Thames Sports Investment

[Uke]

Full conference:

http://www.youtube.com/watch?v=3rRRq6QzQFI&feature=youtu.be

Brilliant, just what you want to hear! All 27 mins of it!!

Loved the bit about Anton and Brian talking about football to 1am!

No chance of the owner meddling in team affairs then...

[chilipepper91]

I really want to find something bad about this. I really, really do.

But I can't.

[winchester_royal]

No chance of the owner meddling in team affairs then...

That was addressed. Anton apparently is very 'quietly spoken', and will not interfere. But will be able to have 'intelligent' conversations about football with Brian and Nicky.

Don't see how it can be a bad thing that the owner actually likes and can understand football...

[Friday's Legacy]

Chairman Sir John Madejski and future club director Chris Samuelson from Thames Sports Investment held a 35-minute press conference at Madejski Stadium today, and the club's official website has got the key points here in our press conference digest.

Key points:

• Sir John called the conference to show our fans the public side of TSI.

• Sir John is delighted because TSI are not going to change the prudent ethos of the club, and the club should no longer have to sell its best players in order to be sustainable.

• Sir John hopes the TSI news will encourage a big crowd this weekend.

• Brian McDermott has been given the exact transfer budget he wanted in this window - but the wage structure will not be broken.

• The club will go for Category One Academy status, the highest possible ranking, ensuring a bright future for our young talents.

• The contract Jimmy Kebe signed today was the same contract on offer before TSI were announced - Kebe was simply attracted to our ambitious new future.

• TSI described Reading as 'the ideal club' that belongs in the Premier League.

• TSI said they will take 51% of the club in stage one, for £25million.

• TSI confirmed that their founder Anton Zingarevich went to nearby Bearwood College, and he paid to watch the Royals play at Elm Park as a youngster.

• Chris said the Zingarevich's previous talks with Everton some years ago were for a minority stake, they withdrew and wish Bill Kenwright well.

• Anton met Brian McDermott in Milan last week. Anton was there to watch the Milan derby, and stayed up with Brian McDermott until 1am talking football.

• Anton will come to Reading as soon as possible - having followed last week's game here on the website.

• The Stadium name is not about to change, nor will there be any change to our partnership with London Irish.

i firmly believe that when stage two takes place and sjm is bought out completely, this will change as it will be seen as a good money making opportunity.

[Friday's Legacy]

Is the "long term plan to expand the stadium to 38K" the same capacity as the original planning application?

yes. same plans. the club had the planning permission re-approved as it drew close to it's expiry date.

[West Stand Flash]

having just watched south today, i almost feel like they're aiming too high, but if they can match their words with money then jesus christ we're in for one hell of a ride.

"we're going to aim for mid table in the premiership to begin with, then cups and european football"

I need to sit down.

What he said....

[Man Friday]

So, all those years that Madejski "invested" in the club turned out to be loans. Anybody can loan money. I'd have more respect had he invested as he implied he was doing. Could it be that the reason he struggled to sell before was that no one was prepared to repay his loans? Very, very disappointing. Typical false messiah stuff I guess.

[Ian Royal]

Full conference:

http://www.youtube.com/watch?v=3rRRq6QzQFI&feature=youtu.be

7 mins in and SJM sounds like he's trying to convince himself a little bit too much to me...
(joke admittedly)"he must be alright, he's had an English education",
(paraphrased)"I've met him and you can judge these things"
"I had every opportunity to speak to Bill Kenwright and I didn't because I didn't think I needed to." Err, nice faith SJM, just think it would have been smart to give your mate a bell.

It mostly sounds very good, but the Everton thing has me a little spooked, especially combined with SJM's financial situation and apparent growing disillusionment and desire to sell. Hope it's nothing and it probably is.

[Chaney]

on holiday at the moment but two words spring to mind right now......holy moses

[Platypuss]

Successful, but not successful enough to get promoted to the Prem? Tough criteria, Uke!

[Uke]

Successful, but not successful enough to get promoted to the Prem? Tough criteria, Uke!

It's hard to think of any foreign owned clubs with "rich owners" doing well and surviving outside the Prem though

Care to name any?

The new Messiahs have to perform some long lasting miracles before I believe in them with the blind faith some people have on here based on a press conference of platitudes

[ZacNaloen]

When a lot of these owners come in they splash massive cash trying to get promotion asap, leveraging these debts against the promise of promotion. However for every successive failure of a season those debts are worth less and less so the teams start to fall away as the investment does.

I want these guys to invest in exactly the same way Madejski did for the previous 20 years. Supporting the club ambitions, not pushing it too fast and too hard.

Everything suggests that this is what they intend, invest in the academy. Support the managers intentions in terms of buying players he needs and then invest in the stadium when the time is right.

This is pretty much John Madejskis business plan anyway, except with new money.

[exileinleeds]

Successful, but not successful enough to get promoted to the Prem? Tough criteria, Uke!

It's hard to think of any foreign owned clubs with "rich owners" doing well and surviving outside the Prem though

Care to name any?

