Confimred new owners of Raeding Footbal Club

8685 posts
User avatar
Ian Royal
Hob Nob Legend
Posts: 35156
Joined: 15 Apr 2004 13:43
Location: Playing spot the pc*nt on HNA?

Re: Buyout

by Ian Royal » 11 Mar 2014 22:14

RoyalBlue
SPARTA
ZacNaloen Hang on, the only rumour I've heard is that we will struggle to pay wages next year.

Which can be sorted by clearing out any contracts expiring and offering up anyone on big money for next to nothing incoming.


There were rumours before xmas that we may be in trouble come February as we couldn't afford the wages. Then the transfer window came and went and although we didn't spend (and Sharp and Baird came off the wage bill), we didn't sell either. But that same rumour appears to have resurfaced today regarding getting to the end of the season. I don't think anyone is any the wiser about what state we're in. All we are sure about is SJM being extremely keen to sell.


So despite once again investing relatively little when we got to the PL, we have already managed to blow the money we made from getting there and are currently spending more than the parachute money? :shock: If true, then Madejski really is god the way he manages to create black holes! And this whilst the club remained under his stewardship as Chairman i.e. if he didn't like the way it was being run he could have resigned as Chairman to make that very point.

We had a wage budget of over £40m. That is not investing relatively little. Wages are far more important than transfer fees in accounting for spending.

User avatar
Uke
Hob Nob Legend
Posts: 23212
Joined: 17 Apr 2004 16:24
Location: Слава Україні! Героям слава! @UkeRFC

Re: Buyout

by Uke » 11 Mar 2014 22:39

Ian Royal
Uke I confused the Vibrac loan, which is against the future revenues (mainly para payments) with against receipts

Before it becomes an internet "fact" we can knock it on the head.

My very bad

So hang on, you get something confused on here this month and then Sparta goes on about rumours at Xmas we couldn't afford the wages, which has only come up because you got confused?

Smelling a little of fields here.


2-0's comment about non payment of salaries came before my "senior moment". It wasn't Sparta

However, there may be a possibility Vibrac loan may not have been enough especially if AZ is defaulting on further payments which may have been factored in when calculating the amount needed for the loan.

This is speculation based on

2-0's then Sparta's can't pay the wages
The Vibrac loan
TSI 's record
Last edited by Uke on 12 Mar 2014 00:33, edited 1 time in total.

User avatar
SPARTA
Hob Nob Regular
Posts: 4742
Joined: 23 Sep 2012 17:40
Location: If you give us 90 minutes, we'll give you a lifetime

Re: Buyout

by SPARTA » 11 Mar 2014 23:02

Just for the record, "Sparta's can't pay the wages" was me bringing up old posts/rumours that were posted by others pre xmas, about the club being in trouble behind the scenes and maybe not being able to pay the wage bill come Jan/Feb. I believe this started with the flyonthewall account on Twitter which got slated, but his tweets regarding other matters did later earn him some credibility. He posts on here infrequently but I can't recall as who. HSSC also backs those rumours up, and he isn't the type to go attention seeking.

User avatar
Harpers So Solid Crew
Hob Nob Addict
Posts: 5273
Joined: 06 Jul 2004 08:39
Location: enjoying the money

Re: Buyout

by Harpers So Solid Crew » 12 Mar 2014 08:14

Total monthly wages are over 2 mill. Therefore the next three months requires over 6 mill. Income now is at its lowest point of the financial year, we know that we borrowed against the parachute payments with interest. We have to assume the only has already been spent. So about the only way seems to be to borrow against next seasons parachute payment, which would mean further cuts in money to spend on the team.

User avatar
Uke
Hob Nob Legend
Posts: 23212
Joined: 17 Apr 2004 16:24
Location: Слава Україні! Героям слава! @UkeRFC

Re: Buyout

by Uke » 12 Mar 2014 08:34

That 3 million for Alfie and another couple for McCarthy we "turned down" :|

Probably based on a continued revenue stream from our friends in Gibraltar

If we can show he is linked to the Crimea situation and freeze his assets can the club get access?


