Confimred new owners of Raeding Footbal Club

[WoodleyRoyal]

Delighted that the money vampires have left. Were sucking dry everything of what was good about this club.

The most important part of that statement though is the first sentence. Whatever happens over the next few weeks regarding takeovers we can now be reasonably confident that we will have a healthy-ish club to support come early August. Keep it up Sir John, one last big job for you to complete and then you can enjoy a well earned rest from the constant scrutiny of a mong infested supporter base.

+1

[CholseyRoyal]

Delighted that the money vampires have left. Were sucking dry everything of what was good about this club.

The most important part of that statement though is the first sentence. Whatever happens over the next few weeks regarding takeovers we can now be reasonably confident that we will have a healthy-ish club to support come early August. Keep it up Sir John, one last big job for you to complete and then you can enjoy a well earned rest from the constant scrutiny of a mong infested supporter base.

+1

+2

[PieEater]

I think he missed a trick in that press release by not opening it with "FAO RoyalBlue"

[Elm Park Pasty]

I think he missed a trick in that press release by not opening it with "FAO RoyalBlue"

+1

[Elm Park Pasty]

I read it that AZ is more of a silent partner. When SJM sorts out a sale, it has to be agreed by TSI as major shareholder, but as long as it meets their criteria for paying back their debt they will probably rubber stamp. I may be wrong, but I don't actually recall seeing it written anywhere official that AZ has handed back the shares.

If multisyncs info is true then TSI are no longer shareholders, they gave them back to SJM.

Hence my comment about it being written anywhere official. If SJM has full control of the shares than presumably AZ is now a creditor, but SJM's comment about the club being financially secure without threat of administration suggests (to me at least) that AZ is not looking to call in the debt.

[Silver Fox]

I think he missed a trick in that press release by not opening it with "FAO RoyalBlue"

although I'd throw in a "ya pcunt" too

[multisync1830]

Maybe SJM has played a blinder on it, refused to answer his phone over the last few days then just given them the fist-pumping 'bye, bye' on June 1st when the so called deadline was reached.

that very phrase went through my mind but I believe SJM is honourable and wasn't working towards that outcome.

However I did have a PM with a legal chap here some time ago who suggested although written it was only an offer not a contract and as such not legally binding.
It was also written back in Sept 13 so a lot of water has gone under the bridge since then, So whilst I have my belief the ducks are lined up towards this being the likely reason for TSI reigning on masse I do not have actual evidence.

However again if true, it suggests TSI were not crooks or asset strippers, rather misguided as to the costs of running a football club and naive dreamers in thinking they could raise the additional 12m and continue onwards to fund the ever growing losses.

It is also my firm belief that AZ had invested (14m+6m) 20m total whilst his father was underwriting the losses till the June deadline. So an expensive lesson learnt..

[Extended-Phenotype]

I'm glad his press release was so crystal clear and open that it's generated over 20 different interpretations of what it could mean.

[Tilehurstsouthbank]

I'm glad his press release was so crystal clear and open that it's generated over 20 different interpretations of what it could mean.

[P!ssed Off]

Was all happy about the statement until I came on here.

[Martin41]

Good news!!! Big thing is surely get said the club is secure going forward.
Surely at this moment in time that's all we need to know.
Of course if that's the case, it will really piss off the itk people, what will they know now?????
Also if we are secure does that mean we might sign some players????

[WoodleyRoyal]

Good news!!! Big thing is surely get said the club is secure going forward.
Surely at this moment in time that's all we need to know.
Of course if that's the case, it will really piss off the itk people, what will they know now?????
Also if we are secure does that mean we might sign some players????

no

[RoyalBlue]

I think he missed a trick in that press release by not opening it with "FAO RoyalBlue"

And now you fools give the great Ego praise for possibly sorting out the mess that he created in the first place?!!

So now all he needs to do is provide the money (not from player sales) to cover the tax bills that the incredibly well run business that is Reading FC ran up during the past couple of years that he has been chairman and in day to day control.

And before he is given even more credit, Fordham makes the valid point that just because Samuelson and his mate are off the board doesn't mean that they are off the payroll or have completely disappeared.

As for the assurances of funding being in place - just how short are your memories? This is the guy who is on record as saying that funding would be available to Adkins during the last transfer window!

[Schards#2]

If Anton/TSI still have 51% of the decision making process, I can't see how the 'financially secure' statement can be true.

I would imagine Anton/TSI now have no part of the decision making process but have negotiated some sort of guaranteed 'reserve price' on what they will receive post any sale in lieu of forgoing this.

Good to see SJM acknowledging the fans faith in renewing season tickets despte the uncertainty

[PieEater]

So now all he needs to do is provide the money (not from player sales) to cover the tax bills that the incredibly well run business that is Reading FC ran up during the past couple of years that he has been chairman and in day to day control.

You keep peddling this myth but he was not in control when AZ made all the expensive signings that are now screwing us.

[kwik-silva]

I think he missed a trick in that press release by not opening it with "FAO RoyalBlue"

And now you fools give the great Ego praise for possibly sorting out the mess that he created in the first place?!!

So now all he needs to do is provide the money (not from player sales) to cover the tax bills that the incredibly well run business that is Reading FC ran up during the past couple of years that he has been chairman and in day to day control.

And before he is given even more credit, Fordham makes the valid point that just because Samuelson and his mate are off the board doesn't mean that they are off the payroll or have completely disappeared.

As for the assurances of funding being in place - just how short are your memories? This is the guy who is on record as saying that funding would be available to Adkins during the last transfer window!

I feel like you need a good cuddle

[howser]

Delighted with the news that TSI are no longer attached to the club, accepting that they might still be on the pay roll of course, Sir John can now get on with the main item on the clubs agenda. The Burman interest has to be the acceptable one, he has a proven track record of backing his sporting investments, there will be some new blood at boardroom level, especially as the two remaining obstacles have now been removed.

[blythspartan]

This feels like good news but I guess time will really tell whether it is.

The last part of SJM's message could indicate that that although there has been no firm offer as of yet, there could be one soon.

It may just be coincidental but the timing of this announcement along with the Indian guy meeting SJM on Wednesday might mean a deal could be imminent.

[Esteban]

We added three directors to the board a week or so ago and our credit rating improved. We've now removed three directors involved with our holding company, which we owe money to. We've also sold a player, which we might conclude, was done to help settle a tax bill.

I think we may have struck a deal to structure our debts differently, ensuring we are not in danger of falling into administration. If so, it has the added bonus of removing a layer of complication at board level, strengthening SJM's position in terms of the sale. The debt will still need to be serviced in some manner, but Madejski may have used the tax bill as leverage to remove TSI from the board. However, as 51% shareholders, I am sure they have not simply walked away.

I'd suggest that any potential sale has inched forwards on this news, but no more. Unless something comes of Burman's meeting with Madejski on Wednesday, it could still be a long summer for us. Time will tell.

[blueroyals]

Delighted with the news that TSI are no longer attached to the club, accepting that they might still be on the pay roll of course, Sir John can now get on with the main item on the clubs agenda. The Burman interest has to be the acceptable one, he has a proven track record of backing his sporting investments, there will be some new blood at boardroom level, especially as the two remaining obstacles have now been removed.

Apart from the fact that they still own us?