea http://www.theguardian.com/football/2010/may/19/roman-abramovich-chelsea-loan-debt These "others" you refer to are really a myth.

[Royal Rother]

I believe he converted the loan to capital (shares) after that article was written.

[Pseud O'Nym]

I believe he converted the loan to capital (shares) after that article was written.

Okay, I'm not in a position to check that at the moment, however the point still stands re Jack Walker who is often cited as someone who 'gave' money

Two years ago Rovers announced that Walker's trustees had converted £14m of loans into shares, then in January 2007 they converted a further £80m into shares. Another £3m loaned interest-free to the club last year took the Walker investment in Blackburn Rovers to £97m. Then, finally, the trustees decided they had spent enough. Walker had charged them with growing his businesses financially and, although they have not explained their decision, it is assumed they view the club as a drain. The family, although the beneficiaries of their father's estate, are not understood to have a formal involvement in its administration.

Man Friday's error was not to put 'Fact' in capitals.

[Derbyshire Royal]

NOT EVERYTHING YOU READ ON THE INTERNET IS TRUE!

Is this true?

[Ian Royal]

NOT EVERYTHING YOU READ ON THE INTERNET IS TRUE!

Is this true?

No. It's nothing you read on the internet is true.

Hang on. PARADOX!

[Extended-Phenotype]

He could have just walked away, but he hasn't

How could he have and why would he have walked away, exactly?

[sandman]

He could have just walked away, but he hasn't

How could he have and why would he have walked away, exactly?

How and why has Zingarevich walked away?

[SCIAG]

I believe he converted the loan to capital (shares) after that article was written.

Only in order to comply with some regulation. Probably FFP.

[Man Friday]

He could have just walked away, but he hasn't

How could he have and why would he have walked away, exactly?

How and why has Zingarevich walked away?

He hasn't. (unfortunately.)

[poohs pure]

Madejski Sold out and failed again

That is a rubbish.... How can it be SJM Fault? bullshit who put this up... he has no owner to back him up Anton Piss off back to Russia didn't what to no
SJM is trying to get a new owner soon he will.

Nope, you lost me there Dave.

[Who Moved The Goalposts?]

Madejski Sold out and failed again

That is a rubbish.... How can it be SJM Fault? bullshit who put this up... he has no owner to back him up Anton Piss off back to Russia didn't what to no
SJM is trying to get a new owner soon he will.

Nope, you lost me there Dave.

I have a hunch that Dave Royal is actually Yoda after he's been on the Absynth.

[SPARTA]

Its clear that SJM has saved the club in the longer term, Smee in the short term.

But apart from the keyboard warriors on this forum you only need to see how he is received by the crowds at away games. The reception he got a Doncaster was amazing, I don't think that many chairman would get the same reception.

The fact that fans are unhappy with just missing the playoffs for the premiership shows the level to which we now aspire, when SJM took the helm we were at best a sh!te 3rd division club. I remember the creation of the first division society (?) and scoffing at it as we would never get anywhere.

How times have changed.

Excellent post that echos many memories for me being a young Reading fan and being told I'd never see Reading in a new modern 'super stadium', as they were called then; and I wouldn't see us play in the top flight. Nowadays I hear fathers tell their kids they'll never see us play in Europe, yet look at the likes of Hull and Ipswich who have achieved just that with clubs no bigger than ours.

SJM has done an amazing job here, but sadly he has done all the good he can do and now frustratingly it may start to crumble around him because he unfortunately sold the club to an irresponsible c**t. But the foundations are still there, and there will be brighter days again in the future. As much as Madejski's mistakes in recent years frustrate me, I can't being myself to jeer him; not after everything he has done for the club.

It'll be a very sad day when SJM walks away.

[Extended-Phenotype]

He could have just walked away, but he hasn't

How could he have and why would he have walked away, exactly?

How and why has Zingarevich walked away?

Hmmm. Pretty sure out of the two of them, it's JM who has been frantically trying to sell RFC for a couple of years short of a decade because he is financially dicked.

[Ian Royal]

Er, yeah, because he won't just walk away.

[loyalroyaldaz]

He wont walk away because he wants the place to bare his name for eternity.
I do appreciate that he was there back in the day but i wont budge from my view that he has benefitted as much as the club has over the years not necessarily financially but the contacts and kudos he wanted.
I always believed that when he got his knighthood and ran out of things to put his name to he would want out.
I havent changed my mind...