Madejski's comments to BBC Radio Berkshire

[howser]

So with JM not subsiding the club any more, it is fair to presume that we are so to speak "on our own" as has been stated before, he laid his criteia down as to get the club in the Premiership, not to keep them there, so he will now think that he has completed his "brick-by-brick" promise he made all those years ago. So where do we go from here ? I do hope that now he has washed his hands of the beast he built they are charging him and his expensive guests for thier seats. In all honesty after his last qoutes in the EP, why doesn't he just go ! hell I wish you people would give him some serious shit at the next home game.

[brendywendy]

he wants to go FFS
hes said it often enough

id rather him at the helm than half of the prem chairmen to be fair


im not sure why him aspiring to make us self financing should lead to such ridicule, hatred, and vitiol against him

[howser]

He says he wants to go FFS
But the club is only worth a fraction of what is was 2 years ago FFS
Not many millionaires but Champioship club FFS
So what if he is here in five years time FFS
where FFS will we be then FFS
To be successful at this level you need financial support from your owner FFS

[westendgirl]

Finally people are realising what this bloke is about. Madejski is filling his pockets to go and when he walks and is bought out he will have made a profit. Good business I suppose but I just want rid of him asap.

I am no apologist for JM - in fact I have serious doubts about him in some aspects but as far as him having his loans repaid, anyone who thinks he lent the money in the first place with any anticipation of repayment is in cloud cuckoo land. Also he has converted a fair amount of loans to shares and so will not see any of this until the club is sold. And for those just calling for him to go, who do you want in his place? Just someone with money no matter how they got it and whether they have any regard for the club? I don't, but unless JM finds that buyer, and so far despite everyone in football knowing he wants out, there has been no new sugar daddy waithing to throw millions into the club and no sign of the other money he has put into the club ever materialising.

So all you calling for him to go what do you intend if he just says I can't sell but I've had enough so it is up to you now to keep the club afloat?

[brendywendy]

He says he wants to go FFS
But the club is only worth a fraction of what is was 2 years ago FFS
Not many millionaires but Champioship club FFS
So what if he is here in five years time FFS
where FFS will we be then FFS
To be successful at this level you need financial support from your owner FFS

in th etime hes been here weve grown from a club who play in a shed in front of 5000 people in the 2nd/ third tier of english football to an established and almost self financing championship/yoyo club with a new 25K stadium that is nearly full every week
if hes still in charge for another ten years i would back him to continue to grow the club in much the same way

im not sure that bringing any old bod to pour his cash into a bottomless pit is either welcome, or adviseable-
and im not sure if his aspiration to run us as a business is as laughable as you seem to think

but i understand that you feel differently.thats ok!

FFS

[howser]

I dont think I said "laughable", surprisingly I have long distant memories of the "old" days back as far as 1963, the run as a business is the dream that most clubs would sign up to, but if that is the future prospects for the club then that type of operation will never reach the dizzy heights of the Premiership, we all want that again and if it isnt going to be the ambition and desires of the present owner then it is best for everyone concerned if he departs and allows someone to come in who, whilst not doing "throw money at it" senario will support the club and the management to improve. The overriding thoughts from JM's comments are what ever we do we must not get back into the horrible expensive Premier League, and he will make damn sure we dont. Contrary to what is becoming the minority on here, I have lost faith with his tenureship as far back as the start of the year, when we got all the talk about players coming in etc..... at least we are now getting to see what his vision for the future of the club is, I think what he has done for the club has been second to none but he has achieved all he wanted to and now has no interest.

[Platypuss]

Finally people are realising what this bloke is about. Madejski is filling his pockets to go and when he walks and is bought out he will have made a profit. Good business I suppose but I just want rid of him asap.

I am no apologist for JM - in fact I have serious doubts about him in some aspects but as far as him having his loans repaid, anyone who thinks he lent the money in the first place with any anticipation of repayment is in cloud cuckoo land.

I'd totally agree with you if they were interest-free. Is that the case?

[Streets]

im not sure why him aspiring to make us self financing should lead to such ridicule, hatred, and vitiol against him

How many football clubs can actually achieve this long term outside the top four? None I'd say.

Sure, we could well have made £15m by selling Doyle, Shorey and Kitson by the end of next week, but that money more or less goes into this club paying for itself idea.

How long can we maintain selling our best players to fund the running of the club before we go tits up and bounce around the lower leagues once again?

In football, clubs just don't make enough money to run themselves, and it's getting worse.

You need someone with some millions to help bankroll you. Even if it was back to the days of a £800,000 summer signing each summer and a few players cheap. It built what we have piece by piece and a club trying to run itself wouldn't manage that long term.

[brendywendy]

Finally people are realising what this bloke is about. Madejski is filling his pockets to go and when he walks and is bought out he will have made a profit. Good business I suppose but I just want rid of him asap.

I am no apologist for JM - in fact I have serious doubts about him in some aspects but as far as him having his loans repaid, anyone who thinks he lent the money in the first place with any anticipation of repayment is in cloud cuckoo land.

