Madejski Sold out and failed again

[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!

If. If. If.

True on the 'Anton hasn't been paid' bit. But there is no 'if' when it comes to cocking up the sale. That is a fact that even the biggest Madjeski fan would struggle to dispute. I would laugh if it wasn't for the fact that the supporters are now also paying the price for that mistake.

[Platypuss]

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

Yes. Of course it is.

What a maroon.

[sandman]

During the war.

[Uke]

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!

They're his assets and ultimately he can do what he wants with them

AZ and his gang were con men, the thing about con men is in the name....

[Lower West]

Madejski is a c**t.

Go and support another team if thats how you feel.........

[Lower West]

Reading RTG fans living in the past again I see? There's a surprise.

Madejski has been ruining this club since 2006.

Murdoch and the. Prem have been ruining clubs for much longer

It's impossible for a club outside the big 5 to survive thanks to them.

Even Manure are now struggling to compete with the wall of money that the top 2 spenders have at their disposal.

[West Stand Flash]

Madejski is a c**t.

Go and support another team if thats how you feel.........

Why would I support another team just because I dislike that egotistical w@nker?
If you lot did that because you dislike Drenthe or Pog, Reading would have about 14 fans. Idiot.

[paddy20]

Mr Mad had one fantastic idea and made a shed load of money. Since then his business choices has been questionable resulting in a sharp drop in his wealth. He has however been very loyal to Reading and I couldn't see him wanting to end his relationship with the club and the town on a sour note. I think we will end up selling cheaply as I don't think he is in a position to pick and choose anymore. What happens then is in the lap of the gods. As much as we all get annoyed at what is happening any true supporter will carry on following the team. Its very difficult to change allegiances.

[BadgerFoot]

I read this forum on a regular basis but I don't recall posting anything before. I only manage to attend a handful of games each season and find the information here that fans take time to post very useful.

I'm sat in a hospital waiting room and been forced to register for the wifi, reset my forum password and get to grips with phone typing as im almost apoplectic over the utter nonsense being spouted.

SJM is a true legend of our club.

Rant over, being called by a nurse.

[strap]

Mr Mad had one fantastic idea and made a shed load of money. Since then his business choices has been questionable resulting in a sharp drop in his wealth. He has however been very loyal to Reading and I couldn't see him wanting to end his relationship with the club and the town on a sour note. I think we will end up selling cheaply as I don't think he is in a position to pick and choose anymore. What happens then is in the lap of the gods. As much as we all get annoyed at what is happening any true supporter will carry on following the team. Its very difficult to change allegiances.

Surely the final accepted price is not down to SJM? If AZ holds 51%, (which I find hard to accept given SJM is now "back in day to day control"), then SJM can negotiate with as many interested parties as he likes. Any offer will have to be put to AZ and he can hold out for whatever he wants. Presumably he will want to recoup all his, (daddy's), original investment plus all the money he has put into the club, plus presumably a nice profit?

Unless SJM has been given a steer that AZ will accept noting less than a figure of x per share, and has told SJM to go out and get this minimum figure?

Going to be a long old summer with a good deal of frustration for all true RFC fans I fear.

[72 bus]

Surely the final accepted price is not down to SJM? If AZ holds 51%, (which I find hard to accept given SJM is now "back in day to day control")

Why do you find it hard to accept that the Zingarvich family owns 51% but that SJM is in day to day control ?
It is pretty simple, none of the Zingravich family are in the UK or have any idea of how to run a football club, hence SJM has been asked to continue to oversee day to day running.
Antons Dad could well have asked Samuelson to take charge but probably felt that someone with over 20 years experiance of running a football club may just be a better bet.

oxf*rd me Mate, it's not hard to work out.

[SpaceCruiser]

Surely the final accepted price is not down to SJM? If AZ holds 51%, (which I find hard to accept given SJM is now "back in day to day control")

Why do you find it hard to accept that the Zingarvich family owns 51% but that SJM is in day to day control ?
It is pretty simple, none of the Zingravich family are in the UK or have any idea of how to run a football club, hence SJM has been asked to continue to oversee day to day running.
Antons Dad could well have asked Samuelson to take charge but probably felt that someone with over 20 years experiance of running a football club may just be a better bet.

oxf*rd me Mate, it's not hard to work out.

