Platypuss Rev Algenon Stickleback H RoyalBlue Agreed. LOL at anyone who still believes that JM did what he did for RFC out of purely philanthropic motives.
If he has lost money it was probably a comparatively small price to pay for the widespread fame and adulation that he has enjoyed. This is a man who few people outside of the business community had heard of until he got involved in RFC. His name is now known by everyone in the world who has any interest in English football. You will will have extreme difficulty in convincing me that sort of thing is not very important to JM and/or that he is publicity shy.
I guess when he bought the club his motivation was that it might make him famous in 15 years time.
He was the saviour of RFC - it got him a heck of local attention for just 10p a share!
Managed to find that evidence he's lost £50M yet?
managed to find evidence that the club has paid back the £50 million he's spent yet?
No, the club didn't cost much. It was losing something like £10,000 a week and had done for a while. And he had to cover the debt, or I guess you believe he was making the club pay it back out of the "profits".
The cost of the share is irrelevant as he bought the whole company. And as a company it was worth sod all.
And Madejski was unknown outside Reading for years after he bought the club. It wasn't until the stadium was built that anyone else even knew his name. Even for years after than he was an obscure figure. The stars weren't exactly queuing up to be sat with him for home games against Bury.
Yeah, I'm sure a bit of local celebrity status was a bit of a draw, just as it has been for pretty much every single other chairman who has bought a club in the history of the game.
But yeah, you must be right. John Madejski took over a bankrupt, poorly supported third division club of no obvious prospects, with a run-down stadium locked into an unpromising site, because he knew it was his ticket to fame. And he also realised that his hugely valuable publishing empire was nothing compared to the fortune he could make out of the 3000 fans paying £5 a week 23 times a year.
Now you've explained it, the big picture makes much more sense.