The new Messiahs have to perform some long lasting miracles before I believe in them with the blind faith some people have on here based on a press conference of platitudes

Would you prefer a nice British owner.... Mike Ashley, Simon Jordan- hell, why not Simon Cowell?

Whilst I share everyones concern that the new owners are not about to shaft us, realistically there are few people in the UK who have the necessary funds. Consult the Times rich list and select one whom you would prefer!

SJM - or Mr Ego as the clever ones here have called him- is a very far from stupid man. Hands up who here could have achieved a tenth of what he has, given the same background and circumstances? Or any others come to that.

He is justifiably proud of his achievements. Is it ego that made him name the stadium after himself? If it is, so what? He is synonymous with Reading. Everyone has heard of Madejeski and Reading because of him. How many football club chairmen can say that? In all honesty how many club chairmen (especially lower league) can you name? Yet everyone knows Reading = Madejeski. Pundits have even learned how to pronounce it.

Do you really think that he wants that reputation ruined? I cannot conceive that he would be naive or stupid enough not to have fully investigated the background and intent of his new partners. So much so that he is staying around to continue to give his experience and guidance. Samuelson may be an expert financier and business man, Madejeski is also an expert and very successful football club chairman, and I couldn't be more delighted we are not going to lose him.

If you consider Madejeski the man, not the money machine, he is into his 70's and must be IHT planning. Would you prefer that he made a planned, staged, considered handover to a suitable, solvent successor. Imagine where we would be if he had a sudden heart attack and his shares were handed to.....

I trust SJM that he has done the seemingly impossible- found a perfect successor in his own mould. Someone with the vision to see what Reading could be, and that with sensible prudent and timely investment management, a very good return can be made, while the fans are in for exciting times.

#partyinglikeits1991

[Uke]

Successful, but not successful enough to get promoted to the Prem? Tough criteria, Uke!

It's hard to think of any foreign owned clubs with "rich owners" doing well and surviving outside the Prem though

Care to name any?

The new Messiahs have to perform some long lasting miracles before I believe in them with the blind faith some people have on here based on a press conference of platitudes

Would you prefer a nice British owner.... Mike Ashley, Simon Jordan- hell, why not Simon Cowell?

Whilst I share everyones concern that the new owners are not about to shaft us, realistically there are few people in the UK who have the necessary funds. Consult the Times rich list and select one whom you would prefer!

SJM - or Mr Ego as the clever ones here have called him- is a very far from stupid man. Hands up who here could have achieved a tenth of what he has, given the same background and circumstances? Or any others come to that.

He is justifiably proud of his achievements. Is it ego that made him name the stadium after himself? If it is, so what? He is synonymous with Reading. Everyone has heard of Madejeski and Reading because of him. How many football club chairmen can say that? In all honesty how many club chairmen (especially lower league) can you name? Yet everyone knows Reading = Madejeski. Pundits have even learned how to pronounce it.

Do you really think that he wants that reputation ruined? I cannot conceive that he would be naive or stupid enough not to have fully investigated the background and intent of his new partners. So much so that he is staying around to continue to give his experience and guidance. Samuelson may be an expert financier and business man, Madejeski is also an expert and very successful football club chairman, and I couldn't be more delighted we are not going to lose him.

If you consider Madejeski the man, not the money machine, he is into his 70's and must be IHT planning. Would you prefer that he made a planned, staged, considered handover to a suitable, solvent successor. Imagine where we would be if he had a sudden heart attack and his shares were handed to.....

I trust SJM that he has done the seemingly impossible- found a perfect successor in his own mould. Someone with the vision to see what Reading could be, and that with sensible prudent and timely investment management, a very good return can be made, while the fans are in for exciting times.

#partyinglikeits1991

I don't disagree with you though, this could well be good for the club

Rich benefactors (whatever nationality) don't seem to work these days. In fact SJM is perhaps one of the few that did

The new group is not like SJM - they are a faceless consortium (TSI) which can go broke just like any other limited Company - we only know two people who work for this "group".

It is better he sold now and managed the transition, but as Baines also pointed out about 50 pages back, he may have been under pressure to sell from his interests outside the club.

I'm just more concerned about the greeting of the new Messiah. I'm happy to welcome him, but won't hail him as such yet.

He may just be a very naughty boy, given the track records of other Messiahs

[exileinleeds]

I don't disagree with you though, this could well be good for the club

Rich benefactors (whatever nationality) don't seem to work these days. In fact SJM is perhaps one of the few that did

The new group is not like SJM - they are a faceless consortium (TSI) which can go broke just like any other limited Company - we only know two people who work for this "group".

It is better he sold now and managed the transition, but as Baines also pointed out about 50 pages back, he may have been under pressure to sell from his interests outside the club.

I'm just more concerned about the greeting of the new Messiah. I'm happy to welcome him, but won't hail him as such yet.