I'd totally agree with you if they were interest-free. Is that the case?

i think "at preferential rates" is the term used

[SpaceCruiser]

I am no apologist for JM - in fact I have serious doubts about him in some aspects but as far as him having his loans repaid, anyone who thinks he lent the money in the first place with any anticipation of repayment is in cloud cuckoo land.

I'd totally agree with you if they were interest-free. Is that the case?

i think "at preferential rates" is the term used

At something like 1%, maybe?

[brendywendy]

I'd totally agree with you if they were interest-free. Is that the case?

i think "at preferential rates" is the term used

At something like 1%, maybe?

i would imagine fixed at or around the rate of inflation or summink-
but i dont actually know

[westendgirl]

Finally people are realising what this bloke is about. Madejski is filling his pockets to go and when he walks and is bought out he will have made a profit. Good business I suppose but I just want rid of him asap.

I am no apologist for JM - in fact I have serious doubts about him in some aspects but as far as him having his loans repaid, anyone who thinks he lent the money in the first place with any anticipation of repayment is in cloud cuckoo land.

I'd totally agree with you if they were interest-free. Is that the case?

I have seen accounts for several years and from memory the loans to the football club ARE interest free and the loans to the hotel are at a rate below bankrate. I think I have a copy somewhere so will try to check and confirm.

[brendywendy]

good work westend girl!
he wasnt expecting that reply

[Northern Git]

For what its worth JM charges other companies that he controls Base rate +2% on a payment in kind basis.

The payment in kind can cover a multitude of sins (or otherwise)

[Northern Git]

I have seen accounts for several years and from memory the loans to the football club ARE interest free and the loans to the hotel are at a rate below bankrate. I think I have a copy somewhere so will try to check and confirm.

Whist you are there WEG can you have a look and see if there are any inter company managment charges? If so how much. Thanks in advance

[Rev Algenon Stickleback H]

I don't mind if Madeski 'fills his pocket' with what he is 'owed'. He's invested in this club, and he does deserve to get his money back,

that really is the crux of the issue. It's his money. If he takes back what he's owed as he feels he won't get it back through the club making a profit then that's disappointing, but ultimately it is his money. If we'd borrowed £40 million from Barclays Bank they'd want paying back too.

The question I suppose is why does he seem so keen to sell? After all, he stuck it out when we were crap and losing money every single year - why the urge to sell now?

[howser]

With the latest instalment of what JM said in his interview regarding the fact ,we, sorry forgot JM cant be considered as we now !!, Reading wont be spending large sums on transer fees or paying those nasty high salaries anymore ?, have we ever ???? do any of my wiser and more informed hob nobbers have any idea what his idea of large is ?? as that figure would allow us not to get too excited about new players they are alledgedly chasing once the fee is over his "acceptable" amount.

[westendgirl]

I have seen accounts for several years and from memory the loans to the football club ARE interest free and the loans to the hotel are at a rate below bankrate. I think I have a copy somewhere so will try to check and confirm.

Sorry got this the wrong way round - the loan to the hotel is interest free and the one to the football club is at 1% below HSBC base rate. The 2 loans are 17milion and 8million respectively.

Northern Git - in the related party transactions the only management fee mentioned is £50k charged by RFC

[Smoking Kills Dancing Doe]

I can answer one of those.

Does RFC own the Hogwood Park training complex? If not who does, and how much do RFC pay to use it?

Yes, they do - they've also spent a damn lot of money there over the past couple of years in upgrading the facilities. For instance (and it sounds fatuous and banal but it's true!) PL players' won't accept a canteen, they have to have a "restaurant, with chef.

There's also been quite a bit of money spent on the new media centre which was insisted upon to bring it up to PL standards.

So, in many ways, we are a lot stronger in the background and the way we're run than we were 3 years ago when we started the last CCC season.

Are you sure about that? Because there are things in the last R&A that would suggest not.

The Chairman's owns the training ground.

100%

[Smoking Kills Dancing Doe]

Finally people are realising what this bloke is about. Madejski is filling his pockets to go and when he walks and is bought out he will have made a profit. Good business I suppose but I just want rid of him asap.

I am no apologist for JM - in fact I have serious doubts about him in some aspects but as far as him having his loans repaid, anyone who thinks he lent the money in the first place with any anticipation of repayment is in cloud cuckoo land. Also he has converted a fair amount of loans to shares and so will not see any of this until the club is sold. And for those just calling for him to go, who do you want in his place? Just someone with money no matter how they got it and whether they have any regard for the club? I don't, but unless JM finds that buyer, and so far despite everyone in football knowing he wants out, there has been no new sugar daddy waithing to throw millions into the club and no sign of the other money he has put into the club ever materialising.

So all you calling for him to go what do you intend if he just says I can't sell but I've had enough so it is up to you now to keep the club afloat?

The fact is you can't deny that's that is not what he let people believe.

How many interviews has he given over the years talking of all the money he's given to Reading FC?

There's nothing wrong with what he's doing imo and another manager would have spent more money than Coppell has, but you can't claim that JM has been totally open when it comes to his financing of the club.