User avatar
Vision
Hob Nob Addict
Posts: 5135
Joined: 15 Apr 2004 20:53

Re: Buyout

by Vision » 12 Mar 2014 09:19

RoyalBlue
SPARTA
ZacNaloen Hang on, the only rumour I've heard is that we will struggle to pay wages next year.

Which can be sorted by clearing out any contracts expiring and offering up anyone on big money for next to nothing incoming.


There were rumours before xmas that we may be in trouble come February as we couldn't afford the wages. Then the transfer window came and went and although we didn't spend (and Sharp and Baird came off the wage bill), we didn't sell either. But that same rumour appears to have resurfaced today regarding getting to the end of the season. I don't think anyone is any the wiser about what state we're in. All we are sure about is SJM being extremely keen to sell.


So despite once again investing relatively little when we got to the PL, we have already managed to blow the money we made from getting there and are currently spending more than the parachute money? :shock: If true, then Madejski really is god the way he manages to create black holes! And this whilst the club remained under his stewardship as Chairman i.e. if he didn't like the way it was being run he could have resigned as Chairman to make that very point.


Again with this? The wage bill last season was £46m. That's over 30% more than the last time we were in the top flight and it's a result of your poster boy Anton replacing that bloke who has been holding us back for the last 20 years apparently.

If we didn't invest that money wisely enough then we have to look at a combination of McDermott, Anton and Hammond as to why but for some bizarre reason you seem to want to point the finger at someone who no longer controlled the purse strings and took no active part in player selection/recruitment.

What we're faced with now is the inevitable consequence of relegation from the top flight and not bouncing straight back (if indeed we dont). Much the same as the last time we were in this position and indeed what all other clubs face in the same situation. The difference now is that because Anton seemed to share the same naivity when it comes to Premiership finances that some on here do, he thought he was sitting on a potential goldmine when in fact it was more likely to be a landmine, then the actions needed to redress the balance will be fairly drastic short term.

On the plus side the continued "investment" year after year in the Academy means we do appear to be producing players of Championship ability to progress to the first team which with the advent of FFP is vital.

JM is by no means perfect. he talks an awful lot of shit and is a bit of an eccentric who needs his ego stroking from time to time. Equally not everything about TSI has been a failure and the title win, another premiership season, some high profile signings and Cat A Academy status were unlikely to have all happened under JM. I'd much rather JM wasn't in charge because then it would mean the Anton/TSI experiment had worked.

The reality is though that it was a nice ride for 18 months or so but ultimately the guy at the helm was just too naive to understand how much the ride costs to maintain. In which case I'm glad that JM didn't take your advice and quit because it's better to have him see us through the potential tough financial situation than those chairman/owners who continually bury their heads in the sand. (insert your own basketcase owner/club here)

User avatar
melonhead
Hob Nob Super-Addict
Posts: 14230
Joined: 30 Jul 2010 15:36
Location: on a thorn

Re: Buyout

by melonhead » 12 Mar 2014 10:13

^^^

User avatar
Extended-Phenotype
Hob Nob Addict
Posts: 5907
Joined: 27 May 2011 10:43
Location: Oxford Road

Re: Buyout

by Extended-Phenotype » 12 Mar 2014 10:20

Only Reading FC could land themselves in financial burnout following close to no activity in the transfer market. The wage bill agrument is supposed to placate fans?

:lol:

Royalwaster
Hob Nob Regular
Posts: 3637
Joined: 13 Jul 2004 13:32

Re: Buyout

by Royalwaster » 12 Mar 2014 10:40

Extended-Phenotype Only Reading FC could land themselves in financial burnout following close to no activity in the transfer market. The wage bill agrument is supposed to placate fans?

:lol:


Read the oxf*rd post above before posting this shit. Other teams spend tons on wages and transfer and consequently are heavily in debt to their owners .... we don't have owners to be in debt to.


User avatar
Extended-Phenotype
Hob Nob Addict
Posts: 5907
Joined: 27 May 2011 10:43
Location: Oxford Road

Re: Buyout

by Extended-Phenotype » 12 Mar 2014 10:44

Loosen up, fella.

I'm just lolling at the fact we are probably the first team to covet an administration rumour that hasn't signed players that people have heard of.

