Confimred new owners of Raeding Footbal Club

[Extended-Phenotype]

I like the way the threat of debt spells the end of Reading Football Club with players not getting paid and a team splitting clear-out, while for other clubs it is an accepted, almost normal state of existance.

Debt is obviously not a favourable condition but it happens and the end of the world it isn't.

Quite lol-worthy though, that despite spending shit all we still might have managed to fook ourselves financially and won't even have the comfort of having watched some decent players kick the ball around in a Reading shirt.

"Yeah, we signed Nick Blackman and the club went bust".

[Norfolk Royal]

That tweet from the BBC guy saying the exclusivity agreement is 'close to expiring' is meaningless.

What does close mean? An hour, two hours, two weeks, two months, two years?

Of course it is close to expiring, they are not indeterminate ffs.

[multisync1830]

That tweet from the BBC guy saying the exclusivity agreement is 'close to expiring' is meaningless.

What does close mean?

imho

An hour, = stupidly close
two hours, very very close
two weeks, = close
two months, getting close
two years? not close at all

[DaveBanana]

I have somewhere between little and no idea of how it all works, but surely as long as TSI still own a part of the club we can't "not afford" to pay wages? They cant just ignore their 51% because they don't fancy it anymore, I'd have thought that they either have to pay their agreed share of wages, or declare themselves bankrupt? Or, maybe just maybe, it's all made up

[Extended-Phenotype]

I am Forum Death. You need to leave, Dave Banana. RIGHT NOW.

[Terminal Boardom]

I like the irony that the next game is against Leeds Utd.

[PieEater]

Normally the club would be selling next years season tickets so there could be some truth to them missing money that they would have expected to have.

Unless they can get the prospective new owners to agree to them spending some of their potential income now they have little option but to get a loan.

[wally bassoon]

I am Forum Death. You need to leave, Dave Banana. RIGHT NOW.

[DaveBanana]

I am Forum Death. You need to leave, Dave Banana. RIGHT NOW.

Erm, I, Um... I mean... what I was trying to say, until you clearly misunderstood, was that we're doomed. It's over. All over. Russians pulled all funding when we signed the Homophobia pledge a few weeks back.




(....better?)

[Extended-Phenotype]

This forum is mine.

[sandman]

This forum is mine.

Commiserations.

[Extended-Phenotype]

Sandman...

[sandman]

Sandman...

Go ahead, I like the quiet.

[Extended-Phenotype]

I need to ask Libertine what to do next.

[wally bassoon]

I need to ask Libertine what to do next.

I think your problem is that you are attempting this alone, you need the other three.

[PremAddict]

That tweet from the BBC guy saying the exclusivity agreement is 'close to expiring' is meaningless.

What does close mean?

imho

An hour, = stupidly close
two hours, very very close
two weeks, = close
two months, getting close
two years? not close at all

A reasonable opinion. If some entity is serious about a buyout, the exclusivity is to cover time for due diligence. In "normal" commercial business, exclusivity in the range of 6 months is not all that uncommon so the tweet is a bunch of bunk IMHO.

[LoyalRoyalFan]

Wow, John Madejski really has lost the plot if that is true, and it's not the first time this season that these rumours have come out. Since when is gambling a clubs future by taking loans against future ticket receipts a good idea? We should have sold one or two in January and asked Adkins to promote a couple of the youngsters, and start his summer rebuilding early. So now we're not only hoping this new owner passes the fit and proper test with the Football League this month, but we're also hoping they are prepared to put substantial funds into the playing staff just to keep the bang average squad we have, before even considering adding to it. Pardon me for not feeling optimistic about our future. Well done John! At least you gambling on our future ensures you still get your money for your shares though aye!

Moan, moan, moan.

You're seriously the worst poster on this forum, get back to Twitter.

[RoyalBlue]

Hang on, the only rumour I've heard is that we will struggle to pay wages next year.

Which can be sorted by clearing out any contracts expiring and offering up anyone on big money for next to nothing incoming.

There were rumours before xmas that we may be in trouble come February as we couldn't afford the wages. Then the transfer window came and went and although we didn't spend (and Sharp and Baird came off the wage bill), we didn't sell either. But that same rumour appears to have resurfaced today regarding getting to the end of the season. I don't think anyone is any the wiser about what state we're in. All we are sure about is SJM being extremely keen to sell.

So despite once again investing relatively little when we got to the PL, we have already managed to blow the money we made from getting there and are currently spending more than the parachute money? If true, then Madejski really is god the way he manages to create black holes! And this whilst the club remained under his stewardship as Chairman i.e. if he didn't like the way it was being run he could have resigned as Chairman to make that very point.

[multisync1830]

That tweet from the BBC guy saying the exclusivity agreement is 'close to expiring' is meaningless.

What does close mean?

imho

An hour, = stupidly close
two hours, very very close
two weeks, = close
two months, getting close
two years? not close at all

A reasonable opinion. If some entity is serious about a buyout, the exclusivity is to cover time for due diligence. In "normal" commercial business, exclusivity in the range of 6 months is not all that uncommon so the tweet is a bunch of bunk IMHO.

Indeed but if the agreement is with the Omani's then the exclusivity maybe for a far shorter period because they have been looking at the club for pretty much a year already ?

[Ian Royal]

If you believe everything that has supposedly come out of the club this season then we took a loan out with Vibrac to receive the parachute payment early, and then took another loan out against future ticket sales. When did Si John become that erratic? Come on! We know he would have sold some of the high earners first, both in the summer and in January. I'm sorry, but I cannot buy this at all. The Vibrac loan I can, just about, but not the latter.

Hadn't heard the future ticket sales one. That way madness lies so I hope it isn't true.

We should know in the summer with SJM in charge because if it's true it'll be cheap freebies in and everything must go sales for the squad. He'd never sell us down the river in that way.

I confused the Vibrac loan, which is against the future revenues (mainly para payments) with against receipts

Before it becomes an internet "fact" we can knock it on the head.

My very bad

So hang on, you get something confused on here this month and then Sparta goes on about rumours at Xmas we couldn't afford the wages, which has only come up because you got confused?

Smelling a little of fields here.