Reading FC (Holdings) accounts 2014/15

[Nameless]

It wouldn't make any difference as as far as I know the Thai's hold no shares in the company.
RFC (Holdings) is the effectively defunct vehicle that sold the club and the hotel to the Thais

[Green]

The shareholders have been shafted, right? Was this legal?

[STAR Liaison]

The shareholders have been shafted, right? Was this legal?

If you want one word answers they are 'yes' and 'yes'. Inevitably when you get down to the detail, things are more subtle than your language implies and there are other considerations to take into account.

[Green]

The shareholders have been shafted, right? Was this legal?

If you want one word answers they are 'yes' and 'yes'.

I did TBH, thanks.

[WoodleyRoyal]

So all this mumbo jumbo aside what does this actually mean then? Will the accounts not be made public anymore? As previous years STAR got some bloke to go through the accounts and gave a lehmanns view on them, is this not possible now? Are us fans now completely in the dark about the finances of the club?

[tmesis]

So all this mumbo jumbo aside what does this actually mean then? Will the accounts not be made public anymore? As previous years STAR got some bloke to go through the accounts and gave a lehmanns view on them

If the Lehman's view is positive, I'd be very worried.

[Nameless]

So all this mumbo jumbo aside what does this actually mean then? Will the accounts not be made public anymore? As previous years STAR got some bloke to go through the accounts and gave a lehmanns view on them, is this not possible now? Are us fans now completely in the dark about the finances of the club?

I would assume there will be one more set of accounts for this year then as the company will no longer exist there won't be much point having any more accounts.

[winchester_royal]

So all this mumbo jumbo aside what does this actually mean then? Will the accounts not be made public anymore? As previous years STAR got some bloke to go through the accounts and gave a lehmanns view on them, is this not possible now? Are us fans now completely in the dark about the finances of the club?

The football club will still be a UK registered company and is therefore obliged to submit a set of accounts to Companies House each year. These are, and always will be, available to the public.

[genome]

lehmanns view

[STAR Liaison]

So all this mumbo jumbo aside what does this actually mean then? Will the accounts not be made public anymore? As previous years STAR got some bloke to go through the accounts and gave a lehmanns view on them, is this not possible now? Are us fans now completely in the dark about the finances of the club?

This is still possible and will be on its way shortly.

[Brum Royal]

lehmanns view

I didn't realise now he'd retired he'd become an accountant.

[STAR Voice]

So all this mumbo jumbo aside what does this actually mean then? Will the accounts not be made public anymore? As previous years STAR got some bloke to go through the accounts and gave a lehmanns view on them, is this not possible now? Are us fans now completely in the dark about the finances of the club?

This is still possible and will be on its way shortly.

This analysis - an informed individual's personal view - is now viewable via a pdf on http://www.star-reading.org . and is the best picture we have.

[Vision]

So all this mumbo jumbo aside what does this actually mean then? Will the accounts not be made public anymore? As previous years STAR got some bloke to go through the accounts and gave a lehmanns view on them, is this not possible now? Are us fans now completely in the dark about the finances of the club?

This is still possible and will be on its way shortly.

This analysis - an informed individual's personal view - is now viewable via a pdf on http://www.star-reading.org . and is the best picture we have.

Really good work again on the Accounts front. Much appreciated.

[Maneki Neko]

yep, nice one.

[Ian Royal]

Great write up as ever. Worrying that our income is going down £20m this season.

Bonkers that we barely cut the wage bill at all for last season. I seem to recall expressing doubt it would have dropped a great deal, though that's less than I'd have thought! I can't see it being much lower this season either. The Thais really do seem to be stumping up the cash. We need REP to go smoothly amd some success on the pitch for them to stay around long I imagine.

The Cup runs are probably helping significantly with that.

[One8Seven1*]

Great write up as ever. Worrying that our income is going down £20m this season.

Bonkers that we barely cut the wage bill at all for last season. I seem to recall expressing doubt it would have dropped a great deal, though that's less than I'd have thought! I can't see it being much lower this season either. The Thais really do seem to be stumping up the cash. We need REP to go smoothly amd some success on the pitch for them to stay around long I imagine.

The Cup runs are probably helping significantly with that.

They've already made it clear the club can't make money outside of the Premier League, and they also warned us that if that was still the case in a few years they would have to consider selling. This was the part owner they interviewed while on pre-season tour last year. Making money from the land is very much their focus. I hope they do right by us as well but I just can't help but feel they will be gone when it's all built and sold. Time will tell.

[Maneki Neko]

Great write up as ever. Worrying that our income is going down £20m this season.

Bonkers that we barely cut the wage bill at all for last season. I seem to recall expressing doubt it would have dropped a great deal, though that's less than I'd have thought! I can't see it being much lower this season either. The Thais really do seem to be stumping up the cash. We need REP to go smoothly amd some success on the pitch for them to stay around long I imagine.

The Cup runs are probably helping significantly with that.

Anton Zingaravich wants stringing up for what he did to this club
we will still be feeling the effects for years to come.

next season will be hugely difficult if we have to cut 20 million from the budget. more of our best players sold, and yet another rebuild based on youth ad cheap punts. another transitional season

[multisync1830]

Some serious money needs to be underwritten or I can only see a bleak future for the club (but perhaps not for prop Co Ltd)

[3points]

The STAR write up is a little misleading I think. The £11m profit on disposal is only a paper profit. It does not represent cash. This is borne out by the fact that debts went up despite us making a profit. Therefore I believe the actual operating budget will fall more in line with the drop in parachute payments (plus lower match day revenue as our current gates are pretty low). Notwithstanding this point, we will need to continue to sell players and not renew higher earner contracts. Development in youth will be vitally important to keep the club challenging for success.

The Thais do look to have pushed the boat out with backing Clarke last summer in terms of wage bill support (if not in transfer fees). But I can't see that happening again so Brian will need to scrimp and save. McShane and Quinn must both be on decent money given we were able to entice them away from Hull and HRK will have to do a Gunter and settle for less. I can't see much chance in keeping Williams either

[Nameless]

You'd think with a year left on his contract now would be the time to raise money by selling Williams. With Evans and Tishbola on board the gap , is at least potentially , fairly easy to fill.
The Thai's won't be dealing with a crisis here, the position seems pretty much as they would have expected. If their aim of getting us up into the Prem remains then funding will be there to some degree. Time will tell.