User avatar
melonhead
Hob Nob Super-Addict
Posts: 14230
Joined: 30 Jul 2010 15:36
Location: on a thorn

Re: Buyout

by melonhead » 12 Mar 2014 10:56

Extended-Phenotype Only Reading FC could land themselves in financial burnout following close to no activity in the transfer market.

:lol:


:|

User avatar
Extended-Phenotype
Hob Nob Addict
Posts: 5907
Joined: 27 May 2011 10:43
Location: Oxford Road

Re: Buyout

by Extended-Phenotype » 12 Mar 2014 11:05

melonhead
Extended-Phenotype Only Reading FC could land themselves in financial burnout following close to no activity in the transfer market.

:lol:


:|


Always a pleasure to wipe a smile off your face but in this instance, how exactly is that wide of the mark? We spent the least of any football club in the last three windows, sold some of our first team and next minute we are joining QPR in meltdown?!

It's mentalness. :lol:

Cypry
Member
Posts: 995
Joined: 17 Sep 2009 13:32

Re: Buyout

by Cypry » 12 Mar 2014 12:01

Extended-Phenotype
melonhead
Extended-Phenotype Only Reading FC could land themselves in financial burnout following close to no activity in the transfer market.

:lol:


:|


Always a pleasure to wipe a smile off your face but in this instance, how exactly is that wide of the mark? We spent the least of any football club in the last three windows, sold some of our first team and next minute we are joining QPR in meltdown?!

It's mentalness. :lol:


Just a result of failing to stay up.....

Wages in 2013 were circa £46M - TV money amounted to just shy of £44M with matchday and other income totalling just over £15M (£9M of which was matchday income).
Assuming that the matchday income drops to around the 2012 level (£5M, which based on attendances this year vs last year probably looks about right) we can expect our total income this year to be about £29.5M (£18M parachute payments plus £10M from other sources and £1.5M net profit on transfer dealings).

If we're going to break even we'd have needed to slash the wage bill by at least half, and there's no way that has happened, so it really doesn't take a brain surgeon to work out why we're potentially looking at a big loss - with no money coming from the owner it could leave us with a significant debt.

If we don't get the ownership sorted then I expect to see a significant number of players (high earners) on their way this Summer, then it'll be rebuild time, probably with a significant number of the youngsters coming through (not necessarily a bad thing IMO)...


User avatar
Extended-Phenotype
Hob Nob Addict
Posts: 5907
Joined: 27 May 2011 10:43
Location: Oxford Road

Re: Buyout

by Extended-Phenotype » 12 Mar 2014 12:24

Yeah, mate - that is what I am saying. Hope Akpan and Nick Blackman hardly make Reading the World All-Stars and yet somehow we are supposed to believe the club is on it's knees due to wages.

Plus, your maths seems way out to me. 30 isn't half of 46 for starters, ticket prices are higher than 2012, attendance is higher than 2012, 'other revenue' will certainly be higher than 10m, I think the 60m parachute payments are weighted towards the first relegated season, many players wages will have been reduced due to relegation and we let a hell of a lot of players go, too?

So I still find it amusing to hear riffs about going bankrupt when we buy all our clothes from thrift stores and grow our own veg.

User avatar
Hoop Blah
Hob Nob Super-Addict
Posts: 13937
Joined: 14 Apr 2004 09:00
Location: I told you so.....

Re: Buyout

by Hoop Blah » 12 Mar 2014 12:31

Extended-Phenotype Loosen up, fella.

I'm just lolling at the fact we are probably the first team to covet an administration rumour that hasn't signed players that people have heard of.


Players that people have heard of?

Roberts, Guthrie, Pogrebnyak, Bridge, Drenthe, even McLeary, Mariappa, Kelly and Gunter are reasonably well known.

There are a lot of rumours being talked about here that don't seem to have much weight behind them. As much as there's probably no smoke without fire, I'm guessing the situation isn't half as bad as the chinese wispers some are hearing would suggest.

User avatar
Extended-Phenotype
Hob Nob Addict
Posts: 5907
Joined: 27 May 2011 10:43
Location: Oxford Road

Re: Buyout

by Extended-Phenotype » 12 Mar 2014 12:42

Hoop Blah
Extended-Phenotype Loosen up, fella.

