Confimred new owners of Raeding Footbal Club

[ZacNaloen]

Or maybe it means that transferring a few million isn't like in the movies and requires sign off, and the type of banker that would sign that off spends half their year on the golf course?

[Elm Park Pasty]

Goold old Dim, now saying it wont happen before the weekend because of senior bankers.. so what does that tell us? He's either completely wrong again, or the consortium wanting us has no money and needs to loan it to buy us?

Added to this was Charles Watts last night tweeting that he had heard the Terrible TSI Twins may be on the fringes of this consortium.....

[ZacNaloen]

He said Regrading, whatever that means

Unless it was a typo

[leww_rfc]

Or maybe it means that transferring a few million isn't like in the movies and requires sign off, and the type of banker that would sign that off spends half their year on the golf course?

What golf course? Maybe Le Fondre met him there..

[Nameless]

Goold old Dim, now saying it wont happen before the weekend because of seniorbankers.. so what does that tell us? He's either completely wrong again, or the consortium wanting us has no money and needs to loan it to buy us?

Is it's not Becks, it' s Big Trevor fronting the deal !

I'm in for that !

[multisync1830]

Goold old Dim, now saying it wont happen before the weekend because of senior bankers.. so what does that tell us? He's either completely wrong again, or the consortium wanting us has no money and needs to loan it to buy us?

Or more likely as I said earlier SJM is out of the country til monday

[multisync1830]

Or maybe it means that transferring a few million isn't like in the movies and requires sign off, and the type of banker that would sign that off spends half their year on the golf course?

|You don't understand the world of asset management. If a deal is on the table no one goes home until it's done

Wall Street never sleeps.

late last night I was given the name of the American consortium. if it is them (TBC) you'd better hope the Indian comes in and rescues the club from the cowboys.

[SPARTA]

Or maybe it means that transferring a few million isn't like in the movies and requires sign off, and the type of banker that would sign that off spends half their year on the golf course?

|You don't understand the world of asset management. If a deal is on the table no one goes home until it's done

Wall Street never sleeps.

late last night I was given the name of the American consortium. if it is them (TBC) you'd better hope the Indian comes in and rescues the club from the cowboys.

Oh great.

[Got the T-Shirt]

Jerral Wayne "Jerry" Jones Sr

[dogzbollox]

Problem with him is?

[elman]

one of the problems is he like to fire coaches (managers0 and run things himself. Adkins out

[Pepe the Horseman]

Interview by @BBCBerkshire with former #readingfc director Chris Samuelson going on @BBCSport website soon. Fascinating, revealing stuff.

Hashtag excited.

[ZacNaloen]

Or maybe it means that transferring a few million isn't like in the movies and requires sign off, and the type of banker that would sign that off spends half their year on the golf course?

|You don't understand the world of asset management. If a deal is on the table no one goes home until it's done

Wall Street never sleeps.

late last night I was given the name of the American consortium. if it is them (TBC) you'd better hope the Indian comes in and rescues the club from the cowboys.

Maybe I was being facetious because I'm bored of all you ITKs?

If you know the name say it.

[Royal Ginger]

Or maybe it means that transferring a few million isn't like in the movies and requires sign off, and the type of banker that would sign that off spends half their year on the golf course?

|You don't understand the world of asset management. If a deal is on the table no one goes home until it's done

Wall Street never sleeps.

late last night I was given the name of the American consortium. if it is them (TBC) you'd better hope the Indian comes in and rescues the club from the cowboys.

Maybe I was being facetious because I'm bored of all you ITKs?

If you know the name say it.

He's trying to get us speculating that it might be Jerry Jones owner of the Dallas Cowboys. I'm with you Zac, It's getting a bit boring.

[Bowman's Quiver]

