Thames Sports Investment

[Friday's Legacy]

So, all those years that Madejski "invested" in the club turned out to be loans. Anybody can loan money. I'd have more respect had he invested as he implied he was doing. Could it be that the reason he struggled to sell before was that no one was prepared to repay his loans? Very, very disappointing. Typical false messiah stuff I guess.

a little harsh but i tend to agree. the black holes of recent years i believe are a mix of the clubs losses, due to a competitive wage bill, but also to partly repay john madejski, thus reducing the loans outstanding to him (debt) and making us more appealing to a potential buyer.

or not.

[RepressedRoyal]

51% = 25 million

That'll shut the 80 mill speculators up!

Increases my suspicion that SJM may have had to sell due to other business pressures

My negative thoughts as well, glad to see someone has a glass half empty attitude as well, if JM needed cash quick, it is a great deal for him, but unwittingly not necessarily RFC. The speed of it all is what troubles my mind, that said, they have done a great PR job as I found myself getting excited about this today for the first time. However, I keep feeling like a TV detective, my instinct is nagging at me that something just isn't adding up...........it's a mystery Lewis!

[Ian Royal]

So, all those years that Madejski "invested" in the club turned out to be loans. Anybody can loan money. I'd have more respect had he invested as he implied he was doing. Could it be that the reason he struggled to sell before was that no one was prepared to repay his loans? Very, very disappointing. Typical false messiah stuff I guess.

"investments" are things where you put in money expecting to get it back and then some, so he's done exactly what he's always said he's done and what the accounts have always shown. Normally you'd take interest while you're doing it as well. You won't find many people willing to put £30m of their own money into a football club for 20 years when they could be using it themselves, even if they might get back eventually.

You didn't really think Madejski had just given Reading Football club £30m did you! That's priceless!

[Rev Algenon Stickleback H]

So, all those years that Madejski "invested" in the club turned out to be loans. Anybody can loan money. I'd have more respect had he invested as he implied he was doing. Could it be that the reason he struggled to sell before was that no one was prepared to repay his loans? Very, very disappointing. Typical false messiah stuff I guess.

a little harsh but i tend to agree. the black holes of recent years i believe are a mix of the clubs losses, due to a competitive wage bill, but also to partly repay john madejski, thus reducing the loans outstanding to him (debt) and making us more appealing to a potential buyer.

or not.

don't the accounts that have been posted many times show that no money has been paid back to him?

This point gets raised every month or so, it seems.

[Rex]

I really hope this roller coaster of sound bites and preamble isn't just a dream / pie in the sky and the bar is not being set too high. It all seems crazy talk at the moment.

[Ian Royal]

So, all those years that Madejski "invested" in the club turned out to be loans. Anybody can loan money. I'd have more respect had he invested as he implied he was doing. Could it be that the reason he struggled to sell before was that no one was prepared to repay his loans? Very, very disappointing. Typical false messiah stuff I guess.

a little harsh but i tend to agree. the black holes of recent years i believe are a mix of the clubs losses, due to a competitive wage bill, but also to partly repay john madejski, thus reducing the loans outstanding to him (debt) and making us more appealing to a potential buyer.

or not.

don't the accounts that have been posted many times show that no money has been paid back to him?

This point gets raised every month or so, it seems.

Correct, in fact he put in another £500k recently.

[wolsey]

Full conference:

http://www.youtube.com/watch?v=3rRRq6QzQFI&feature=youtu.be

7 mins in and SJM sounds like he's trying to convince himself a little bit too much to me...
(joke admittedly)"he must be alright, he's had an English education",
(paraphrased)"I've met him and you can judge these things"
"I had every opportunity to speak to Bill Kenwright and I didn't because I didn't think I needed to." Err, nice faith SJM, just think it would have been smart to give your mate a bell.

It mostly sounds very good, but the Everton thing has me a little spooked, especially combined with SJM's financial situation and apparent growing disillusionment and desire to sell. Hope it's nothing and it probably is.

Ian, I've met you (well spat on you by accident) and from what I see from your posts you seem a decent enough bloke BUT can I ask you.....are you the sort of person who thinks that every silver lining has a black cloud?

FWIW I've suffered Reading for 40 years now, and I reckon that what's happening now is the best thing since Roy Tranter/Roger Smee repelled Fat Bob. (Oh and Sir J should have a peership for his efforts in promoting common sense in football)

[Rev Algenon Stickleback H]

The speed of it all is what troubles my mind

The speed of what?

Do we know how long negotiations have been going on for?

[winchester_royal]

The speed of it all is what troubles my mind

The speed of what?

Do we know how long negotiations have been going on for?

Certainly a contender for dumbest post of the season.

[philM]

So, all those years that Madejski "invested" in the club turned out to be loans. Anybody can loan money. I'd have more respect had he invested as he implied he was doing. Could it be that the reason he struggled to sell before was that no one was prepared to repay his loans? Very, very disappointing. Typical false messiah stuff I guess.

You obviously don't know much about limited companies. If you put money in you have to do it as a Directors loan with a reasonable interest rate, or buy equity. You can't "gift" it in. The tax man won't allow that.

