Thames Sports Investment

[Norfolk Royal]

Unless this deal (if there is one) gets concluded before this transfer window closes, I can't see any more significant signings being made by us. I suspect Madejski might say that it would be wrong to try to do transfer deals when in the middle of trying to sign up a deal with new investors/owners.

BTW, what's the betting on any deal to sell the club being for an 'undisclosed figure'?

The piece in the DM has rather blown that tbf. Even if the club did not disclose it, it's now £40-million whatever.

[Harpers So Solid Crew]

City fans wore Arabian head scarfs, how long before one's Rumblestix are accompanied by a Russian fur hat :?:

Deadlock has had one of these for years!

And that newspaper fella, supplied by East stand man I believe.

[Ups and Downs]

The Zingarevich Stadium does not have the same ring to it as Mad stad!!

How about the Zingarevich Pitch then?

As long as we don't get vulgar in our spending, which I can't see happening, then this is all pretty exciting.

Madejski could never stay in charge forever. To the people who don't like the sound of this, who or what kind of person would you have wanted to succeed him? I should imagine a lot of you will struggle to answer that one.

[Z175]

Sad day.

SJM has finally run out of cash and is selling as he has no choice. The Russians are NOT billionnaires. The Dad, Boris has 300m , and no interest in football. His son knows Reading and loves football. We are basically a gift. How much is 300m? Well about the same as SJM had pre recession. How much will young Anton get to spend? 40m for Antom get to spend? Just the 40m for the club. I expect the transfer rumours are as nicky and Brian are ready to move, but the money will all be debt and loans.

We will be lucky to be the next Leicester, Pompey more like. I'll enjoy the ride tho

[Royal Lady]

"Chief executive Nigel Howe, nephew of former Arsenal coach Don, will be retained"

Boooo!! And why do they have to mention who his uncle was?

[TFF]

Question.

If somebody stumps up £50M for half(ish) of JM's shares in RFC does RFC still owe the chairman £26M?

[Coppell's Right Footed 11]

Sad day.

SJM has finally run out of cash and is selling as he has no choice. The Russians are NOT billionnaires. The Dad, Boris has 300m , and no interest in football. His son knows Reading and loves football. We are basically a gift. How much is 300m? Well about the same as SJM had pre recession. How much will young Anton get to spend? 40m for Antom get to spend? Just the 40m for the club. I expect the transfer rumours are as nicky and Brian are ready to move, but the money will all be debt and loans.

We will be lucky to be the next Leicester, Pompey more like. I'll enjoy the ride tho

No.

His dad owns a Timber manufacturer and his wealth was quoted from 2004.

His son Anton, loved football. Bill Kenwright described him as a football encyclopedia.

Anton, appears to have his finger in a lot of pies. Many companies according to google he is associated with.

Exciting move.

[dogzbollox]

Well done to the opening poster and those with brains large enough
to realise there could easily be a down side to this.

There could be a downside to anything in life. The trick is to keep focused on the potential.

If you live purely to avoid risk, you don't live at all.

So, say, for example, the mafia offered to back us.

And the problem with that is? Did you know that every time you buy a pizza you put money into the Mafia coffers - they own a major percentage of Buffalo Milk Mozzarella cheese , so bearing that in mind explain to me why you have a problem with the Mafia - Sicilian, Russian or otherwise.

[Royal Lady]

Why didn't Kenwright sell to him? Do we know?

[SouthDownsRoyal]

I can hardly believe that I was commenting on a post two days ago saying "of course we are a selling club" and now this. I have to say I am worried by all this carry on folks. I worry for the structure, I worry for McDermott, I worry for the soul of the club, I am just not convinced Russian billionaires are what this club needs. What are we to them? A route to be accepted in British society?

I love this club, I love the fact that we have the moral high ground over Leicester and Portsmouth and all the other scumbags. Despite all the changes in the last 20 years and my indifference to SJM I have always felt that we are a community club and going to Watford away last week made me realise what it is to be a Reading fan, my 15 year old son and I had a great day out with genuine Reading fans even if the football wasn't that great.

