Oh, What A Lovely Defecit!

[DOYLERSAROYALER]

He needs the cash to bail out his other failing companies

Well he can use some of his c£260m fortune to do that, and not bleed the club dry of its funds ....and lets not say its all tied up ..

[RoyalBlue]

The issue with selling the club is that we don't have much in the way debt. That makes a lot of clubs much easier to purchase. £1 (for example) up front and 250 million over 20 years.

With RFC, it's not that. It's 50 million up front. JM isn't joking when he says you need to be a billionaire, as the person buying the club needs to be able to afford 50 million.


Personally I think Madjeski needs to forget about selling to a single buyer. He needs to find a syndicate of local business men & women interested in investing in the club with him. We need the combined resources of several buyers.

There is another way - he could stay with the club but let some rich investors come on board with him. But would he want to share his ball?

Whoops! Missed the 'with him' sorry!

Still don't think he'd be prepared to share his toy though!

[Ian Royal]

LOLLY

"We aren't spending enough, we need to spend more! We've got a deficit we must be badly run!"

Is it just me that finds the fact that plenty saying the first also saying the second quite funny as they're complaining we're spending more than we get in, yet still want us to spend millions more?

[FiNeRaIn]

This nonsense has gone on long enough. I see shit clubs around us getting bought when they are in massive debt, havent been in the prem in years and are generally poor in the playing department, yet this "well run club", recently in the prem, lots of quality youngsters and a great catchment area...while being debt free can't attract any serious buyers?

Own up, what is going on....this has gone on long enough now and we deserve the truth, what are the board up to?

[The Rouge]

This nonsense has gone on long enough. I see shit clubs around us getting bought when they are in massive debt, havent been in the prem in years and are generally poor in the playing department, yet this "well run club", recently in the prem, lots of quality youngsters and a great catchment area...while being debt free can't attract any serious buyers?

Own up, what is going on....this has gone on long enough now and we deserve the truth, what are the board up to?

See my post for answer?

[fester_royal]

In twenty years of being a season ticket holder I have almost always been on the side of the rfc board and sjm. We are a stable well run club who's not being chased by hmrc or anything else. We have a relatively nice stadium and training ground etc and our very existence is down to sjm stepping up at the 11th.

However even I am beginning to question what's going on. Yes we invested a few million back into infrastructure and I'm sure prem wages were inflated but this ever haunting black hole must be larger than the U.S national debt!! We buy players that cost pocket lint from lower leagues, pay them comparatively average wages for this league and sell them at large Mark ups and still lag behind our league competetors?!?! Football is an expensive game we all know that but if our competitors can manage and still survive at relatively little losses how are we accumulating 'black holes' being 'well run'?

[ZacNaloen]

It is impossible to be competitive in this league without some sort of budget deficit. Some clubs choose to ignore it, we choose not to take on further debt and loans if we don't have to. It really is as simple as that.

[DOYLERSAROYALER]

This nonsense has gone on long enough. I see shit clubs around us getting bought when they are in massive debt, havent been in the prem in years and are generally poor in the playing department, yet this "well run club", recently in the prem, lots of quality youngsters and a great catchment area...while being debt free can't attract any serious buyers?

Own up, what is going on....this has gone on long enough now and we deserve the truth, what are the board up to?

FineRain ...ive said it ...chairmans PR machine in full flow ...he will never ever sell and anyone who believes he will is sadly misguided ...he wants the attention..if you saw his documentary on him you wlll realise he's a very sad person that craves attention , and without having the club...he would never ever get it ....its a sham mate

[Libertine]

All I know is that the club is playing with fire if they think they can continually sell off their best talent and remain at the level they are. They have been fortunate to this point in time. One of these times the young talent, which is replacing what was sold, isn't going to come through for us. Then the death spiral free fall will begin with our "well run" club. Like a stone right through the lower divisions as revenues dry up...to the point we'll be so "well run" we'll have the lowest wage bill imaginable and very few fans coming to the games. It is much easier to run something which is that small well...and none of those nasty black holes which threaten to entirely destroy our beloved club every year.

