IMAMATEOFJOVSKY He's using RFC money to support his activities in other areas - ie Hotel -shouldnt be allowed
Northern Git As for how you can get an overdraft when you made a profit - easy! An overdraft is simply a loan. It tends to be non specific so is used for day to day cash needs and negates the company having to take out many smaller loans. They will have agreed a overdraft limit with a bank and can operate within this limit as and when they see fit. I believe this limit was slashed by the bank on relegation. You probably find out that the fees RFC gained from the sale of Kitson, Sonko and Shorey were used to pay this back. The perils of having no JM cash to back us up I am afraid!
Royal Lady Rev - I don't understand this. Madejski loaned the club £6 million or so, but loaned the hotel £17 million, so how is the hotel "supporting" the football club? It's directing cash away from the club to my mind.
Forbury Lion My theory - Mr Mad is panicing (or being prudent) in the current economic climate and had come to the conclusion that as no buyer is available to buy the club as a whole it makes sense to sell it piece by piece starting with players.
He sold the Degas statue, work hasn't progressed on the station approach redevelopment, the club is selling players for millions and reinvesting peanuts.
I guess multimillionaires are not recession proof.
IMAMATEOFJOVSKY
if going down meant that you fooked off, it would be even better and would be well worth it ! Cock!
winchester_royalIMAMATEOFJOVSKY
if going down meant that you fooked off, it would be even better and would be well worth it ! Cock!
I would never stop supporting my club, regardless of what league they were in.
Doubt you could say the same TBH.
Platypusswinchester_royalIMAMATEOFJOVSKY
if going down meant that you fooked off, it would be even better and would be well worth it ! Cock!
I would never stop supporting my club, regardless of what league they were in.
Doubt you could say the same TBH.
Easy to say when you're a teenager.
Royal Monk Actually i do feel that iv'e been scammed. All the money i have put into RFC over the last 20 years will not be payed back to me yet the greedy chairman wants back everything he has put in ..... doesn't seem right to me
Rev Algenon Stickleback HNorthern Git As for how you can get an overdraft when you made a profit - easy! An overdraft is simply a loan. It tends to be non specific so is used for day to day cash needs and negates the company having to take out many smaller loans. They will have agreed a overdraft limit with a bank and can operate within this limit as and when they see fit. I believe this limit was slashed by the bank on relegation. You probably find out that the fees RFC gained from the sale of Kitson, Sonko and Shorey were used to pay this back. The perils of having no JM cash to back us up I am afraid!
The question is why the club would feel the need to arrange such an overdraft after not having one at all the previous season, in a season in which they made a sizeable profit for the second year in a row? Why did they feel they needed one in 2007/8, but not in 2006/7?
Terminal Boardom Time for the club to be honest to its major stakeholders. US!
Rev Algenon Stickleback HTerminal Boardom Time for the club to be honest to its major stakeholders. US!
It'd be interesting to know if we had been totally honest and said "we've had to sell these these players to pay off debt incurred for x reason, and this season will be a season of consolidation, rebuilding with the players from the acedemy", what the reaction would have been.
It's the insistence that we are going for promotion while at the same time clearly embarking on an asset-stripping sale of the family silver, that annoys many. PR spin is one thing, but the statements from the club not only come across as blatant lies treating the fans as mugs, but also makes those running the club look stupid.
Terminal BoardomRev Algenon Stickleback HTerminal Boardom Time for the club to be honest to its major stakeholders. US!
It'd be interesting to know if we had been totally honest and said "we've had to sell these these players to pay off debt incurred for x reason, and this season will be a season of consolidation, rebuilding with the players from the acedemy", what the reaction would have been.
It's the insistence that we are going for promotion while at the same time clearly embarking on an asset-stripping sale of the family silver, that annoys many. PR spin is one thing, but the statements from the club not only come across as blatant lies treating the fans as mugs, but also makes those running the club look stupid.
The impression I get is that this club is going n the same direction as the current Labour government. Hence my hourly request on one thread or another for the club to be honest with us.
Maybe they did have one but paid it off the day before the results were finalised, then the day after ramped it back off again.Rev Algenon Stickleback H The question is why the club would feel the need to arrange such an overdraft after not having one at all the previous seasons
Wimb How honest do you want the club to be? BR said in a recent interview that we had to pay off the OD before we can spend. We've done that now and he's looking for the right players at the right price.
Would you want the club to come out and say "We've got 10 million for players" then every team would be holding us hostage saying we know how much you've got. How many other teams come out and reveal their budgets etc?
I don't recall anyone saying promotion this season was the aim. I believe the line out of the club always has been building towards promotion.
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