I agree with that sentiment, but there are some people on here who are hard of thinking.

[strap]

Surely the final accepted price is not down to SJM? If AZ holds 51%, (which I find hard to accept given SJM is now "back in day to day control")

Why do you find it hard to accept that the Zingarvich family owns 51% but that SJM is in day to day control ?
It is pretty simple, none of the Zingravich family are in the UK or have any idea of how to run a football club, hence SJM has been asked to continue to oversee day to day running.
Antons Dad could well have asked Samuelson to take charge but probably felt that someone with over 20 years experiance of running a football club may just be a better bet.

oxf*rd me Mate, it's not hard to work out.

Apologies, but if a party owns 51% of an entity, it is generally considered that that party is "in control". Are you seriously suggesting that JM can negotiate a deal to sell the club for whatever he chooses, and then simply tells AZ that it's a done deal?

I dare say a whole host of Private Equity companies/Hedge Funds would just LOVE that to be the case in the real world, but I'm pretty sure it's not.

Maybe AZ has sold 2% back to SJM, hence the reason SJM is the one trying to find a buyer.
Maybe the share voting structure has been altered so that SJM DOES have the final say but AZ still owns 51% by value.
Maybe AZ has told SJM to find a buyer at a minimum pre-determined price that AZ finds acceptable.
Maybe SJM is merely in control of running the club on a day to day basis within financial constraints agreed with AZ due to his 20 years experience in football, and has been told to find a buyer as above.

We as mere supporters are unlikely to be ever told the truth, and certainly not whilst things are being played out.

All I am saying is that as SJM is now back controlling the club and is desperately trying to find a buyer, I find it hard to believe that AZ is still head honcho.

oxf*rd me Mate, it's not hard to understand my original point.

[SpaceCruiser]

He's the oxf*rd chairman.

[multisync1830]

Surely the final accepted price is not down to SJM? If AZ holds 51%, (which I find hard to accept given SJM is now "back in day to day control")

Why do you find it hard to accept that the Zingarvich family owns 51% but that SJM is in day to day control ?
It is pretty simple, none of the Zingravich family are in the UK or have any idea of how to run a football club, hence SJM has been asked to continue to oversee day to day running.
Antons Dad could well have asked Samuelson to take charge but probably felt that someone with over 20 years experiance of running a football club may just be a better bet.

oxf*rd me Mate, it's not hard to work out.

Apologies, but if a party owns 51% of an entity, it is generally considered that that party is "in control". Are you seriously suggesting that JM can negotiate a deal to sell the club for whatever he chooses, and then simply tells AZ that it's a done deal?

I dare say a whole host of Private Equity companies/Hedge Funds would just LOVE that to be the case in the real world, but I'm pretty sure it's not.

Maybe AZ has sold 2% back to SJM, hence the reason SJM is the one trying to find a buyer.
Maybe the share voting structure has been altered so that SJM DOES have the final say but AZ still owns 51% by value.
Maybe AZ has told SJM to find a buyer at a minimum pre-determined price that AZ finds acceptable.
Maybe SJM is merely in control of running the club on a day to day basis within financial constraints agreed with AZ due to his 20 years experience in football, and has been told to find a buyer as above.

We as mere supporters are unlikely to be ever told the truth, and certainly not whilst things are being played out.

All I am saying is that as SJM is now back controlling the club and is desperately trying to find a buyer, I find it hard to believe that AZ is still head honcho.

oxf*rd me Mate, it's not hard to understand my original point.

The manager of the local Sainsbury has day to day control but he can't do anything out of the ordinary unless it's authorized.

I believe SJM was put in day to day charge to placate everybody, it's pretty meaningless in a real sense past 'put some more beans out' type stuff.. Samuelson is still on site and therefore is aware of what the 'day to day' running is and will report back if not to AZ then definitely BZ as necessary.
BZ is funding the club atm so he will want to know what the day to day running consists of and no doubt will have put strict restrictions on what can or can't be spent. The club has a no spending policy in place and all non essential work has stopped. Tenders for building work and facility upgrades are on hold. etc etc


The fact that SJM is trying to find a buyer doesn't mean he has control beyond his 49%.
If he does find a buyer he can either
sell his 49% ,
recommend the buyer to Az for his 51%

or

if the buyer wants the 100% which has always been the main aim hope a deal can be worked out.