I'm just lolling at the fact we are probably the first team to covet an administration rumour that hasn't signed players that people have heard of.


Players that people have heard of?

Roberts, Guthrie, Pogrebnyak, Bridge, Drenthe, even McLeary, Mariappa, Kelly and Gunter are reasonably well known.

There are a lot of rumours being talked about here that don't seem to have much weight behind them. As much as there's probably no smoke without fire, I'm guessing the situation isn't half as bad as the chinese wispers some are hearing would suggest.


Let's not be too aspergers about this and take everything quite so literally. Our transfer activity has been weak in comparison to other teams. Our team is full of players whose quality everybody is winging about. Either we are retardedly paying high wages for the most unnotworthy players on the market, 'fan maths' is way off, or the financial burnout rumours are bullshit.

The first, the notion that "Reading FC go bust after massive Akpan payout" makes me chortle.

User avatar
Vision
Hob Nob Addict
Posts: 5135
Joined: 15 Apr 2004 20:53

Re: Buyout

by Vision » 12 Mar 2014 13:11

I've said on many occasions that as fans we don't give a shit about finaces we just want to see the best 11 players possible on the pitch. Thankfully its someone else's job to worry about that. Doesn't mean it's not a reality though.

From the accounts thread

Elm Park I see that the latest financial accounts have been filed for last year and we made a loss of only £2.3m

The main figures I have seen are:

Turnover £59.2m (up from £14.7m)
Wages £46.1m (up from £26.5m)
Loss £ 2.3m ( down from £11.7m)



Last time we got relegated the wage bill was around the £33-35m mark.

More surprisingly to me was the previous year's £26.5m wage bill which is to my rather dodgy memory double what the 106 team's was.

So effectively in two seasons we lost 14m despite a successful promotion campaign and a year of Premiership money.

No wonder Anton shit himself.

For the record we signed 12 players in the Premiership season which is hardly "close to no transfer activity" and most were far from Hope Akpan or Pierce Sweeney punts.

The argument isn't about whether we invested ( a loss of 14m in two of our most lucrative seasons suggests we absolutelky did). The question is whether we invested correctly which given relegation and a wage bill 30% bigger than we've ever had certainly says we didn't.

My point in raising all this though was in reply to RB laying the blame for all this at JM's door when he's had nothing to do with player recruitment.

We're not going to go bust because I'm convinced we will take the measures needed to even things out. I'll stress it again we're not in a unique situation as it's something that all clubs in our situation face. Difference is some of them bury their heads in the sand which is when the real problems start. In theory the advent of FFP means that ignoring the situation shouldn't be an option for any club although I await to see what actual impact it will have.

User avatar
maffff
Hob Nob Addict
Posts: 5459
Joined: 25 Nov 2010 09:22

Re: Buyout

by maffff » 12 Mar 2014 13:17

Hoop Blah the situation isn't half as bad as the chinese wispers some are hearing would suggest.



User avatar
melonhead
Hob Nob Super-Addict
Posts: 14230
Joined: 30 Jul 2010 15:36
Location: on a thorn

Re: Buyout

by melonhead » 12 Mar 2014 14:49

Extended-Phenotype
melonhead
Extended-Phenotype Only Reading FC could land themselves in financial burnout following close to no activity in the transfer market.

:lol:


:|


Always a pleasure to wipe a smile off your face but in this instance, how exactly is that wide of the mark? We spent the least of any football club in the last three windows, sold some of our first team and next minute we are joining QPR in meltdown?!

It's mentalness. :lol:


what youve written there, and what we did in the transfer market is not the same as close to no activity in the transfer market.
apart from this last one, for well publicised reasons

User avatar
Extended-Phenotype
Hob Nob Addict
Posts: 5907
Joined: 27 May 2011 10:43
Location: Oxford Road

Re: Buyout

by Extended-Phenotype » 12 Mar 2014 15:30

Ignoring my hyperbole It is kinda universally accepted that Reading underspent going up, during the prem season and the summer following.

Not sure if there is much contrary to that in previous years either.

8685 posts

Who is online

Users browsing this forum: Richard, RoyalBlue, skipper and 274 guests

It is currently 04 Dec 2024 21:50