Confimred new owners of Raeding Footbal Club

[Nameless]

Supporting Reading has become very tedious nowadays. Going to the Madejski is a dull, warmless experience, watching 30 grand a week Pogrebynak miss from 5 yards out epitomises the great fall this club has taken - you didn't really care if Martin Butler or Carl Asaba missed a sitter or two, but we're actually paying our Russian striker a hefty wage to contribute relatively little. All of this for £25 quid a time, which goes towards paying for seemingly endless debts, does make you wonder whether the current incarnation of the club is worthwhile.

You'd be happier supporting Leeds I suspect.....

Although to be honest there have been much, much worse times to be a Royals fan. We paid Steve Moran a lot of money to do a lot less than the Pog does

[yappy]

The important thing is not to get another owner like Anton who is too ambitious and pushes the club into places where it could not afford to be, hence leaving us with a financial shit storm when his money stopped coming in.

From what we've been told, this buyout will be clearing the club's debts...which is actually a massive deal, especially when you consider that we still have another 3 years of parachute payments to give us a decent financial advantage over most of the league.

Couldn't agree with this post more. If we can clear all our debt, and buy the new training ground to keep our category 1 status it will leave the club in the best state it has ever been. If the club can be run sensibly, more like the old 'Reading Way' I still believe the club can progress. I'd rather much try and get to the Premier League the way someone like West Brom has, largely operating within their means, rather than gambling the club's future away as we have this time.

[West Stand Man]

Supporting Reading has become very tedious nowadays. Going to the Madejski is a dull, warmless experience, watching 30 grand a week Pogrebynak miss from 5 yards out epitomises the great fall this club has taken - you didn't really care if Martin Butler or Carl Asaba missed a sitter or two, but we're actually paying our Russian striker a hefty wage to contribute relatively little. All of this for £25 quid a time, which goes towards paying for seemingly endless debts, does make you wonder whether the current incarnation of the club is worthwhile.

Don't go then....

Well said.

[winchester_royal]

The important thing is not to get another owner like Anton who is too ambitious and pushes the club into places where it could not afford to be, hence leaving us with a financial shit storm when his money stopped coming in.

From what we've been told, this buyout will be clearing the club's debts...which is actually a massive deal, especially when you consider that we still have another 3 years of parachute payments to give us a decent financial advantage over most of the league.

It's a massive deal unless they leverage the payment to clear the debts back onto the club, meaning we still owe the money, just to them now. Although that's not exactly a terrible state of affairs.

Can't be the case. Otherwise they'd only be paying £5m for the club.

[Ian Royal]

The important thing is not to get another owner like Anton who is too ambitious and pushes the club into places where it could not afford to be, hence leaving us with a financial shit storm when his money stopped coming in.

From what we've been told, this buyout will be clearing the club's debts...which is actually a massive deal, especially when you consider that we still have another 3 years of parachute payments to give us a decent financial advantage over most of the league.

It's a massive deal unless they leverage the payment to clear the debts back onto the club, meaning we still owe the money, just to them now. Although that's not exactly a terrible state of affairs.

Can't be the case. Otherwise they'd only be paying £5m for the club.

I don't think it works like that.

[winchester_royal]

I think it does. If they just leveraged the £25m against the club they're not actually paying off the debt, and only actually spending £5m and investing the rest. The deal was that they would be clearing the debts, and they can't do that in the way you're suggesting.

[yappy]

Well most of our debt, as I understand, is owed to Vibrac and SJM. I believe the Vibrac payment is due next month, so you'd presume that would be paid off, and with SJM only having 10% of the club left you wouldn't be surprised if the Thai's are paying off the loan owed to SJM.

[maffff]

That's correct. The club is valued at £5m. The rest is leveraged against all outstanding debt.

[Ian Royal]

I think it does. If they just leveraged the £25m against the club they're not actually paying off the debt, and only actually spending £5m and investing the rest. The deal was that they would be clearing the debts, and they can't do that in the way you're suggesting.

Hypothetically. They're paying off the debtors, which is essentially the same thing as paying the debt. The debt would then be a new debt to them, not the old debt. People don't usually just give £20m away. They normally expect a return.

Now maybe I've totally misunderstood. But it seems pretty naive to me to expect a Thai consortium to gift us £20m for the pleasure of spending £5m to own a loss making money sink.

