Thames Sports Investment

[mr_number]

Reading between the lines, if we don't get promoted this season or next season, every player and employee of the club will be lined up on the pitch and shot.

[roadrunner]

Reading between the lines, if we don't get promotion this season or next season, TSI won't be interested in buying up the rest of the shares....

Can everyone please stop reading between the lies and making things up that aren't there.

[roadrunner]

Reading between the lines, if we don't get promoted this season or next season, every player and employee of the club will be lined up on the pitch and shot.

[melonhead]

anything is possible


but reading between the lines means there should be something implied but not said in the original quote.and that isnt anywhere near the case.
reading between lines isnt just making stuff up.

SJM's reference to either this season or next season presumably comes from somewhere.

lol- he says maybe this, possibly next.

there is no implication there that Mc dermott has end of next season

[melonhead]

Reading between the lines, if we don't get promotion this season or next season, TSI won't be interested in buying up the rest of the shares....

Can everyone please stop reading between the lies and making things up that aren't there.

reading between the lines, i believe you had toast for breakfast

[Silver Fox]

Reading between the lines, Jay's an idiot

[FiNeRaIn]

Leave the eligible bachelor alone.

[No Fixed Abode]

Reading between the lines my point has been ignored - because you know I've made a valid point with 'buying' success.

This time in two years - I expect you to be following Reading Town.

[who are ya?]

Bracknell Town for me m8

[Ian Royal]

Jesus, you can certainly take from that there is a desire to be promoted by the end of next season. And from that you can take the implication that McDermott may be in a bit of trouble if he can't achieve that.

It's not like anyone is saying he's got a bomb with a timer ticking down planted in his skull.

And lets face it, in football, being a manager and knowing you've got at least 18 months to achieve something with new backing is damn good going.

[robb the royal]

No doubt someone's already said this, but my concern about the deal is that Madejski's got himself in a pretty difficult situation. His 49% stake is pretty much worthless unless and until TSI decide to exercise their option. To agree that he must be desperate for the money, and if he's desperate there's a greater likelihood that the various pledges made about ensuring that the buyers are right for the club etc will have assumed less importance when deciding whether or not to sell.

Wrong...his shares aren't worthless, just because he doesn't have the majority doesn't mean he is powerless. In most companies (and according to radio berks on sat, Reading included), you need 75% of the board to back any proposal...so if Sir John doesn't want it, it won't happen.

No you don't.

And what value would you ascribe to the shares whilst they are subject to TSI's option, bearing in mind that the terms of the option would prevent sale of the shares to a third party (even if a third party could be found who wanted to buy a minority stake in the company)?

Yeah you do, 51% gives you the biggest say in a company, but not absolute control. Look at Manchester united...or city, both of their new(ish) owners had to get 75% before they could do whatever they wanted.
I don't know what value i would put on them...I am by no means a business man (the only reason I know the 75% thing is because of the glazers), I also don't know what exactly is included in those shares...it could be just the club, it could be the stadium as well, or all the land madejski bought.

[ZacNaloen]

I've been assuming that Madejski is selling his shares in the holding company, which is the Stadium, Hotel and the Club

[Silver Fox]

Step away from the thread robb, you're making Jay look clued up

[The Rouge]

Bandini v robb the royal

It is the heavyw8 clash everyone has been waiting for.

[Bandini]

No doubt someone's already said this, but my concern about the deal is that Madejski's got himself in a pretty difficult situation. His 49% stake is pretty much worthless unless and until TSI decide to exercise their option. To agree that he must be desperate for the money, and if he's desperate there's a greater likelihood that the various pledges made about ensuring that the buyers are right for the club etc will have assumed less importance when deciding whether or not to sell.

Wrong...his shares aren't worthless, just because he doesn't have the majority doesn't mean he is powerless. In most companies (and according to radio berks on sat, Reading included), you need 75% of the board to back any proposal...so if Sir John doesn't want it, it won't happen.

No you don't.

And what value would you ascribe to the shares whilst they are subject to TSI's option, bearing in mind that the terms of the option would prevent sale of the shares to a third party (even if a third party could be found who wanted to buy a minority stake in the company)?

Yeah you do, 51% gives you the biggest say in a company, but not absolute control. Look at Manchester united...or city, both of their new(ish) owners had to get 75% before they could do whatever they wanted.
I don't know what value i would put on them...I am by no means a business man (the only reason I know the 75% thing is because of the glazers), I also don't know what exactly is included in those shares...it could be just the club, it could be the stadium as well, or all the land madejski bought.

You need 75% to do certain things, and %s of 90, 95 and 100 to give you further power, but for most business related decisions 51% is plenty.

You don't seem to have really absorbed my point about the option, the position of SJM as a minority shareholder and the value of his shares.

[FiNeRaIn]

Jesus, you can certainly take from that there is a desire to be promoted by the end of next season. And from that you can take the implication that McDermott may be in a bit of trouble if he can't achieve that.

It's not like anyone is saying he's got a bomb with a timer ticking down planted in his skull.

And lets face it, in football, being a manager and knowing you've got at least 18 months to achieve something with new backing is damn good going.

I've heard these new people are not going to mess around at all. There won't be too much this window but we will see 1/2 coming in for some decent money without going overboard. However in the summer regardless of what division we are in, there will be some serious, serious additions to the squad. I've heard silly names being thrown around but im cautious about them..too good to be true.

[ZacNaloen]

Bandini, if this gets the team promoted, unless a price has already agreed, presumably madejskis shares will be worth more and therefore he'd get more money when the option is taken up?

[Platypuss]

zac's putting the argument at it's strongest

[Royal Lady]

Jesus, you can certainly take from that there is a desire to be promoted by the end of next season. And from that you can take the implication that McDermott may be in a bit of trouble if he can't achieve that.

It's not like anyone is saying he's got a bomb with a timer ticking down planted in his skull.

And lets face it, in football, being a manager and knowing you've got at least 18 months to achieve something with new backing is damn good going.

I've heard these new people are not going to mess around at all. There won't be too much this window but we will see 1/2 coming in for some decent money without going overboard. However in the summer regardless of what division we are in, there will be some serious, serious additions to the squad. I've heard silly names being thrown around but im cautious about them..too good to be true.

LOL - where have you "heard" this?

[Harpers So Solid Crew]

Bandini, if this gets the team promoted, unless a price has already agreed, presumably madejskis shares will be worth more and therefore he'd get more money when the option is taken up?

I think the option will be at a fixed price. Just saying like.