Madejski Sold out and failed again

[winchester_royal]

Well it has been confirmed to me today that AZ dic infact have it away with the £36m parachute payments in the form of a Mortgage against the club.
I will not divulge a name so dont bother asking but they have actually seen the paperwork involved.
Also confirmed that unless a buyer is found very quickly then Administration is more than likely.
Despite his reported £100m SJM is right in the mire and a desperate man.
Messrs Howe and Wood Smith are believed to be off in the Sun somewhere masterminding the best way to get out as unscathed as possible...

Dont shoot the messanger.....

LOL

Do you honestly think the club would have been able to hide that level of debt in the accounts?

[Mr Optimist]

I was always partial to Yorkie biscuit, and you can't go wrong with the classic Penguin.

Mint viscounts were my early 80s chocolate biscuit of choice.

[loyalroyaldaz]

Well it has been confirmed to me today that AZ dic infact have it away with the £36m parachute payments in the form of a Mortgage against the club.
I will not divulge a name so dont bother asking but they have actually seen the paperwork involved.
Also confirmed that unless a buyer is found very quickly then Administration is more than likely.
Despite his reported £100m SJM is right in the mire and a desperate man.
Messrs Howe and Wood Smith are believed to be off in the Sun somewhere masterminding the best way to get out as unscathed as possible...

Dont shoot the messanger.....

Can we be clear about this?

What you're saying is that Anton takes out a mortgage secured against the club and the future parachute payments, receives an advance of £36m and fcuks off with the money?

Hmm, I dunno, can't quite put my finger on it but something doesn't quite ring true about that.

We will see but the source is extremely well connected and i would happily put a large wager on it.

[Royal Rother]

Don't tempt me.

[MmmMonsterMunch]

This just doesn't ring true to me.

Surely the club would have safeguards & decent business advisors on their side to prevent this from happening? This just sounds insane.

[winchester_royal]

This just doesn't ring true to me.

Surely the club would have safeguards & decent business advisors on their side to prevent this from happening? This just sounds insane.

Indeed, and the idea that it could be kept quiet for so long with only 'loyalroyaldaz' itk is even more ridiculous.

[Martin41]

Honestly, some of this is better than fairy stories you tell kids!!
Another person, who knows someone, who has seen or heard something!!!
When will it end??
Put a large wager on it then, however how large are you talking??? Then we will see how much much you trust this reliable so called source....

[Mid Sussex Royal]

Well it has been confirmed to me today that AZ dic infact have it away with the £36m parachute payments in the form of a Mortgage against the club.
I will not divulge a name so dont bother asking but they have actually seen the paperwork involved.
Also confirmed that unless a buyer is found very quickly then Administration is more than likely.
Despite his reported £100m SJM is right in the mire and a desperate man.
Messrs Howe and Wood Smith are believed to be off in the Sun somewhere masterminding the best way to get out as unscathed as possible...

Dont shoot the messanger.....

This is rubbish - I have just checked the Land Registry charges register and there are no mortgages on the ground at all.

[blythspartan]

There are some attention seeking idiots on here who want to be first with the breaking news.

Anyone can put together a few bits of information and then release it as a breaking story that they heard from a friend of a friend.

No one outside of the club really knows what financial state it is in.

May be we will go into administration and may be will get a rich new owner who leads us back to the promised land.

All I know is whether its non league football or premiership football, I will go and support the club.

I've got my season ticket for next season, as I feel that next season the club will need our support more than ever before.

[sandman]

Mate of a mate was at the hotel last night and saw someone sneaking away from the stadium with a bag which had swag written on it whilst wearing a black and white jumper and with a mask covering his face.

[loyalroyaldaz]

No one outside of the club really knows what financial state it is in.

Agreed.

[frimmers3]

if it all goes tits up,perhaps you could share the ebb stadium.but not if you drag the rugger buggers along with you.

[Man Friday]

This just doesn't ring true to me.

