SJM Interview - BBC South Today (Wednesday)

[Pseud O'Nym]

He actually said there WOULD be funds, not there might be. Out & out liar. Can't wait til he's gone.

Let's feel sorry for a millionaire? P1ss off.

Did he say what the funds would be.... £10.75, £50, £10m, £750m, £20k, £100k or 99p

Maybe the funds were inadequate, certainly for signing Billy Sharp.... maybe if we'd discovered the next Nicky Shorey in Leighton Orient reserves he would have pulled the required £25k out of his pocket.

And why would Steve Bruce have said we were negotiating for the services of Jack Hobbs if we weren't?

[Unphased Royal]

He actually said there WOULD be funds, not there might be. Out & out liar. Can't wait til he's gone.

Let's feel sorry for a millionaire? P1ss off.

Did he say what the funds would be.... £10.75, £50, £10m, £750m, £20k, £100k or 99p

Maybe the funds were inadequate, certainly for signing Billy Sharp.... maybe if we'd discovered the next Nicky Shorey in Leighton Orient reserves he would have pulled the required £25k out of his pocket.

And why would Steve Bruce have said we were negotiating for the services of Jack Hobbs if we weren't?

To make Forest think they have competition for Hobbs to get a better deal for his team? Our "negotiating" may well have been an enquiry rather than actual offers

[MmmMonsterMunch]

Thought us 'going' for Hobbs meant Hull got money off Forest.............so they could then buy Long & we got a sell on fee?

[Royal Biscuitman]

*SIGH*

1. Just because he may (or may not) have a value of £100M does not mean that he has £100M sitting in a sealed bank vault just itching to be spent. Any net worth for SJM would take into account assets, holdings and property (which probably includes his share of the club, and may even include his loans to it). I'm also pretty certain he took a huge hit in the crash.

2. I have to wonder what many of the people on this board would do if someone related to one of the richest people in the world wanted to buy something they had for sale? I am sure many times, even before the buy out, that the term 'The Zingarevichs' was used quite often. Anyone who thinks AZ bought this club on his own, without at least the implied support of daddy's roubles, are probably a little bit deluded. I don't know why AZ p*ss*d off, we may never know. Chances are the due diligence that they say SJM cocked up, encompasseed BZ's wealth as part of the assessment, and who is going to say no when a billionaire comes knocking? SJM can be grumbled at for a few things, but I seriously can't see this being one of them. On paper this was the perfect purchase for us, shame it turned out to be toilet paper

Nothing about due diligence would have predicted BZ throwing a wobbly and refusing to fund the deal. Unless you had get Mystic Meg involved....

+1 Due diligence (I believe!) only involves them checking the criminal record of prospective parties, and that their actual wealth is comparable to what is claimed. I don't think it involves any sort of check that 18 months in the future you may.....

1. Lose interest when your baby is born
2. Develop a drug habit to the extent that your father grounds you
3. Find that daddy withdraws funding because he is building infrastructure at Sochi
4. Do a moonlight flit leaving your £xxM investment behind
5. Find that daddy has stopped your pocket money because your one off purchase has turned into one of those weekly collectible magazines they advertise on the tv at a much reduced initial price.

I think all these reasons have been speculated about during this season at some point, and none of them are something that anybody could have foreseen really.

In terms of due diligence, I think JM took enough of a precaution. He may only own 49% of the club but all his loans were repaid, so he got back all he put in. The loans that now exist are to TSI and there's little chance of them being repaid in full.

I'd question whether TSI did proper due diligence to not understand what they were taking on, They now have loans to a company they control with no means of making enough profit to repay those loans and since there hasn't been anyone prior to TSI looking to buy the club, I doubt any buyers will come out of the woodwork now we're in a worse state and offer to buy their shares and repay their loans.... and the loans are key as I believe they are bigger than the £25m they paid for the shares.

Maybe SJM is a more crafty businessman than we and TSI took him for.

[Pseud O'Nym]

Thought us 'going' for Hobbs meant Hull got money off Forest.............so they could then buy Long & we got a sell on fee?

So again rumour and conjecture on this forum are taken as fact and the word of an involved party dismissed. Words fail me.

[Vic_Flange]

Fcuks sake.

OK, I admit it, I am Sir John Madeshi (Steve Ryder is in the house) and after all this shite, you lot can have this money-losing pile of crap that Ive bankrolled for nearly 25 years.

