Madman: Your time is Uppppppppppp

[Harpers So Solid Crew]

I seem to recall that SJM is owed £8.8m from the football club, which is about half the acrued losses over that period.

[Harpers So Solid Crew]

Did, or did not, JM pay for the extension to the hotel out of some of the money from the football club - under "something or other Holdings Ltd"?

We wont be able to tell untill the next lot of accounts are out. His loan to the Hotel was at a tad over £17m at June 2008, and had not increased over the previous two years accounts.

[Yellowcoat]

In response to RL the hotel has been an additional source of income into the Holdings company over the last few years. Therefore from a business point of view it makes sense to invest in it to increase further that source of income in the future. The Football Club and stadium are not self supporting on their own which is why additional activities are needed. Despite what you think it is not a drain on the football club.

[Royal Lady]

Ta - so, basically, none of the paracute payments or anything have been taken from the football club side into the hotel side at any time? Cheers.

[Yellowcoat]

I do not have the accounts to hand but the point I am making is that any investment in the hotel has (or will) provide
a greater source of income for the group (including RFC). You really should not attribute that investment to any particular source but treat it as group activities which are mutually beneficial.

[Mad Dog's Ghost]

Yellowcoat,

Do you know if the hotel has significantly increased its turnover since the extension? Seem to recall reading about low occupancy rates due to increased competition from the likes of the nearby Hilton and also because of the financial downturn.

Wondering whether this large investment has so far been 'mutually unbeneficial' for the club and holding group.

[Yellowcoat]

Believe there has been an upturn but need to see accounts to confirm. From memory past contributions were running at about 5 million pa.

[Mad Dog's Ghost]

Wow, if correct, that's a recession-busting success story. Well done the Millennium Madejski.

[brendywendy]

as far as im aware the hotel is pumping profits into the football club, so if he payed for the extension using RFC funds, which will in turn bring us more money in, that sfair enough imo

[DOYLERSAROYALER]

Id assume that those architects plans for the stadium extension (another part of the Chairmans PR campaign) have been well and truly shredded in the clubs admin office by his loyal servant Hammond !

F**k Hammond's wages alone would go some way to getting something positive done on the pitch

If he went tomorrow would the club buckle ??? If the answer is No then why is he there in a role that is becoming yesterdays fashion!...he's doing what Howe should be doing, but lets not get onto that one...because he is an embarrassment to the club

[Yellowcoat]

Yet another with superior insight without any knowledge of their actual roles!

[Gordons Cumming]

Id assume that those architects plans for the stadium extension (another part of the Chairmans PR campaign) have been well and truly shredded in the clubs admin office by his loyal servant Hammond !

F**k Hammond's wages alone would go some way to getting something positive done on the pitch

If he went tomorrow would the club buckle ??? If the answer is No then why is he there in a role that is becoming yesterdays fashion!...he's doing what Howe should be doing, but lets not get onto that one...because he is an embarrassment to the club

Rather he than Howe, who knows b*gg*r all about football. Trust me.

[DOYLERSAROYALER]

Yet another with superior insight without any knowledge of their actual roles!

So come on Yellowcoat, obviously someone close to the board and their activities - give me some information that makes me think Ive got it wrong about both Hammond and Howe ... facts would be good because from where I am, I do not see the value they add to the club for their CONSIDERABLE wage....

but obviously you are in the know...so looking forward to your detailed response

[Yellowcoat]

Not up to me to justify their positions. Just asking you to think things through before making statements about things you have no knowledge of.

[DOYLERSAROYALER]

Not up to me to justify their positions. Just asking you to think things through before making statements about things you have no knowledge of.

Im not sure theres a great deal to think through tbh - club are like New Issue sellers at the moment..and we have two highly paid people in the club that do not appear to offer any value in taking the club forward...if we lost Hammond tomorrow (say he walked out!) do you think Madejskis priority would be to replace him....dont think so

As far as Howe goes hes the f..cking Chief Executive...but does anyone see him, hear from him, what does he do????? Im not saying I know what he does, but im struggling to work out how he earns his crust ...as Cummings said, he knows NOTHING about football so hes probably more involved with Madejskis property interests, as thats his kitbag...but why have him on the clubs payroll?????

[holsgrove breaks a leg]

The biggest mistake Sir John has made is allowing himself to be swayed by a few short-sighted fans. If he'd stuck to his guns and given his full backing to Rodgers, the future for Reading would be a lot brighter.

Rokerite= tommy smith in disguise

Something tells me that you would have even waxed lyrical about the hapless tenure of your own Terry Butcher and Mick Buxton.....

[Terminal Boardom]

Id assume that those architects plans for the stadium extension (another part of the Chairmans PR campaign) have been well and truly shredded in the clubs admin office by his loyal servant Hammond !

Not at all. There is an application for an extension to the original application. Have a look on one of the lamp-posts on the approach to the South Stand. Quite clear for all to see - or at least it was when I last saw it.

[RoyalBlue]

Id assume that those architects plans for the stadium extension (another part of the Chairmans PR campaign) have been well and truly shredded in the clubs admin office by his loyal servant Hammond !

Not at all. There is an application for an extension to the original application. Have a look on one of the lamp-posts on the approach to the South Stand. Quite clear for all to see - or at least it was when I last saw it.

Very unlikely to be evidence of Madejski's commitment to the future and far more likely to be associated with making the club more attractive to any potential purchaser. Adds 'value' to the property just as it does if you have planning permission granted for an extension to your house.

[RoyalBlue]

HSSC the figures you have highlighted still show accumulated pre tax losses of over 15 million pounds (even with a missing year). Yet again making a nonsense about 'where has all the money gone' from the Premier League. People believe SJM is taking money back out of the club without any evidence to support this view. Given the state of the finances this is even less likely but the next available accounts will enable the facts to be established. Trouble is that headline figures of transfer fees are believed wrongly to be instant cash and no account whatsoever is taken of the considerable running costs and higher salaries than most expect. A tinge of realism is needed by the usual squad of harsher critics who appear to have no knowledge of running businesses from their ill informed rants.

I am a member of that squad. I do have knowledge of running businesses and, although not an egotistical multi-millionaire, have done reasonably well out of it. It is for that reason that I know damn well that a sterile set of accounts rarely tell you the full story.

And for all of the Madejski fans out there, please answer the following:

In the past have Madejski and his sidekicks repeatedly boasted about how well the club has been run as a proper business?


As the answer to the first question can only be yes:

Given how wonderfully well the club has been run as a business, why is it that, having had a fantastic championship winning season and two seasons in the promised land of plenty, we now find ourselves worse off in terms of being able to sign players and compete effectively at Championship level, than we were before we got promoted?
The two scenarios are very much at odds with each other. Something went wrong somewhere.

Oh, 'The banks wanted their money back.' What a surprise! The man who has made it quite clear that he is the reason the club is successful very publically states he wants out and the lenders suddenly get all jittery about the security of their funds!

[Harpers So Solid Crew]

The answer to the question RB is that we had little money the season or so before we got promoted, we had the core of a good team, that had been built on the brick by brick approach. Now we have some good youngsters, but most are not of the standard of the players we had in 04/05. We then signed some rough diamonds when Coppell came along, and a lot did the business.

What we have now is Siggy, feds, Mills, Kebe, McAnuff, prob Church, but they need better players to be added to become a decent team, and a manager that knows where to aim for , eg 4-4-2 or 4-5-1