Where's Madejski?

Thaumagurist* · by Thaumagurist* » 10 Nov 2009 12:43

Dirk Gently The only way the debt will be cleared (short of suddenly discovering a team of Kevin Doyles) is by selling the club.

Would the asking price include the level of debt?

Dirk Gently · by **Dirk Gently** » 10 Nov 2009 12:46

Thaumagurist*
Dirk Gently The only way the debt will be cleared (short of suddenly discovering a team of Kevin Doyles) is by selling the club.

Would the asking price include the level of debt?

Who knows! Depends on terms if a buye is ever found. I'd suspect not though - I don't think the residual debt is anywhere as big as most people think.

handbags_harris · by **handbags_harris** » 10 Nov 2009 12:50

Dirk Gently The only way the debt will be cleared (short of suddenly discovering a team of Kevin Doyles) is by selling the club.

I refer the honourable gentleman to my last point:

handbags_harris ...the debt is not going to be cleared any time soon.

No buyer in the offing, therefore no clearance of debt.

Dirk Gently · by **Dirk Gently** » 10 Nov 2009 12:52

handbags_harris
Dirk Gently The only way the debt will be cleared (short of suddenly discovering a team of Kevin Doyles) is by selling the club.

I refer the honourable gentleman to my last point:

handbags_harris ...the debt is not going to be cleared any time soon.

No buyer in the offing, therefore no clearance of debt.

Indeed. I was merely amplifying your post for the benefit of the hard of thinking on here.

handbags_harris · by **handbags_harris** » 10 Nov 2009 12:54

I was merely post ramping, an indulgence I rarely indulge in

Terminal Boardom · by **Terminal Boardom** » 10 Nov 2009 14:24

Come on Nero. Show your face and tell us how brilliant the cloth cutting has been and what you think of this world class model!

Harpers So Solid Crew · by **Harpers So Solid Crew** » 10 Nov 2009 15:29

Dirk Gently
Thaumagurist*
Dirk Gently The only way the debt will be cleared (short of suddenly discovering a team of Kevin Doyles) is by selling the club.

Would the asking price include the level of debt?

Who knows! Depends on terms if a buye is ever found. I'd suspect not though - I don't think the residual debt is anywhere as big as most people think.

I thought it was something like £10m, plus £20m ish for the hotel. Presumably JM has taken back everything else he put in, and cant see a problem if he has.

Ryn · by **Ryn** » 11 Nov 2009 14:19

Why does the club have to be sold with the hotel? Can't Madejski pare them out and sell them off individually?

Sell the Hotel to a big chain or something, then think about selling the club afterwards?

Or is the hotel providing an income for the club?

Dirk Gently · by **Dirk Gently** » 11 Nov 2009 14:39

Ryn Why does the club have to be sold with the hotel? Can't Madejski pare them out and sell them off individually?

Sell the Hotel to a big chain or something, then think about selling the club afterwards?

Or is the hotel providing an income for the club?

The hotel is most definitely providing an income for the club.

Royal Lady · by **Royal Lady** » 11 Nov 2009 14:41

Isn't the "Millennium" a chain of hotels anyway? I thought he sold out to them, but used his name. Turns out, I was wrong...

Dirk Gently · by **Dirk Gently** » 11 Nov 2009 14:43

Royal Lady Isn't the "Millennium" a chain of hotels anyway? I thought he sold out to them, but used his name. Turns out, I was wrong...

He owns the hotel, and licences it to them. The most cost-effective way for everyone..

Ryn · by **Ryn** » 13 Nov 2009 09:41

Thanks for the info Dirk

*Thumbs up*

Terminal Boardom · by **Terminal Boardom** » 13 Nov 2009 13:29

Wooooo! Nero has actually spoken.

Terminal Boardom · by **Terminal Boardom** » 13 Nov 2009 13:58

What have these three got in common?

Thaumagurist* · by Thaumagurist* » 13 Nov 2009 14:05

They all look worried?

strap · by **strap** » 13 Nov 2009 14:18

Dirk Gently
Ryn Why does the club have to be sold with the hotel? Can't Madejski pare them out and sell them off individually?

Sell the Hotel to a big chain or something, then think about selling the club afterwards?

Or is the hotel providing an income for the club?

The hotel is most definitely providing an income for the club.

£500,000 net profit per annum before the extension. Might be more now since the extra rooms were added.

Mr Mad is owed £17.5Mill approx by RFC for the building of the hotel. I believe this loan is interest free.

He is also owed c. £8M by RFC for loans related to footballing activities. This loan was at 1% below base rate before the Credit Crunch, don't know whether the rate was renegotiated once the base rate went to 0.5%. I guess not, but there might be a clause that limits the rate to 0% in the event it went negative. No interest is paid on this loan. It accrues annually and currently the Club owes Mr Mad just over £2M in accrued interest.

As we know, there is now no bank overdraft, but there are other minor loans to various parties, although nothing of much significance comapred to Mr Mad's loans.

All this information is in teh public domain. See Companies House website for details of how to access it.

Silver Fox · by **Silver Fox** » 13 Nov 2009 15:22

Terminal Boardom What have these three got in common?

No, you've got me

RoyalBlue · by **RoyalBlue** » 13 Nov 2009 15:26

Terminal Boardom What have these three got in common?

All three could do with a new hair stylist?

VOR · by **VOR** » 13 Nov 2009 20:20

STAT ATTACK

Reading.............Ipswich
4....Shots On Target.....6
13...Shots Off Target....312...Fouls (Conceded)...13
12.........Corners.........5
0.......Yellow Cards.......0
0.........Red Cards........0

SDR STAT ATTACK

Useful Observations...... 0
Perceptive Comments.....0
Off-Target Remarks.......100%
Repetitive Self-Serving
Bullshit......................100%
Yawn factor.........Off The Scale

Piss off back to the stone you have been hiding under

Terminal Boardom · by **Terminal Boardom** » 13 Nov 2009 22:14

CAN YOU NOT SEE?

Where's Madejski?

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