He may just be a very naughty boy, given the track records of other Messiahs

TSI may be a "faceless consortium" to us, but I am guessing they are not to SJM.
It was suggested early that a DM scoop prompted the outing of this deal ahead of their intended release date- that is plausable. It is unlike SJM to conduct business in public, however it is great to know of the HoA. It also apparently has convinced JK to commit- and who knows who else it might be being dangled in front of....
For those unaware of the term, it is a statement of agreement of the deal they want. It will contain details of funds, responsibilities, expectations- and evidence based. I cannot imagine SJM signing on a promise that funds will appear.
He will also be around (as will everyone else) to oversee what happens. He is not known for taking excessive risks, and I can see no way he would be talking to people who think it a good idea to mortgage/sell the ground to have a pop at CL football. Nor can I see Nicky Hammond suddenly spending £5m on an unknown son of a arms dealer, who never seems to make the bench.

For the record, many on here seem to confuse "Due Diligence" with some sort of "fit and proper" test. It isn't. Due Diligence is a task undertaken by lawyers and accountants that is essentially going through all the books and contracts and ensuring that things are as they have been presented.
SJM will have valued the club based on the assets and liabilities- an army of pen pushers will be checking that these are accurate, making sure they are aware of add-on clauses, on-going payments due on previous transfers....that the photocopiers are owned and not leased. Both sides will be making sure that there are no nasty surprises.

[Vision]

TSI may be a "faceless consortium" to us, but I am guessing they are not to SJM.
It was suggested early that a DM scoop prompted the outing of this deal ahead of their intended release date- that is plausable. It is unlike SJM to conduct business in public, however it is great to know of the HoA. It also apparently has convinced JK to commit- and who knows who else it might be being dangled in front of....
For those unaware of the term, it is a statement of agreement of the deal they want. It will contain details of funds, responsibilities, expectations- and evidence based. I cannot imagine SJM signing on a promise that funds will appear.
He will also be around (as will everyone else) to oversee what happens. He is not known for taking excessive risks, and I can see no way he would be talking to people who think it a good idea to mortgage/sell the ground to have a pop at CL football. Nor can I see Nicky Hammond suddenly spending £5m on an unknown son of a arms dealer, who never seems to make the bench.

For the record, many on here seem to confuse "Due Diligence" with some sort of "fit and proper" test. It isn't. Due Diligence is a task undertaken by lawyers and accountants that is essentially going through all the books and contracts and ensuring that things are as they have been presented.
SJM will have valued the club based on the assets and liabilities- an army of pen pushers will be checking that these are accurate, making sure they are aware of add-on clauses, on-going payments due on previous transfers....that the photocopiers are owned and not leased. Both sides will be making sure that there are no nasty surprises.

<<Pedant mode on>>
SJM was born in Stoke and named John HUrst. He changed his name. He is as Polish as my left gonad.
<<Pedant mode off>>

did your left gonad have a polish father?

Stepfather would be more pertinent which I guess is the point TB is making.

[Yorkshire Royal]

With Maccy D being given "the exact transfer budget" he asked for, but "not being allowed to break the wage structure", will he do the thing you used to be able to do on Champ Man, and offer massive signing on bonuses to make up for a short fall in wages?

That's how Stoke keep their wage structure in place.

[Bandini]

With Maccy D being given "the exact transfer budget" he asked for, but "not being allowed to break the wage structure", will he do the thing you used to be able to do on Champ Man, and offer massive signing on bonuses to make up for a short fall in wages?

That's how Stoke keep their wage structure in place.

Do they pay it all upfront, or is some held back as a loyalty bonus?

[Maguire]

My opinion of Dirks post on Tilehurst end, talk about rewriting history?

Madejski financed this club with a mixture of wages and infrastructure and purchasing power to get us promoted. And this is exactly how these guys claim they are intending to finance the club. When they say they won't break the wage structure and the ethos will remain the same, whilst investing in the academy stadium etc that is exactly what they mean.

And this is exactly what John Madejski did, but for a much smaller club that grew under his tenure.

I think you're right about re-writing history but in another way as well.

In the championship perhaps we've gone about in a more prudent manner but in the 3rd tier we paid way above what would be considered prudent in order to get into the Championship. It was a calculated risk but it was not far off the same gamble as we criticise others for doing and indeed the sort of thing people seem worried about us doing now.

Not saying they're not right to voice some concerns but it's a bit hypocritical and smacks of selective memory too when it comes to Madejski's MO under Burns and Pardew in the 3rd tier.

I was boring the missus yday with exactly this - spunking half a million on Sean Evers doesn't represent any kind of prudence.

Personally I always felt the prudence thing was born as much out of Madejski's coffers emptying over time as much as any real business ideals.

[Ian Royal]

^ a calculated gamble, but with lower stakes.

Indeed but equally with higher rewards now though.

But one that was more necessary to make given the massive investment we'd made in a stadium that was then half empty and we needed to get significantly fuller to pay for. So the consequences of not doing it were fairly hefty.

And I'd argue we learnt a fairly good lesson in doing it as well given how much money we spent on utter dross under Burns. Pardew had to really earn the ability to spend decent money. How much did Pardew spend before getting us promoted? I'd hazard a guess it wasn't nearly as much as Burns did.