Confimred new owners of Raeding Footbal Club

[melonhead]

Teddy Sagi would only buy a football club if there was a way of making money out of it. He's not a "sugar daddy" wanting a play thing. He's an astute businessman who wants to make more money. He would not plough vast amounts of his personal fortune into a vanity project although I am sure he wouldn't object to owning a premier league club.... I'm not saying he would asset strip or run off with the cash or anything like that. Only he has spotted a deal somewhere and bugger if I know what that is.
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the deal is- both owners are desper8 to sell
therefore he'll be able to extract value from their desperation

[melonhead]

I wonder what the rules on clubs owning Casinos are


(guaranteed cash cow though)

theres one in Coventrys old ground, but then they dont own that themselves


this pointless post was brought to you by @pointlessposts

[melonhead]

Has anyone thought that they might want to build on the Speedway car park, or do the club not own that?

They don't own it.
I also recall that an attempt to build a casino there failed because the council wouldn't grant any more licences, which raises questions over the 'super casino' plan. I think there are 3 casinos in Reading already, which seems like at least 2 too many

i think business reality dictates that if there werent enough custom for 3 casinos, there wouldnt be 3 for very long

[Nameless]

Aren't the club already tenants ?
The ground is owned by RFC Holdings, as is RFC Ltd. whilst SJM owned them both it was a technicality, and I don't think any rent was paid. New owners could do things quite differently. Theoretically the ground could be sold to London Irish (who have wealthy new owners), we could then become tenants and that would mean we could not get promoted to the Premier League.....

[Nameless]

Has anyone thought that they might want to build on the Speedway car park, or do the club not own that?

They don't own it.
I also recall that an attempt to build a casino there failed because the council wouldn't grant any more licences, which raises questions over the 'super casino' plan. I think there are 3 casinos in Reading already, which seems like at least 2 too many

i think business reality dictates that if there werent enough custom for 3 casinos, there wouldnt be 3 for very long

Purely personal prejudice ! I've never understood the appeal of gambling, and sitting in a windowless room for hours as someone extracts all your money seems marginally more fun than watching Britains Got NonTalent on perpetual repeat....

[melonhead]

Finally the end of Howe. I am starting to prefer Burman's offer. How much is Sagi going to put into the footballing side or is he just going to build a second Oracle on the Carpark?

It's a good idea though - would improve the sterile surroundings and bring a bit of life to the area on non match days.

if there is a pub included in the plans, im in

[melonhead]

They don't own it.
I also recall that an attempt to build a casino there failed because the council wouldn't grant any more licences, which raises questions over the 'super casino' plan. I think there are 3 casinos in Reading already, which seems like at least 2 too many

i think business reality dictates that if there werent enough custom for 3 casinos, there wouldnt be 3 for very long

Purely personal prejudice ! I've never understood the appeal of gambling, and sitting in a windowless room for hours as someone extracts all your money seems marginally more fun than watching Britains Got NonTalent on perpetual repeat....

because sometimes you win money!!!!!1!!!1!11
which makes you feel incredibly great for a few minutes. this short term gain over powers the long term misery guilt and self loathing generated by losing all the time, which makes you bet again.
then when you lose the self loathing increases, decreasing your self worth and making you feel miserable, thus increasing the need for another short term gain to make you feel better, resulting in another bet.

[winchester_royal]

Double hat-trick post block

[melonhead]

youre dead to me now

[Maguire]

Its amazing that people can firmly give their support to Offer A or Offer B without seeing any of the details and only reading a few speculative lines from a questionable local journo.

Indians >>> Israelis

[No Fixed Abode]

Its amazing that people can firmly give their support to Offer A or Offer B without seeing any of the details and only reading a few speculative lines from a questionable local journo.

Indians >>> Israelis

Despite India being a very rich Country the UK still sends financial aid there. I wouldn't trust them.

[Whore Jackie]

If Sagi is only in it for the real estate potential, and no interest in football, why would he not buy the old greyhound stadium aka Southside instead? Presumably it would be the much cheaper location, for a quick-build shopping centre, with an ever-growing residential audience just across the road?

[No Hoops]

The Chronicle have also summarised the current state of play....


Israeli billionaire Teddy Sagi and Mohit Burman from India are both attempting to take control of the club, ending the on-going takeover saga.

They include turning the area around the Madejski Stadium into a retail park with hotel and building houses on the club’s Hogwood Park training ground, with Royals poised to move to a new training facility at Bearwood in the near future.

Sagi, 41, is worth around £1.5 billion according to Forbes. It is thought he could purchase Reading for £1 then pay off the club’s debt which amounted to £38 million when the club was relegated from the Premier League in 2013.

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Doesn't Sir John own the training ground? That was not part of the AZ deal. Shoddy journalism imho

[mikey0406]

Sagi is a massive football fan, Chelsea infact and has a commercial box there

[Uke]

Sagi is a massive football fan, Chelsea infact and has a commercial box there

AZ is a massive football fan, knowledgeable about the game, spends all night talking tactics with Brian, etc...

Footie fans running clubs is bad news - they get too involved and spunk their money on crap signings - see Jordan at Palace as an example.

I can think of another one closer to home too

[Yorkshire Royal]

He owns Playtech so it is his box.

So how do you pretty much know for sure that he wants the club 100% for the real estate?

He doesn't own Playtech. Playtech are publicly listed on the FTSE.

And to your second point - because I can. I don't need to justify it any further. I stand by everything I have said. If Teddy Sagi buys Reading FC then it will be purely about making money and nothing about football.

haha He is the founder and presumably majority shareholder

You said

it's 100% for the real estate potential

Just stop being so matter of fact about everything and you won't get so angry. You may be right but only time will tell.

He is the single largest shareholder yes. And indeed an unpaid consultant. And in reality determines the company's strategy and mostly controls the CEO....

I'm matter of fact for good reason that sadly I can't share. So we'll leave it there. I'm not really that angry either thanks, just trying to provide a true picture of a man and share what information I do know as best I can.

[Royal Lady]

If someone like this Teddy fella bought the club, is there anything to stop him winding the club up and building on the land where the stadium is? #justasking

[Harpers So Solid Crew]

Yes, just saying like.

[Royal Lady]

There is something to stop him? Even if he owns 100% of the club and could do with it what he liked? Good.

[Royalcop]

Presumably he could in theory close the 'business' side of RFC and sell the stadium but the club, in terms of the history and supporters would remain even without any infrastructure. In that sense we are all part owners of the club if you see it as a figment of our collective consciousness.