[Royal Monk]

Well he can use some of his c£260m fortune to do that, and not bleed the club dry of its funds ....and lets not say its all tied up

It is tied up, he has several companies bleeding him dry , he doesnt have millions in the bank , his wealth is based on the value of his companies.
Just take a look at his printing company and see how much that has cost him to bail out in the last 2 years (over £50,000,000 i think , i will look for the article)

[DOYLERSAROYALER]

Well he can use some of his c£260m fortune to do that, and not bleed the club dry of its funds ....and lets not say its all tied up

It is tied up, he has several companies bleeding him dry , he doesnt have millions in the bank , his wealth is based on the value of his companies.
Just take a look at his printing company and see how much that has cost him to bail out in the last 2 years (over £50,000,000 i think , i will look for the article)

..£50m?? ...bit of a lack of business foresight then for a man who sees himself as a bit of a business guru ....didnt he see it coming or was he too engrossed in Cilla at the time ?

[Libertine]

Well he can use some of his c£260m fortune to do that, and not bleed the club dry of its funds ....and lets not say its all tied up

It is tied up, he has several companies bleeding him dry , he doesnt have millions in the bank , his wealth is based on the value of his companies.
Just take a look at his printing company and see how much that has cost him to bail out in the last 2 years (over £50,000,000 i think , i will look for the article)

Then he should get out. Take the 20 or 30 mil and run. He should be focusing on more important things than trying to run a football club. If that is the case he isn't much of a businessman imo.

Unless these black holes we keep hearing about, which result in no capital being reinvested in the team, means the capital is being earmarked for his other commercial ventures. And if that is the case it would also mean he should get out...

He sounds like he is another in a long line of millionares who want you to believe they are really paupers...one step from panhandling.

[Royal Monk]

My memory wasnt to good it was a £38m loss in 24 months trading but this makes a good read ....

http://community.printweek.com/forums/p/5851/36553.aspx

[MmmMonsterMunch]

Have to say all the bitching before we've even kicked a ball or finished signing anyone is a tad premature.

This was all said last summer & we got an FA cup qtr final & play-off runners up. See no reason why we won't be there or thereabouts next May. I don't think for 1 sec they would have let Mills go without having a replacement in mind.

Have a little faith - we'll do ok.

[Ian Royal]

Well he can use some of his c£260m fortune to do that, and not bleed the club dry of its funds ....and lets not say its all tied up

It is tied up, he has several companies bleeding him dry , he doesnt have millions in the bank , his wealth is based on the value of his companies.
Just take a look at his printing company and see how much that has cost him to bail out in the last 2 years (over £50,000,000 i think , i will look for the article)

Then he should get out. Take the 20 or 30 mil and run. He should be focusing on more important things than trying to run a football club. If that is the case he isn't much of a businessman imo.

Unless these black holes we keep hearing about, which result in no capital being reinvested in the team, means the capital is being earmarked for his other commercial ventures. And if that is the case it would also mean he should get out...

He sounds like he is another in a long line of millionares who want you to believe they are really paupers...one step from panhandling.

The accounts show he hasn't taken money out up to at least suumer 2009, if not 2010 iirc.

Madejski simply isn't going to sell to any person who offers him his money back. He took over the club to build something permanent in Reading and he's not going to risk his legacy getting pissed away by someone looking for a short term plaything or means of laundering dodgy money.

At the moment the club isn't costing him much if anything, because he's making it operate using its own revenue streams and not putting more in.

[MmmMonsterMunch]

Can anyone hazard a guess as to when the long term loans will be paid off? Are we talking 25 years or more?

[Libertine]

How can we know what is going on with the team Ian when most of the transfer fees we are receiving are "undisclosed"? Is there a link where I can check out a detailed financial statement from the club? I'd be interested in seeing it.

[Ian Royal]

How can we know what is going on with the team Ian when most of the transfer fees we are receiving are "undisclosed"? Is there a link where I can check out a detailed financial statement from the club? I'd be interested in seeing it.

You can get the published accounts for the club up to summer 2010. Not sure how and you'd possibly have to pay for them.

[Royal Lady]

Don't think the accounts detail how much was paid for who or received for who though - if it is "undisclosed". Isn't it just all lumped in together as transfer fees in and fees out or something?

[Libertine]

How can we know what is going on with the team Ian when most of the transfer fees we are receiving are "undisclosed"? Is there a link where I can check out a detailed financial statement from the club? I'd be interested in seeing it.

You can get the published accounts for the club up to summer 2010. Not sure how and you'd possibly have to pay for them.

Ahhhh, ok. I will check into it and if the cost is not too prohibitive I might "purchase" an accounting of the financials for the team...

To save me the trouble, has anyone else purchased a said copy of our favorite team's financials which they might be willing to share