Madejski Sold out and failed again

[Royal Biscuitman]

You (pathetic latest generation of Reading Fans) really are so naive, like the Brighton Fans say so gullible believing Madejski is ever going to do anything to take this club forward.

Do you really think anyone else out there is interested in putting up the money to buy the club and take us forward?.... don't forget, Anton owns the controlling interest in the club so why don't you target him.

[melonhead]

Isn't/wasn't Bill Kenwright a good mate of Madejski's? If so, I presume that either Madejski didn't speak to him (strange) or did and decided to ignore his input on the basis that he knew better (stupid).

Or you could equally presume Kenwright told him to be careful and not sell 100% until he was sure the money was there?

Or balancing the level of his desperation for cash versus the risks of TSI he decided to only sell 51% with an "I'm back in contro"l clause should there be a default?

Either assumption is based on as much fact as your presumptions

If the reason BZ opted out of Everton that I was given by someone ITK then Bill Kenwright would not have warned SJM off.

help me out here.
what is your sentence actually saying?

[philM]

Isn't/wasn't Bill Kenwright a good mate of Madejski's? If so, I presume that either Madejski didn't speak to him (strange) or did and decided to ignore his input on the basis that he knew better (stupid).

Or you could equally presume Kenwright told him to be careful and not sell 100% until he was sure the money was there?

Or balancing the level of his desperation for cash versus the risks of TSI he decided to only sell 51% with an "I'm back in contro"l clause should there be a default?

Either assumption is based on as much fact as your presumptions

If the reason BZ opted out of Everton that I was given by someone ITK then Bill Kenwright would not have warned SJM off.

Correct. As was detailed in a later trial the reason it didn't go through was not any fault of BZ. It was down to internal politics.

The people here claiming the money wasn't there are making it up.

[Uke]

You (pathetic latest generation of Reading Fans) really are so naive, like the Brighton Fans say so gullible believing Madejski is ever going to do anything to take this club forward.

Do you really think anyone else out there is interested in putting up the money to buy the club and take us forward?.... don't forget, Anton owns the controlling interest in the club so why don't you target him.

He's not here so they target the one who is...

Also don't forget Samuelson and Obolensky - the other parts of the TSI Trio

[Royal Biscuitman]

I think JM needed the money, not just the £24m but all his loans to RFC paid up, which TSI appear to have done as the club now owes money to them.

He had one great business idea (not an original one), made £240m selling Autotrader and has presumably had a few losses recently.... maybe he didn't need the money but panicked.

[philM]

As I said a while ago..

Re: TSI - Reading - Everton Link???
by philM » 17 May 2012 13:21
The widely accepted story is that after leading the media and the fans on a merry dance for months, it eventually emerged that the whole thing had been a mechanism for forcing Paul Gregg out of Everton; Fortress Sports Fund existed and had the money, but the Board had no intention of selling up.

If you want more info, this is some evidence given to an public enquiry involving an Everton planning application...

------------------------------------------------------------------------------
Subsequently problems emanating in the boardroom of Everton FC came to the fore most dramatically in the summer of 2004 when the newly appointed CEO Trevor Birch mysteriously left the club after just 6 weeks14 whilst the relationship between the Directors appeared to have become strained. This led to attempts by Paul Gregg in July 200415 to seize control of the club by offering to buy out Mr Kenwright’s and Mr Woods’ shareholding for a reported £15m with the offer to invest a further £15m through a rights issue16. Mr Kenwright and Mr Woods declined the offer stating that they wanted to know who was behind the offer and wanted to see proof of funding17. A PR war subsequently ensued with Mr Kenwright initially claiming to have found investment through Anton Zingrevich18 then miraculously through the Fortress Sports Fund investment proposals. These proposals appeared within a few weeks of Mr Gregg going public in his attempts to buy the club and this despite years of Mr Kenwright previously claiming to have been unsuccessfully searching ‘24/7’ for investment. Sadly, the issue with the Fortress Sports Fund was allowed to drag on and on until eventually most observers had began to realise that the Fortress Sports Funds proposals was just a tactic to prevent Paul Gregg from seizing control of the club. To date, I do not recall any official explanation as to why the proposals failed to materialise.
------------------------------------------------------------------------------

In summary, Samuelson was used. Kenwright stalled. Incidentally, Gregg's offer was conditional on Kenwright relinquishing control.

If you want to explore it any deeper then the "Public Inquiry into application for: mixed-usedevelopment including a new football stadium, retail,residential and leisure uses on land in KirkbyProof of Evidence of KEIOC CampaignMark Grayson – Everton Football Club Shareholder" is a good starting point.