Surely the club would have safeguards & decent business advisors on their side to prevent this from happening? This just sounds insane.

Really? See ownership of Man U. True, they haven't fecked off yet, though.

[Major Monkey]

Can someone pass me a cornetto to stock up my bum bum

[Norfolk Royal]

No one outside of the club really knows what financial state it is in.

Agreed.

That's not true. According to Scutterbucket we called in an accountant from outside the club who was an expert in insolvency.

[Nameless]

If the info is true I assume the club have involved the police and arrests are imminent ?

Even if you are the majority shareholder I'm fairly sure you can't just open the till and help yourself to as much money as you like.

It does continue to amaze me that in a very small club there are either such a large number of people prepared to share info with any Tom , Dick or Harry, or there is one loose tongued person with lots of acquaintances who post on HNA.

Stuff posted as being'from an impeccable source' may be true, but personally I'll treat it all with extreme scepticism until I see it in the Chronicle.

[Vic_Flange]

For the princely sum of just £1.00 anyone can go to Companies House and order our accounts. Search for 'The Reading Football Club Limited' - that is our name, just as you can for any legitimate business.


Companies House wiil send you the accounts, you can take a peek online as welll, and I can confirm we are quite solvent. I haven't seen last years accounts yet (that will be the accounts you get, you cannot get account for next year as it hasn't happened yet) and this years will not have been sent yet, as it is still happening.Not all accounts need to be sent by 4 April, this depends on a company was formed.

[westongeezer]

For the princely sum of just £1.00 anyone can go to Companies House and order our accounts. Search for 'The Reading Football Club Limited' - that is our name, just as you can for any legitimate business.


Companies House wiil send you the accounts, you can take a peek online as welll, and I can confirm we are quite solvent. I haven't seen last years accounts yet (that will be the accounts you get, you cannot get account for next year as it hasn't happened yet) and this years will not have been sent yet, as it is still happening.Not all accounts need to be sent by 4 April, this depends on a company was formed.

SJM may be visible on Companies house, but TSI is Offshore and therefore not visible. As far as I know, or they don't need to file their accounts like UK companies.

[Ian Royal]

Well it has been confirmed to me today that AZ dic infact have it away with the £36m parachute payments in the form of a Mortgage against the club.
I will not divulge a name so dont bother asking but they have actually seen the paperwork involved.
Also confirmed that unless a buyer is found very quickly then Administration is more than likely.
Despite his reported £100m SJM is right in the mire and a desperate man.
Messrs Howe and Wood Smith are believed to be off in the Sun somewhere masterminding the best way to get out as unscathed as possible...

Dont shoot the messanger.....

Can we be clear about this?

What you're saying is that Anton takes out a mortgage secured against the club and the future parachute payments, receives an advance of £36m and fcuks off with the money?

Hmm, I dunno, can't quite put my finger on it but something doesn't quite ring true about that.

We will see but the source is extremely well connected and i would happily put a large wager on it.

£50 to the charity of your choice if we don't find a buyer and enter administration by august, or we get evidence Anton took £36m out of the club. And vice versa. Put your money where your bullshit is. Screen print of the donation to prove it.

[Vic_Flange]

For the princely sum of just £1.00 anyone can go to Companies House and order our accounts. Search for 'The Reading Football Club Limited' - that is our name, just as you can for any legitimate business.


Companies House wiil send you the accounts, you can take a peek online as welll, and I can confirm we are quite solvent. I haven't seen last years accounts yet (that will be the accounts you get, you cannot get account for next year as it hasn't happened yet) and this years will not have been sent yet, as it is still happening.Not all accounts need to be sent by 4 April, this depends on a company was formed.

SJM may be visible on Companies house, but TSI is Offshore and therefore not visible. As far as I know, or they don't need to file their accounts like UK companies.

Fair comment Weston, but our accounts show : Not associated with any overseas Companies' -yes, I realise this can change at any moment, but its the best we have for now.