Maybe I am getting old and pedantic, but I am not excited by this, I enjoyed an away win at Watford more than I enjoyed getting beaten 4-0 at home by Arsenal surrounded by the Berkshire middle classes in the Upper West who tutted at me when I showed passion for my side. I was born in Reading, I loved this club when Pat Earles and Martin Hicks were here, I loved this club when Gooding, Quinn and Gilkes took us to heights we had never experienced before and I loved this club when Coppell did the unthinkable, it was a momentous period for us all, all achieved in the right way and respected across the nation, a bit like what Swansea are doing now. Yeah, they beat us in the Play Off final, but what a great team, built on the right principles.

Now we are faced with this. I really hope the intentions are good and the club is going on to great things, but someone please tell me where the benefit is for a Russian Billionaire/Gangster to buy our club? How long is it before McDermott is not the right man? How long is it before this guy chucks this particular toy out of his pram? How long is it before the soul of this club is ripped out by a meglomaniac?

I want to be happy, but as someone who has followed this club from Darlington to Plymouth, I fear that someone who doesn't know what it is to be a Royal, is about to rip our club to bits.

I hope I am wrong!

Excuse my grammar, I am a bit p1ssed and emotional right now!

wow thats dull and boring

[West Stand Man]

You don't spend 40 Million and not "take over". This isn't REAL, people.

Oh dear, and you are usually so good at maths.

Firstly, the quote is that it values the club at £40M; You are bright enough to know that means that if he is buying a % share then he is not paying the full value of the club.

Secondly, even as a bald statement that is so wrong. If I spent £40M on shares in Man Utd I would not expect to 'take over' because I would be a minor shareholder. It is all proportional.

In this instance, though, point one is the driver. The Club is, apparently, valued at £40M; thus if he is buying 51% of it he is paying just over £20M for his share.

Actually it says the deal "could top £40M" but as I said above, this is the Daily Mail we're quoting...

That would simply invoke my second clause. If the deal could top £40 that implies that the club is worth about £80M (if 51% = £40M then 100% = ~£80M).

Anyway, he is supposed to be getting 51% so he is taking over. He will place John M as Chairman, that is not an issue as not all company Chairmen are the major shareholders. I am sure someone will dig out the legal position of a company chairman - it is supposed to be a guide/control over the CEO, I think.

[Royal Lady]

I said about the total deal being £80 million and I was told I was wrong and it was £40 million total.

[West Stand Man]

Why didn't Kenwright sell to him? Do we know?

From one of the many links hidden away in all the hysteria it would seem that his father wouldn't support him financially. I guess we have to assume that now has money of his own.

[LoyalRoyalFan]

Why didn't Kenwright sell to him? Do we know?

Apparently he wanted to look like he was doing a deal, but didn't want to sell in the end.

[West Stand Man]

I said about the total deal being £80 million and I was told I was wrong and it was £40 million total.

I think we need to see some clarity here. If the purchase price for his shares is £40M then that values the club at £80M (with JM still owning the other 49% (less a tiny amount to STAR and the other Directors)). I suspect we may have to wait until the accounts are published later in the year. This is one price that can't be hidden in an accounting 'fix'.

[dogzbollox]

Why didn't Kenwright sell to him? Do we know?

Weren't Everton about £40m in debt back then and had a massive O/Draft? Kenright probs wanted more than £20m 'invested'

[ZacNaloen]

Anton is an investment fund manager, he won't be using much of his own money at all. He'll go out and find investors, how effective this will be is currently a known unknown, but I would hope madejski wouldn't agree to this if there wasnt already some significant guaranteed investment on the table.

[Royal Lady]

I'm sure JM had valued the club as worth £80m previously and that is why a lot of people were saying he'd never sell it as he was asking too much. I'd be surprised if he had halved the price - unless his financial situation is so desperate that he has had to.

[Cypry]

I said about the total deal being £80 million and I was told I was wrong and it was £40 million total.

I think we need to see some clarity here. If the purchase price for his shares is £40M then that values the club at £80M (with JM still owning the other 49% (less a tiny amount to STAR and the other Directors)). I suspect we may have to wait until the accounts are published later in the year. This is one price that can't be hidden in an accounting 'fix'.

I suspect you're incorrect. The article in the Mail states that SJM is selling 51% of his shares with an option on his remaining shareholding. It also says the deal could top £40M - I suspect that the latter will only apply if the option is taken up some time in the future which would then value SJM's current shareholding at £40M - this sounds realistic to me....

Note the careful use of the phrase SJMs current shareholding, as opposed to "value of the club"....

[moo]

It wouldn't be immediately on companies house