[winchester_royal]

I think it does. If they just leveraged the £25m against the club they're not actually paying off the debt, and only actually spending £5m and investing the rest. The deal was that they would be clearing the debts, and they can't do that in the way you're suggesting.

Hypothetically. They're paying off the debtors, which is essentially the same thing as paying the debt. The debt would then be a new debt to them, not the old debt. People don't usually just give £20m away. They normally expect a return.

Now maybe I've totally misunderstood. But it seems pretty naive to me to expect a Thai consortium to gift us £20m for the pleasure of spending £5m to own a loss making money sink.

They're not giving 20m...that's what they are paying to own the club. That was the deal. When debt free the club is probably worth around £30m so by paying off the debt and then an extra 5m they are essentially buying a company for what it's worth.

[Za Vas]

I don't know any people on this forum, but I'm convinced lots and lots are clueless idiots.........I must be right as some of you have made assumptions of people you don't know.....that's how it works right?

[SPARTA]

New owners first board meeting - https://vine.co/v/Mzb6EgAU5gQ

[Lacoste]

Have to love watching a bunch of below average Joe's discussing the why's etc of a multi million £££££ takeover from their three bedroom semi detached, or more likely their parents house

None of you have a clue so chill and wait to see who is involved/costed etc when all confirmed.

[Royal Ginger]

She had the choice of some pretty rich people and she choose him

I'm sure she does ok in the day to day life of luxury stakes.

[loyalroyal4life]

Robert Tan Net Worth $220m, mostly from real estate


Robert Tan built IGB Corp. from the small property developer he inherited to one of the country's largest landlords. Portfolio includes Malaysia's largest mall, in Mid-Valley City, and the Gardens mall. Shares wealth with sister Pauline Tan.

[multisync1830]

Robert Tan Net Worth $220m, mostly from real estate


Robert Tan built IGB Corp. from the small property developer he inherited to one of the country's largest landlords. Portfolio includes Malaysia's largest mall, in Mid-Valley City, and the Gardens mall. Shares wealth with sister Pauline Tan.

Perhaps they are interested in the land after all..

[Franchise FC]

I think it does. If they just leveraged the £25m against the club they're not actually paying off the debt, and only actually spending £5m and investing the rest. The deal was that they would be clearing the debts, and they can't do that in the way you're suggesting.

Hypothetically. They're paying off the debtors, which is essentially the same thing as paying the debt. The debt would then be a new debt to them, not the old debt. People don't usually just give £20m away. They normally expect a return.

Now maybe I've totally misunderstood. But it seems pretty naive to me to expect a Thai consortium to gift us £20m for the pleasure of spending £5m to own a loss making money sink.

They're paying off the creditors, not the debtors

[marcusopp]

Christ there are some idiots on here.......administration really?????
Oh well, suppose it gives the rest of us a laugh.......at them not with them!

None more stupid than you. I guess the 41 is your IQ right?
This club is losing money hand over fist. Madejski has lost 75% of his fortune and we're struggling to find actual investment.
All you need to do is look at what's happened to other 'stable' clubs in our position to realise we could be fecked in the not too distant future if we don't either sort out some investment or trim our expenses down, which means losing players and staff.

[JIM]

I like the ladies qualifications, 1 hotel management ,2 music director 3 upkeep of playing surface of mad house .

[Extended-Phenotype]

I think it does. If they just leveraged the £25m against the club they're not actually paying off the debt, and only actually spending £5m and investing the rest. The deal was that they would be clearing the debts, and they can't do that in the way you're suggesting.

Hypothetically. They're paying off the debtors, which is essentially the same thing as paying the debt. The debt would then be a new debt to them, not the old debt. People don't usually just give £20m away. They normally expect a return.

Now maybe I've totally misunderstood. But it seems pretty naive to me to expect a Thai consortium to gift us £20m for the pleasure of spending £5m to own a loss making money sink.

They're not giving 20m...that's what they are paying to own the club. That was the deal. When debt free the club is probably worth around £30m so by paying off the debt and then an extra 5m they are essentially buying a company for what it's worth.

You can still pay off debts to other parties and take ownership of the debt. The fact that we have heard they are clearing our debt doesn't make this eventuality any less likely.