Thames Sports Investment

[Chaney]

It is all ok the deal is going through next week according to BBC Sport.

Unfortunately just like tomorrow next week just never seems to come.

link please

[Cypry]

It is all ok the deal is going through next week according to BBC Sport.

Unfortunately just like tomorrow next week just never seems to come.

link please

http://www.bbc.co.uk/sport/0/football/18073244

[Chaney]

It is all ok the deal is going through next week according to BBC Sport.

Unfortunately just like tomorrow next week just never seems to come.

That quote was made on April 20th

[Cypry]

The link I posted is from today - seems to imply that it's a delay with the PL, and they're not in a hurry to get the situation resolved........

On the plus side, there's nothing to indicate that they think it's a problem at our end (i.e. SJM and TSI falling out).....

I reckon it's just a case of the PL having other things to worry about and dragging their feet.....

Start

SJM "Are you going to get this sorted soon?"

PL Representative "Yes Sir John - next week hopefully"


......a week passes........

SJM "Still no news?"

PL Representative "No - we're working on it but something came up".......

Goto Start

[Cobi]

Reading takeover by Anton Zingarevich an 'ongoing process'

http://www.bbc.co.uk/sport/0/football/1 ... witterfeed

Initially only the Football League needed to approve the deal but following April's promotion, the Premier League have now also had to ratify the proposed takeover, meaning a second set of tests.
Those 'fit and proper persons' tests involve an 'owners and directors' check which includes a face-to-face meeting between the Premier League, Zingarevich and all representatives of TSI.
The test also requires Zingarevich and TSI to provide proof of current and future funds as well as budgets and a business plan.
TSI is not a company or limited-liability partnership incorporated in the UK, making inquiries less straightforward.

Nuffin we didnt already know.

COME ON I'M GETTING IMPATIENT.

[themadstad]

Still no news, now the club seem to be quiet on TSI too. Where before they mentioned TSI in some capacity or another.

It would make sense that checks are complex due to TSI being incorporated outside the UK and the various investors wanting a certain amount of privacy.

The main bankers will have their own procedures for principal controllers over a business, that wouldn't affect the outcome, but shows the complexity.

Rumours that there isn't money, does Anton actually have the money reported. Why does Chris Samuelson say Boris is there should Anton need it? Why so much secrecy over the investors? In addition since the investors have been revealing themselves and Boris's involvement has become apparent it goes on and on. Previous attempt with Everton failed, reason unknown. Plenty of questions are popping up from our point of view. No wonder it's taking so long. Yet a while back everyone [club] seemed confident.

[RepressedRoyal]

F*ck me, Jonny Fordham has defected from GetReading and joined BBC Sports as a national "no news" correspondent.

[Cobi]

Rumours that there isn't money, does Anton actually have the money reported. Why does Chris Samuelson say Boris is there should Anton need it? Why so much secrecy over the investors? Plenty of questions are popping up from our point of view. No wonder it's taking so long. Yet a while back everyone [club] seemed confident.

there's a rumour going around you haven't read the last few pages of this thread, otherwise you'd know who the money is now.

[madstadblues]

In fairness to the Premier League this is probably their busiest time with 3 teams being promoted and relegated. The FA awards don't happen by themselves and someone had to interview Neville and Hodgson. Apparently the Joey Barton incidents take priority and the extended bank holiday is causing chaos .

[themadstad]

Rumours that there isn't money, does Anton actually have the money reported. Why does Chris Samuelson say Boris is there should Anton need it? Why so much secrecy over the investors? Plenty of questions are popping up from our point of view. No wonder it's taking so long. Yet a while back everyone [club] seemed confident.

there's a rumour going around you haven't read the last few pages of this thread, otherwise you'd know who the money is now.

What the bit where Chris says BZ is there if Anton needs it? So why wasn't this mentioned from the very start? Which I referred to. Or the additional investor of Obolensky which I didn't mention but nothing suggest he's worth anything significant enough.

[themadstad]

Well certainly if Boris is worth the reported billions alone then we're better off already. Not that it'll all be spent but it's wealth of a principle investor that can help us when required. God knows what the amount is the premier league will be looking to confirm. I expect it'll be in form of a business plan for a period of time and then the required funds for that plan to back it up etc.

Then maybe each investor needs do declare wealth and prove it.

[blueroyals]

Who nose mate. i'm sure if it goes belly up they'll be other interested parties. greater 'chute payments mean more stability too. Gr8 if it goes through but not fussed if it dont. as you say, they wont splash silly money, so im more than happy with the devil we know .

How old is SJM now? Got to be in his 70s - if it's taken him 20 years to find a buyer that meets his criteria and this takeover goes balls-up, how long will it take him to find another? I hate to admit it but I think he'll be as desperate as anybody for this deal to go through purely because he doesn't have another 20 years to find an investor that is genuinely interested in the club (what would you rather - he sells up to Anton who has at least demonstrated he has a real interest in both football and the club, or SJM having to sell up to a Venky's a few years down the line due to health reasons god forbid).