[melonhead]

I think JM needed the money, not just the £24m but all his loans to RFC paid up, which TSI appear to have done as the club now owes money to them.

He had one great business idea (not an original one), made £240m selling Autotrader and has presumably had a few losses recently.... maybe he didn't need the money but panicked.

"need"


while a man who has 100 million quid doesnt really "need" money any more
he certainly doesnt want to be losing 5-10 million pound a year out of it

[loyalroyaldaz]

Im told that the money for the 51% wasnt paid up by AZ either.
Has anyone actually seen otherwise?
I will not name my source but i can say that it came origionally from somebody who works for the Club in the financial side of things.
I was also told that AZ had it away with the Parachute money which
is why we have fcuk all !

[melonhead]

[Vic_Flange]

I think JM needed the money, not just the £24m but all his loans to RFC paid up, which TSI appear to have done as the club now owes money to them.

He had one great business idea (not an original one), made £240m selling Autotrader and has presumably had a few losses recently.... maybe he didn't need the money but panicked.

"need"


while a man who has 100 million quid doesnt really "need" money any more
he certainly doesnt want to be losing 5-10 million pound a year out of it

Spot on Mate.

Doesnt matter that your lower cost Premiership Player will still cost £2 Million - £5 Million, SJM can still throw it out the window at fans that say "Oi, SJM, youre a complete oxf*rd so give us your money'

[melonhead]

all of that booing, and wheres all the money goneing, from the hard of thinking must have really hurt SJM after everything he's done
no wonder he sold to the first bloke who turned up after that

[Hoop Blah]

I don't think Madejski's £100m is just sitting around in a current account waiting for him to spend it on something.

Being worth that kind of money doesn't mean you have the liquidity to spunk £Xm a year on a football club.

[melonhead]

I don't think Madejski's £100m is just sitting around in a current account waiting for him to spend it on something.

Being worth that kind of money doesn't mean you have the liquidity to spunk £Xm a year on a football club.

especially when its losing 5-10 million a year
and probably more than that this year


how much of his money is liquid?
20%?

no wonder he's shitting himself

[multisync1830]

Im told that the money for the 51% wasnt paid up by AZ either.
Has anyone actually seen otherwise?
I will not name my source but i can say that it came origionally from somebody who works for the Club in the financial side of things.
I was also told that AZ had it away with the Parachute money which
is why we have fcuk all !

My understanding is that AZ is of the belief that he has paid 20m (14+6) as of October last year. This would not show up in the club's account I assume as it's done at holding company level?

as regards the parachute - I do not know.

[Terminal Boardom]

JM's biggest problem is his mouth. Stick a microphone and, preferably, a tv camera in front of him and he creams himself. Many people have said that Thatcher was the greatest PM that this country has seen. But even she had a sell by date. JM's sell by date is long past and the sooner he oxf*rd off and hands over to younger, fresher blood the better.

[Hoop Blah]

JM's biggest problem is his mouth. Stick a microphone and, preferably, a tv camera in front of him and he creams himself. Many people have said that Thatcher was the greatest PM that this country has seen. But even she had a sell by date. JM's sell by date is long past and the sooner he oxf*rd off and hands over to younger, fresher blood the better.

Like a football mad son of a Russian billionaire. Good idea. Know of one?

[RoyalBlue]

Im told that the money for the 51% wasnt paid up by AZ either.
Has anyone actually seen otherwise?
I will not name my source but i can say that it came origionally from somebody who works for the Club in the financial side of things.
I was also told that AZ had it away with the Parachute money which
is why we have fcuk all !

If that is true, then Madejski and his advisors f*cked up the sale agreement even more than we had previously thought! Failed to pay his money for the 51% but still has legal ownership of the shares?! If true, then Madejski really ought to retire from business before he manages to lose the rest of his assets!

[melonhead]

yeah. its not true

[kwik-silva]

Im told that the money for the 51% wasnt paid up by AZ either.
Has anyone actually seen otherwise?
I will not name my source but i can say that it came origionally from somebody who works for the Club in the financial side of things.
I was also told that AZ had it away with the Parachute money which
is why we have fcuk all !

If that is true, then Madejski and his advisors f*cked up the sale agreement even more than we had previously thought! Failed to pay his money for the 51% but still has legal ownership of the shares?! If true, then Madejski really ought to retire from business before he manages to lose the rest of his assets!

If. If. If.

[MouldyRoyal]

It's standard HNA? procedure to be honest. State something that is either a) nothing but hearsay, or b) an ill thought out opinion pressented as fact and then crucify the club for this. Bonus points if the poster then asks why the club haven't commented on the position.