Confimred new owners of Raeding Footbal Club

[Royal Lady]

Presume it's a coincidence that part of Camden Market went up in flames recently?

[Mr.Swainey]

First signing.

[loyalroyal4life]

Surely they will need to look at the traffic build up if this shopping centre idea is true, I mean who would want to go shopping (non football fans) on a matchday?

[SPARTA]

Surely they will need to look at the traffic build up if this shopping centre idea is true, I mean who would want to go shopping (non football fans) on a matchday?

I imagine they'll care as little as they do about bring Ikea to J12. I know they're spending some money on roads, but really, that area will be a nightmare at weekends.

[GreaterTorontoRoyal]

http://metro.co.uk/2014/05/26/ever-wanted-to-own-a-football-team-you-can-now-buy-reading-fc-for-1-4740088/?

Humourless oxf*rd.

Funniest part of the whole thing:

Russian billionaire Anton Zingarevich

[genome]

http://metro.co.uk/2014/05/26/ever-wanted-to-own-a-football-team-you-can-now-buy-reading-fc-for-1-4740088/?

Humourless oxf*rd.

[RG7Fan]

Unfortunately I can't see it being a bidding war. I'd imagine one will pull out so I doubt it's going to be a case of us choosing our preferred choice.

Apparently both of them have only offered £1. Of course, they'd need to find another £40m odd to pay off the debts (SJM, AZ, Bank). Without some kind of assurance that SJM and AZ will get their loans back their will be no deal - regardless of £1 or £2 for the club ...

[Terminal Boardom]

Seeing that the club only paid £1 for the 66 acre site in the first place...

[Royal Rother]

And then spent the millions that no-one else was prepared to on "decontaminating" the place...?

[Nameless]

And then spent the millions that no-one else was prepared to on "decontaminating" the place...?

And paying for the new road....
And recouping a bit from the Reading Gate development

[loyalroyaldaz]

A little bit for Reading Gate Retail park was actually about £20m !

[Nameless]

A little bit for Reading Gate Retail park was actually about £20m !

Not sure it was that much, but I was obviously being a little tongue in cheek....

[loyalroyaldaz]

It was actually £21m but whats a million here and there.
I would suggest that was more than enough to pay for the contamination clean up..

[Nameless]

My recollection was the land was sold for £6 million, but you may have evidence to the contrary !
Perhaps that was what they had to contribute to the A33 work.
It remains the case that unless RFC Had moved onto the site it would still be a rubbish dump. The club has added a huge amount to the value of the site. If circumstances mean SJM walks away with his debts repaid but no additional profit I'm ok with that (as if what I think matters !), 25 years of largely good times, lots of positive press all for no overall cost is not a bad result.

[loyalroyaldaz]

And a Knighthood.......

[Haag Royal]

Surely they will need to look at the traffic build up if this shopping centre idea is true, I mean who would want to go shopping (non football fans) on a matchday?

I imagine they'll care as little as they do about bring Ikea to J12. I know they're spending some money on roads, but really, that area will be a nightmare at weekends.

Absolutely. That area will be a nightmare 7 days a week stretching back along the A4 to Reading and the M4 both ways. Can't undersatnd why Sainsbury's didn't kick up more of a fuss. Same will happen here but it's sod the shoppers and residents we've got a target to hit.

[multisync1830]

Surely they will need to look at the traffic build up if this shopping centre idea is true, I mean who would want to go shopping (non football fans) on a matchday?

I imagine they'll care as little as they do about bring Ikea to J12. I know they're spending some money on roads, but really, that area will be a nightmare at weekends.

Absolutely. That area will be a nightmare 7 days a week stretching back along the A4 to Reading and the M4 both ways. Can't undersatnd why Sainsbury's didn't kick up more of a fuss. Same will happen here but it's sod the shoppers and residents we've got a target to hit.

Is it not shoppers and residents who use these facilities?

[Norfolk Royal]

Will there still be enough room for the West Berks brewery tent outside the ground?

[akranes]

Big day today, hopefully we hear something.

[Mr ReadingFC]

Reading FC call board meeting to discuss takeover bids

The issue of an unpaid tax bill will also be high on the agenda with Royals currently owing £1.6 million to HM Revenue & Customs (HMRC) with another payment, of a similar amount, due in under two weeks time.

With HMRC now chasing the club, it has become even more important for Madejski and the board to find a new owner.

And in the past week two frontrunners have emerged as potential new owners.

Israeli billionaire Teddy Sagi flew in for talks last Wednesday and is the preferred choice of the board to take over.

But Indian businessman Mohit Burman, who part owns the Kings XI Punjab, a cricket team in the Indian Premier League (IPL) also wants to take control at the club.

And while Sagi brings real estate plans to the table with his bid, including building a shopping centre on the car park at Madejski Stadium, Burman has a proven history in running sports teams.

As well as the Kings XI, he also has interest in badminton, hockey and kabaddi in his native India.

Burman has pledged to invest heavily in the club to help take it back to the Premier League but wants to implement a big shake-up at board level.

The 45-year-old feels it is time for a change and would like to replace the current directors with some fresh blood.

But Sagi meanwhile has agreed to continue working with the board should his bid be given the green light. Both offers are for just £1 but will also see the club's debt, totalling around £21m, wiped out.

Although Sagi and Burman are the frontrunners to take over, interest also remains from consortiums in America and Ireland.