[Ian Royal]

Surely the final accepted price is not down to SJM? If AZ holds 51%, (which I find hard to accept given SJM is now "back in day to day control")

Why do you find it hard to accept that the Zingarvich family owns 51% but that SJM is in day to day control ?
It is pretty simple, none of the Zingravich family are in the UK or have any idea of how to run a football club, hence SJM has been asked to continue to oversee day to day running.
Antons Dad could well have asked Samuelson to take charge but probably felt that someone with over 20 years experiance of running a football club may just be a better bet.

oxf*rd me Mate, it's not hard to work out.

Apologies, but if a party owns 51% of an entity, it is generally considered that that party is "in control". Are you seriously suggesting that JM can negotiate a deal to sell the club for whatever he chooses, and then simply tells AZ that it's a done deal?

I dare say a whole host of Private Equity companies/Hedge Funds would just LOVE that to be the case in the real world, but I'm pretty sure it's not.

Maybe AZ has sold 2% back to SJM, hence the reason SJM is the one trying to find a buyer.
Maybe the share voting structure has been altered so that SJM DOES have the final say but AZ still owns 51% by value.
Maybe AZ has told SJM to find a buyer at a minimum pre-determined price that AZ finds acceptable.
Maybe SJM is merely in control of running the club on a day to day basis within financial constraints agreed with AZ due to his 20 years experience in football, and has been told to find a buyer as above.

We as mere supporters are unlikely to be ever told the truth, and certainly not whilst things are being played out.

All I am saying is that as SJM is now back controlling the club and is desperately trying to find a buyer, I find it hard to believe that AZ is still head honcho.

oxf*rd me Mate, it's not hard to understand my original point.

He's in day to day control because he's here, he's the chairman and Zingarevich and the other Directors have agreed to it. It's not rocket science strap. Christ on bike.

[72 bus]

Apologies, but if a party owns 51% of an entity, it is generally considered that that party is "in control".

Strap, if you observe grown ups closely you will see that this is exactly how they conduct buisness when one party cannot (for whatever reason) be present.
It's kind of how buisness partnerships operate.

[Man Friday]

What an absolute load of bollocks.

Without SJM we would still be in League one / third tier just like we spent about 99% (you do the math, I can't be arsed to work it out to 97.45% or whatever) of out time in the Football League until he saved us.
And if you had various businesses plus yourself to look after, you telling me you would spend it all on us?

I certainly wouldn't, that's for sure. But neither has SIr Mad yet - they're all loans (to be repaid when/if he eventually manages to sell up).

Unlike some other owners who have actually given, not loaned, their clubs money. (More fool them of course but, hey, it's their money.)

[paddy20]

I would guess that as AZ has lost all interest he just wants shot of us. Think we will go along with whatever JM does. The hold up will be JM probably being unrealistic at the moment although that may change now we are in the champ.

[Man Friday]

The manager of the local Sainsbury has day to day control but he can't do anything out of the ordinary unless it's authorized.

I believe SJM was put in day to day charge to placate everybody, it's pretty meaningless in a real sense past 'put some more beans out' type stuff.. Samuelson is still on site and therefore is aware of what the 'day to day' running is and will report back if not to AZ then definitely BZ as necessary.
BZ is funding the club atm so he will want to know what the day to day running consists of and no doubt will have put strict restrictions on what can or can't be spent. The club has a no spending policy in place and all non essential work has stopped. Tenders for building work and facility upgrades are on hold. etc etc


The fact that SJM is trying to find a buyer doesn't mean he has control beyond his 49%.
If he does find a buyer he can either
sell his 49% ,
recommend the buyer to Az for his 51%

or

if the buyer wants the 100% which has always been the main aim hope a deal can be worked out.

Agree with this. Plus, all player purchases have stopped. It'll be a miracle if we don't slide down the divisions at this rate.