Confimred new owners of Raeding Footbal Club

[Uke]

The news coming out of Jonny Fordham is nothing short of bizarre.

Agreed. He just came out with this:

Jonny Fordham ‏@JonnyFordham 1h
AZ handed back his #readingfc shares in Jan and resigned from board. Samuelson playing a big part still. Any deal will take time

It seems a bit nonsensical.

It explains the cash in January failed to materialise and might possibly calm Royal Blue down a tad

[RoyalBlue]

The news coming out of Jonny Fordham is nothing short of bizarre.

Agreed. He just came out with this:

Jonny Fordham ‏@JonnyFordham 1h
AZ handed back his #readingfc shares in Jan and resigned from board. Samuelson playing a big part still. Any deal will take time

It seems a bit nonsensical.

It explains the cash in January failed to materialise and might possibly calm Royal Blue down a tad

Why the f*ck would it? Madejski did not qualify the assurance of transfer funding. He did not say it was conditional in any respect. He did not say it was coming from Zingarevich (and he would have been an absolute idiot to have done so, given how Zingarevich had already failed to deliver). And, IIRC, when Dellor pushed him, he sugggested/stated that he would provide some.

And now, to add even more to the mess that he has got us into by 'selling' to AZ, according to Charles Watts HMRC are after the club for unpaid tax bills.

[RoyalBlue]

Getreading understands, however, that Burman's offer for the club is not the preferred choice of the directors at Reading. They prefer Sagi's bid which, along with Peter Lucas, of Duke of Saxony Enterprises, contains plans to build a shopping centre and hotel on the car park at Madejski Stadium, as well as flats on the club's current training ground at Hogwood Park.

WTF?!! Another hotel? A shopping centre on the car park?

Well f8ck the fans. Why not just go the whole way and build a shopping centre on the pitch?

[Royal Ginger]

http://www.getreading.co.uk/sport/football/football-news/exclusive-indian-businessman-mohit-burman-7168744

And there it is. The club's worth a quid.

[sandman]

Don't football creditors take preference over everyone including HMRC? Seem to remember Portsmouth getting away with unpaid tax for quite a while.

[Ian Royal]

£3.2 million allegedly owed to HMRC.

Still, it's a small portion of the debt owed to SJM and Anton, so it might not be too bad. SJM will still get about £9m out of it.

[Ian Royal]

Don't football creditors take preference over everyone including HMRC? Seem to remember Portsmouth getting away with unpaid tax for quite a while.

HMRC are no longer a preferred creditor - good one Gov of the time.

Football creditors aren't legally due any special terms, but the FA et all will remove the club's golden share if they aren't paid in full. And a football team without a competition to play in is a little redundant.

[UpThePrem]

£3.2 million allegedly owed to HMRC.

Still, it's a small portion of the debt owed to SJM and Anton, so it might not be too bad. SJM will still get about £9m out of it.

May be even more as that's just the first (currently overdue) and second due in a few weeks. There may be more that haven't been mentioned.

[Royal Ginger]

£3.2 million allegedly owed to HMRC.

Still, it's a small portion of the debt owed to SJM and Anton, so it might not be too bad. SJM will still get about £9m out of it.

May be even more as that's just the first (currently overdue) and second due in a few weeks. There may be more that haven't been mentioned.

The article claims twice times £1.6m, so Ian's £3.2m would be a correct summary of the report.

[Extended-Phenotype]

The news coming out of Jonny Fordham is nothing short of bizarre.

Agreed. He just came out with this:

Jonny Fordham ‏@JonnyFordham 1h
AZ handed back his #readingfc shares in Jan and resigned from board. Samuelson playing a big part still. Any deal will take time

It seems a bit nonsensical.

Would it not be possible for the fans to be told by the club at least a little bit about what's going on? Fans are treated like sh1t. This is one of the main reasons I refuse to go to lots of matches. It would be the equivalent of paying someone to kick you in the balls or insult you every week. At least that would be more honest and you'd know where you stood. Football fan = mug.

