floyd__streete If only someone could have predicted that shadowy foreign ownership would leave us in the sh*t
URZZZZZ Just thought I'd share this following information, regardless of how far from the truth it is and given the fact that some sado thought it up while sat on the toilet.
Here goes ( cue the laughs )
Apologies this is a tad vague. Anton Zingarevich is in discussions with a Saudi business man to purchase his 51% share of Reading Football Club. Sir John Madejski has been heavily involved with the negotiations, and it is believed he is trying to tie in the sale of his remaining 49%, bringing a sole new owner into the club.
What I know about this is very sketchy, and I have to be careful what detail I pass on, as it could get my contact in a lot of trouble, but the basics are that Zingarevich underestimated the cost of running a football club. Essentially he expected the club to stay in the Premier League and the income would all but run the club itself.
He wanted to secure a long-term loan against the Madejski Stadium (not a mortgage as was the rumour when this came out). As far as I am aware this hasn't taken place, and subsequently the buyout of the remaining shares has been 'delayed', or if you're aware of the official line, it won't now happen!
As for the potential new owner, we will just have to wait and see if anything comes of it, but what is clear is the club (i. e. Sir John and Anton) are both doing their utmost to find a new buyer.
What has become more apparent is how important promotion to the Premier League is this season. Failure to achieve this a massive overhaul of playing staff to reduce one of the highest wage bills in the Championship. The newly awarded Category One youth academy will be terminated, saving the football club £2.5m a season, and if you're eagle eyed you'll already have noticed the football club has started retracting its advertising across the town and neighbouring towns, as a cost cutting measure. (Reading Train Station is one).
winchester_royal Yeah, this anonymous post from an internet rumours site confirms all our worst fears
Tokyo Sex WhaleURZZZZZ Essentially he expected the club to stay in the Premier League and the income would all but run the club itself.
Strange expectation when buying a club at the foot of the championship.
genome I, for one, welcome our new Saudi overlords. I'm hearing rumours the takeover will be completed by December 31st, allowing Gylfi to complete his transfer.
Norfolk Royal Unattributed crap like this has no place on this message board.
URZZZZZ Essentially he expected the club to stay in the Premier League and the income would all but run the club itself.
Dick Habbin's hairdo Not wanting to pour petro-dollars on the flames.....but I will.
I have just negotiated a new sponsorship for our company in Saudi and the sponsor is a young (30), very high profile member of the House of Saud. He's bright, eloquent and has become a good personal friend.
I had lunch with him yesterday (Thursday) and one throwaway comment of his got me thinking. He said: "Every rich, young Saudi either wants to be a poet or buy an English football club."
I chortled and said: "Yeah, but Sheffield United.... really?"
His reply was words to the effect of: "Just wait....."
Now he doesn't know that I support little old RFC, and he's certainly not stupid enough to plough his family's wealth in to footy - his sporting interests lay elsewhere..... but I'd be over the moon, Brian, if he did.
And all this was before I read the ridiculous rumour on this thread just now.