[madstadblues]

How does the Premier League fair play rules effect this. If you are only able to spend a proportion of your revenue and your debts need to be limited does it matter how much money any prospective owner does or doesn't have ?

[robinsfriday]

Who nose mate. i'm sure if it goes belly up they'll be other interested parties. greater 'chute payments mean more stability too. Gr8 if it goes through but not fussed if it dont. as you say, they wont splash silly money, so im more than happy with the devil we know .

How old is SJM now? Got to be in his 70s - if it's taken him 20 years to find a buyer that meets his criteria and this takeover goes balls-up, how long will it take him to find another? I hate to admit it but I think he'll be as desperate as anybody for this deal to go through purely because he doesn't have another 20 years to find an investor that is genuinely interested in the club (what would you rather - he sells up to Anton who has at least demonstrated he has a real interest in both football and the club, or SJM having to sell up to a Venky's a few years down the line due to health reasons god forbid).

I don't think he has been looking for a buyer for twenty years. Most likely he has been actively looking for the past 3-5 years. You have to remember that as a Premiership team we are more likely to get an interested party wanting to purchase a 51% share.

If the TSI deal falls short then I would expect interested parties to come forward, but most likely if we stay up. But as always in this situation (takeover) it just takes time and I think the PL will be far more astute with their research into the potential buyers based on the activities that have occurred at Portsmouth to name but a few.

[blueroyals]

Who nose mate. i'm sure if it goes belly up they'll be other interested parties. greater 'chute payments mean more stability too. Gr8 if it goes through but not fussed if it dont. as you say, they wont splash silly money, so im more than happy with the devil we know .

How old is SJM now? Got to be in his 70s - if it's taken him 20 years to find a buyer that meets his criteria and this takeover goes balls-up, how long will it take him to find another? I hate to admit it but I think he'll be as desperate as anybody for this deal to go through purely because he doesn't have another 20 years to find an investor that is genuinely interested in the club (what would you rather - he sells up to Anton who has at least demonstrated he has a real interest in both football and the club, or SJM having to sell up to a Venky's a few years down the line due to health reasons god forbid).

I don't think he has been looking for a buyer for twenty years. Most likely he has been actively looking for the past 3-5 years. You have to remember that as a Premiership team we are more likely to get an interested party wanting to purchase a 51% share.

If the TSI deal falls short then I would expect interested parties to come forward, but most likely if we stay up. But as always in this situation (takeover) it just takes time and I think the PL will be far more astute with their research into the potential buyers based on the activities that have occurred at Portsmouth to name but a few.

True but I think if a group like TSI approached him at any point during his ownership of Reading he would have accepted the offer. I think he said a few years back that he had been approached by a few consortiums but they didn't take his fancy.

Just looked at Sir John's wiki page, apparently the club was valued at £100m back in 2007. You can only assume the club is worth more money than that now - to be selling a controlling stake in the club for just £13m speaks volumes about how desperate he is to sell.

[PieEater]

How does the Premier League fair play rules effect this. If you are only able to spend a proportion of your revenue and your debts need to be limited does it matter how much money any prospective owner does or doesn't have ?

You'd think not, FFP means that clubs need to break even. But that excludes any investment in the stadium or academy, so you'd think the way to grow the club is to expand the stadium, keep selling academy grown talent and expand commercial revenue. So cash will be need for investment, but not to bankroll the clubs wage bill. But certainly not at the level it used to be required.

Additionally the FFP only applies to European games, you can still run at a loss if you don't intend on playing in Europe, although if you make it your revenue can increase 30-40%

[Cypry]

apparently the club was valued at £100m back in 2007. You can only assume the club is worth more money than that now - to be selling a controlling stake in the club for just £13m speaks volumes about how desperate he is to sell.

What utter rubbish!!!

You're talking about a valuation from last time we were in the PL, and probably an over-valuation at that....

TSI agreed the deal when we were a Championship club, and the deal involves £25M cash (for 100% of the club). SJM currently has £28M in outstanding chairmans loans as well, which if they remain with the club (and I am sure they will), values the club (as a Championship side) at somewhat over £50M......

[chilipepper91]

IIRC it was Madejski who valued the club at £80m, or at least said he would sell it for that amount

[Pseud O'Nym]

The only time I've seen an "official" valuation - by which I mean one that the club didn't deny - was early 2008. The FT website reported that SJM was employing Citigroup to find a buyer and that Deloitte and Touche were valuing it at 80 to 100 million. The FT article seems to have disappeared, however here is a link to a rehash from the site of a US publication: http://www.sportsbusinessdaily.com/Journal/Issues/2008/03/20080310/This-Weeks-News/Citigroup-Hired-To-Sell-Premier-League-Team.aspx

[Royal Rother]

SJM currently has £28M in outstanding chairmans loans as well, which if they remain with the club (and I am sure they will), values the club (as a Championship side) at somewhat over £50M......

Not sure I follow that.