[ZacNaloen]

This plan of theres could easily be a ten year plan, I doubt they expect to be established and in Europe in 2014. They specifically talk about responsible growth and establishing the club. stage 1 of investment squad and academy 2013/2014
promotion
Flirting with relegation 2014/15, strengthen squad again

2015/16 mid table, expand stadium (and therefore revenue)

2017/2018 ..... Strengthen squad push for europe

2018/19 stabilise, establish as a team in Europe, seek richer investors

That's the kind of plan I would expect, but I wouldn't be surprised if the gaps are bigger and it carries on well into the mid 2020s

[Ian Royal]

Full conference:

http://www.youtube.com/watch?v=3rRRq6QzQFI&feature=youtu.be

7 mins in and SJM sounds like he's trying to convince himself a little bit too much to me...
(joke admittedly)"he must be alright, he's had an English education",
(paraphrased)"I've met him and you can judge these things"
"I had every opportunity to speak to Bill Kenwright and I didn't because I didn't think I needed to." Err, nice faith SJM, just think it would have been smart to give your mate a bell.

It mostly sounds very good, but the Everton thing has me a little spooked, especially combined with SJM's financial situation and apparent growing disillusionment and desire to sell. Hope it's nothing and it probably is.

Ian, I've met you (well spat on you by accident) and from what I see from your posts you seem a decent enough bloke BUT can I ask you.....are you the sort of person who thinks that every silver lining has a black cloud?

FWIW I've suffered Reading for 40 years now, and I reckon that what's happening now is the best thing since Roy Tranter/Roger Smee repelled Fat Bob. (Oh and Sir J should have a peership for his efforts in promoting common sense in football)

My attitude is generally pessimistic short term, optimistic long term.

The problem is this seems too good to be true so obviously I'm trying to dig out the flaws so I'm not surprised when it all falls down. And tbh it's more like there's a massive silver lining with a little bit bit cloud right now. That cloud could just be a bit of silver lining out of the light, of course it could be a oxf*rd shitstorm brewing, hope not..

[RepressedRoyal]

The speed of it all is what troubles my mind

The speed of what?

Do we know how long negotiations have been going on for?

Certainly a contender for dumbest post of the season.

If you had JM on the radio the other day, he said it all happened very quickly, not that dumb really.

[ZacNaloen]

Quickly in business terms != quickly in our terms. They will have been preparing their plan for a good deal of time before approaching sir john, and if he already approved of the plan there would be very little need for protracted negotiations and therefore " it all happened very quickly"

[winchester_royal]

Certainly a contender for dumbest post of the season.

If you had JM on the radio the other day, he said it all happened very quickly, not that dumb really.[/quote]

Even if it has been done 'quickly', so what?

The main criticism of Samuelson was he took too long faffing around with Everton..

They've got 2 months now to complete due diligence and if any serious issues come up between now and the end of March then they can be acted upon.

I don't see how 'speed' is a legitimate cause of concern tbh.

Or are we worried that Anton's only got a few weeks to find a money laundering mechanism otherwise he's off to federal prison?

[RepressedRoyal]

Certainly a contender for dumbest post of the season.

If you had JM on the radio the other day, he said it all happened very quickly, not that dumb really.

Even if it has been done 'quickly', so what?

The main criticism of Samuelson was he took too long faffing around with Everton..

They've got 2 months now to complete due diligence and if any serious issues come up between now and the end of March then they can be acted upon.

I don't see how 'speed' is a legitimate cause of concern tbh.

Or are we worried that Anton's only got a few weeks to find a money laundering mechanism otherwise he's off to federal prison?[/quote] Speed would be a legitimate cause for concern if the money had been dangled and JM said yes with no further questions, I guess I got spooked by rumours that JM has got money problems. The well constructed press conference has made me feel better, but are you saying you have no concerns at all Winchester?

[Uke]

Not being funny, but any Reading fan that isn't buzzing after watching that press conference must be seriously delluded.
This could be the start of something very big at Reading FC!

Isn't that what Pompey, Leicester, Notts County fans said?

[Red]

Not being funny, but any Reading fan that isn't buzzing after watching that press conference must be seriously delluded.

Or just want a different thing from "their" football club I guess

[Bandini]

So, all those years that Madejski "invested" in the club turned out to be loans. Anybody can loan money. I'd have more respect had he invested as he implied he was doing. Could it be that the reason he struggled to sell before was that no one was prepared to repay his loans? Very, very disappointing. Typical false messiah stuff I guess.

Not everyone can borrow money on the terms that Madejski lent it.

You may have noticed that it has been difficult to borrow money in recent years.

Also, had Madejski written off the loans, the club would be worth more, as it would not have a debt to repay to him, and he would be entitled to ask for more when selling his shares.

[Uke]

The speed of it all is what troubles my mind

The speed of what?

Do we know how long negotiations have been going on for?

Certainly a contender for dumbest post of the season.

No, you still hold that crown


The negotiations have been going on, but why the big announcements about Heads of Terms?

Especially given the previous big announcements which turned to shit before the were fulfilled

I am cautiously optimistic, but won't believe things until they actually happen - until we see the investment until the contract is signed, etc.

A glass half full, is still not full; but more interesting than an empty one