Laters, Im off to Bermuda.

Bollocks, the ticket actually says Bounemouth

[The Rouge]

Nothing wrong with Bournemouth

[Major Monkey]

They call me major monkey. I am small and spunky

[melonhead]

indeed

[The Real Sandhurst Royal]

£300 million loss since economic downturn!!

[Royal Lady]

He's down to his last £100 million of assets but he needs to start cutting his cloth. Does he really need all these fancy cars? Why not get a nice Fiat 500 or something, the vehicular equivalent of Nick Blackman you might say.

[Ian Royal]

Wasn't SJM worth £350 - £400m pre-recession? Down to £100m is a huge loss of capital and has been said it's likely to have left him with very little liquidity.

When you've lost three quarters of your wealth I imagine the last thing you want to do is throw more of it into a loss making machine you want out of.

[Royal Lady]

Wasn't SJM worth £350 - £400m pre-recession? Down to £100m is a huge loss of capital and has been said it's likely to have left him with very little liquidity.

When you've lost three quarters of your wealth I imagine the last thing you want to do is throw more of it into a loss making machine you want out of.

Precisely - but I still think he should be cutting his cloth - for his own benefit, not ours!

[Ian Royal]

Wasn't SJM worth £350 - £400m pre-recession? Down to £100m is a huge loss of capital and has been said it's likely to have left him with very little liquidity.

When you've lost three quarters of your wealth I imagine the last thing you want to do is throw more of it into a loss making machine you want out of.

Precisely - but I still think he should be cutting his cloth - for his own benefit, not ours!

TBF he did recently get a cash injection of at least £12m, possibly more. And he's spending all his time at the hotel in his free room, saving on heating at his mansion.

[Man Friday]

1. Lose interest when your baby is born

That's not how these people get rich. They're not like you and me, FFS.

[Ian Royal]

1. Lose interest when your baby is born

That's not how these people get rich. They're not like you and me, FFS.

Plenty of non-rich people lose interest in work when their baby is born.

It's certainly happened where I work.

[Sutekh]

He actually said there WOULD be funds, not there might be. Out & out liar. Can't wait til he's gone.

Let's feel sorry for a millionaire? P1ss off.

Did he say what the funds would be.... £10.75, £50, £10m, £750m, £20k, £100k or 99p

Maybe the funds were inadequate, certainly for signing Billy Sharp.... maybe if we'd discovered the next Nicky Shorey in Leighton Orient reserves he would have pulled the required £25k out of his pocket.

But funds were made available otherwise how could we have bid a speculatory sum for Jack Hobbs..... or was that a phantom bid

[RoyalBlue]

£300 million loss since economic downturn!!

Was the economic downturn to blame (lots still made plenty of money during it)? Or were his losses due to him continuing to plough money into a business(s) which were bigger losers and which had less chance of winning than Reading FC?

The print industry when so much is moving away from paper?

He actually said there WOULD be funds, not there might be. Out & out liar. Can't wait til he's gone.

Let's feel sorry for a millionaire? P1ss off.

Did he say what the funds would be.... £10.75, £50, £10m, £750m, £20k, £100k or 99p

Maybe the funds were inadequate, certainly for signing Billy Sharp.... maybe if we'd discovered the next Nicky Shorey in Leighton Orient reserves he would have pulled the required £25k out of his pocket.

But funds were made available otherwise how could we have bid a speculatory sum for Jack Hobbs..... or was that a phantom bid

It was cobblers. If funds were available, why did Adkins very quickly say that there weren't any and why were we unable even to retain Baird for the remainder of the season? If the funds were really going to be that pathetic (i.e. insufficient to secure even Baird) then Madejski should have been honest/bright enough to say 'There will only be very limited funds available to the manager'.

Still people try to make excuses for Madejski even when it is abundantly clear that he gave an unqualified and unforced public commitment live on radio, which he then completely failed to deliver on.

As for being hard up, I very much suspect that he can still afford to employ a smart accountant(s) to ensure that any losses (and gains) are handled in the most tax efficient manner possible.

[Royal Rother]

[Tony Le Mesmer]

Lol at anyone who thinks JM went on air and said that HE would be providing funds for transfers. HE DIDN'T. He was speaking on behalf of the owners who have let everyone down. I guess some people are so incredibly thick that they actually thought he would be ploughing his own money into a company that he didn't own. You Bellends.