Final nail in coffin for me as a match-going fan if this is true.

[winchester_royal]

So much for the £18m tax bill that was muted on here last week..

[P!ssed Off]

Things are looking promising.
Not sure why some on here seem disappointed that AZ gave back his shares in January. Sounds like a good thing to me.
at winch finding "the notion of handing back shares for nothing as bizarre in itself tbh." Wish I could palm off my debts to some other mug.

[Silver Fox]

Why not just go the whole way and build a shopping centre on the pitch?

Why not indeed

[genome]

Why the f*ck would it? Madejski did not qualify the assurance of transfer funding. He did not say it was conditional in any respect. He did not say it was coming from Zingarevich (and he would have been an absolute idiot to have done so, given how Zingarevich had already failed to deliver). And, IIRC, when Dellor pushed him, he sugggested/stated that he would provide some.

And now, to add even more to the mess that he has got us into by 'selling' to AZ, according to Charles Watts HMRC are after the club for unpaid tax bills.

Actually, he did say that some of the money would be Anton's, but as I've said before, get over it. Are you still going to be moaning about this when we have new owners?

[multisync1830]

The news coming out of Jonny Fordham is nothing short of bizarre.

Agreed. He just came out with this:

Jonny Fordham ‏@JonnyFordham 1h
AZ handed back his #readingfc shares in Jan and resigned from board. Samuelson playing a big part still. Any deal will take time

It seems a bit nonsensical.

Would it not be possible for the fans to be told by the club at least a little bit about what's going on? Fans are treated like sh1t. This is one of the main reasons I refuse to go to lots of matches. It would be the equivalent of paying someone to kick you in the balls or insult you every week. At least that would be more honest and you'd know where you stood. Football fan = mug.

You pay to sit in the stands not sit in the boardroom.

If I go to a pub and buy a pint it doesn't give me the right to look at their books.. You're a punter with no rights past withdrawing support get over it.

[winchester_royal]

Things are looking promising.
Not sure why some on here seem disappointed that AZ gave back his shares in January. Sounds like a good thing to me.
at winch finding "the notion of handing back shares for nothing as bizarre in itself tbh." Wish I could palm off my debts to some other mug.

That's what I mean...it just doesn't happen in 'real life', which is why it seems pretty odd to me that it's been allowed to happen here.

No disappointment from my end, if Sir John is the 100% owner then it will make the whole process much easier, but what Fordham is saying doesn't really seem to add up (nothing new there).

[Wycombe Royal]

Things are looking promising.
Not sure why some on here seem disappointed that AZ gave back his shares in January. Sounds like a good thing to me.
at winch finding "the notion of handing back shares for nothing as bizarre in itself tbh." Wish I could palm off my debts to some other mug.

That's what I mean...it just doesn't happen in 'real life', which is why it seems pretty odd to me that it's been allowed to happen here.

No disappointment from my end, if Sir John is the 100% owner then it will make the whole process much easier, but what Fordham is saying doesn't really seem to add up (nothing new there).

He handed his shares back because they are worthless, but he is still entitled to get his debts back. So all he has given up is the chance that his shares might have sold for something, which if the current rumours are true is about 51p.

[genome]

I wonder if we will ever find out what happened to Anton?

[Ian Royal]

£3.2 million allegedly owed to HMRC.

Still, it's a small portion of the debt owed to SJM and Anton, so it might not be too bad. SJM will still get about £9m out of it.

May be even more as that's just the first (currently overdue) and second due in a few weeks. There may be more that haven't been mentioned.

No I added them together.

[Libertine]

I wonder if we will ever find out what happened to Anton?

He was actually.........................................the "Muffin Man"!

Girl you thought he was a man,
But he was a muffin,
He hung around till you found,
That he didn't know nuthin',
Girl you thought he was a man,
But he only was a-puffin',
No cries is heard in the night,
As a result of him stuffin'