Anton Zingarevich 'saddened' by Reading plight

Former Reading majority shareholder Anton Zingarevich is "saddened" by the Championship club's situation, but a takeover is close, according to departing director Chris Samuelson.
Zingarevich bought 51% of Reading in May 2012 and had been due to complete a full takeover in October last year.
However, the Russian pulled out of the deal and the club have been looking for new investment ever since.
"Anton is very disappointed," Samuelson told BBC Radio Berkshire.
"He is still a big supporter of Reading Football Club. However, circumstances change, but he still feels a great warmth and is sad he did not deliver and let the stakeholders down."
Samuelson, whose exit from the board was announced this week, confirmed the club were around £20m in debt and any new owner should expect to make an initial £50m investment.
However, after receiving several firm offers, he said the club's lenders, who were now brokering a deal for Reading, were close to finalising terms.
"Sir John (Madejski - Reading chairman) has handed power over the lender," added Samuelson. "I hope the lender realises that the value of this club is little more than the deficit today when you consider all the parameters.
“
The hope was Anton would be able to arrange additions finance, which he said he would do, the club had hoped to expected to move on some players which did not happen
”
Chris Samuelson
"I'm aware of one party who are producing proof of funds as we speak. They have submitted an offer with a timescale of it to be done very fast.
"They are an investment company and have substantially deep pockets. They have offered to clear the debt, buy the hotel and invest in the team so they can challenge for promotion and invest in Bearwood (new training ground and academy). They are serious contenders."
Samuelson also confirmed the interest of Indian businessman Mohit Burman, who is part-owner of IPL cricket team Kings XI Punjab, adding: "Whether they realise the extent of money needed to invest in Reading FC, I am not sure."
Since Zingarevich became involved with the club in January 2012, Reading have been promoted to the Premier League and relegated back to the Championship.
Promotion to the top flight in 2012 earned the Royals an estimated £90m, with half of that money coming from television-related revenue, but they missed out on an immediate return to the Premier League this season.
Samuelson said their debt was "generated by the residue of being in the Premier League", and also revealed why Zingarevich had withdrawn his interest in the club.
"When Reading were promoted it had to rely on the resources it had," he said.
"It did not get any extra investment from Anton Zingarevich which it expected. The only way to bolster the team was to borrow money. Loans were arranged and secured on Premier League payments.
"The hope was Anton would be able to arrange additional finance, which he said he would do, the club had hoped to expected to move on some players which did not happen. Underneath the top tier of players the market was very dead last summer.
"Anton told me he had some issues of his own back in Russia and that is why he found himself in the awkward position of not having the money for the remaining 49% and the money to finance the team. There was a compromise agreement reached with (his father) Boris Zingarevich to help finance the club

[akranes]

Anton Zingarevich 'saddened' by Reading plight

Former Reading majority shareholder Anton Zingarevich is "saddened" by the Championship club's situation, but a takeover is close, according to departing director Chris Samuelson.
Zingarevich bought 51% of Reading in May 2012 and had been due to complete a full takeover in October last year.
However, the Russian pulled out of the deal and the club have been looking for new investment ever since.
"Anton is very disappointed," Samuelson told BBC Radio Berkshire.
"He is still a big supporter of Reading Football Club. However, circumstances change, but he still feels a great warmth and is sad he did not deliver and let the stakeholders down."
Samuelson, whose exit from the board was announced this week, confirmed the club were around £20m in debt and any new owner should expect to make an initial £50m investment.
However, after receiving several firm offers, he said the club's lenders, who were now brokering a deal for Reading, were close to finalising terms.
"Sir John (Madejski - Reading chairman) has handed power over the lender," added Samuelson. "I hope the lender realises that the value of this club is little more than the deficit today when you consider all the parameters.
“
The hope was Anton would be able to arrange additions finance, which he said he would do, the club had hoped to expected to move on some players which did not happen
”
Chris Samuelson
"I'm aware of one party who are producing proof of funds as we speak. They have submitted an offer with a timescale of it to be done very fast.
"They are an investment company and have substantially deep pockets. They have offered to clear the debt, buy the hotel and invest in the team so they can challenge for promotion and invest in Bearwood (new training ground and academy). They are serious contenders."
Samuelson also confirmed the interest of Indian businessman Mohit Burman, who is part-owner of IPL cricket team Kings XI Punjab, adding: "Whether they realise the extent of money needed to invest in Reading FC, I am not sure."
Since Zingarevich became involved with the club in January 2012, Reading have been promoted to the Premier League and relegated back to the Championship.
Promotion to the top flight in 2012 earned the Royals an estimated £90m, with half of that money coming from television-related revenue, but they missed out on an immediate return to the Premier League this season.
Samuelson said their debt was "generated by the residue of being in the Premier League", and also revealed why Zingarevich had withdrawn his interest in the club.
"When Reading were promoted it had to rely on the resources it had," he said.
"It did not get any extra investment from Anton Zingarevich which it expected. The only way to bolster the team was to borrow money. Loans were arranged and secured on Premier League payments.
"The hope was Anton would be able to arrange additional finance, which he said he would do, the club had hoped to expected to move on some players which did not happen. Underneath the top tier of players the market was very dead last summer.
"Anton told me he had some issues of his own back in Russia and that is why he found himself in the awkward position of not having the money for the remaining 49% and the money to finance the team. There was a compromise agreement reached with (his father) Boris Zingarevich to help finance the club

Actual news, which is nice.

[Royal Rother]

Samuelson said he's handed over all the papers to the advisors and that one of the proposed purchasers has made an offer for the Hotel, to clear off the existing debts and carry out the full development of Bearwood.

He also said that Anton is extremely sad about the fact that the money was not forthcoming - apparently a friend who was going to be a co-investor backed out. He remains a supporter of RFC. That's nice then.

Edit: Ah, see above!

[RoyalBlue]

So, as many suspected, despite having left the board, it looks very much like Samuelson is still heavily involved in the sale.

Yet still the gullible hang onto and swallow every word that they are fed by club & chairman without opening their eyes and questioning what the sub text might be.

[multisync1830]

Maybe I was being facetious because I'm bored of all you ITKs?

why not sit back and enjoy the ride. ?

[Hendo]

And yet the blinkered still demand there must be sub-text to everything.

You saying the gullible can't open their eyes..... The irony.