Confimred new owners of Raeding Footbal Club

[winchester_royal]

You can yes, I'm well aware of that, but the fact is that if all they were doing was taking ownership of the debt then they'd effectively only be paying £5m for the club. If that was all SJM was looking for then he'd have sold it inside of 2 weeks.

By paying off the debt, and then an extra £5m, they are basically acquiring a debt free RFC for around the £30m mark. Which is about right.

[Extended-Phenotype]

You can yes, I'm well aware of that, but the fact is that if all they were doing was taking ownership of the debt then they'd effectively only be paying £5m for the club. If that was all SJM was looking for then he'd have sold it inside of 2 weeks.

By paying off the debt, and then an extra £5m, they are basically acquiring a debt free RFC for around the £30m mark. Which is about right.

No, they would need to pay the 25m to our debtors, thereby transferring our debt to them. If you owed me a fiver and your mate Dave said he'd take care of it, I'd expect Dave to pay me the bloody fiver. Then you'd owe him 5.

[West Stand Man]

You can yes, I'm well aware of that, but the fact is that if all they were doing was taking ownership of the debt then they'd effectively only be paying £5m for the club. If that was all SJM was looking for then he'd have sold it inside of 2 weeks.

By paying off the debt, and then an extra £5m, they are basically acquiring a debt free RFC for around the £30m mark. Which is about right.

No, they would need to pay the 25m to our debtors, thereby transferring our debt to them. If you owed me a fiver and your mate Dave said he'd take care of it, I'd expect Dave to pay me the bloody fiver. Then you'd owe him 5.

True, but as a parent I also find myself in situations where I cover the debt (for an offspring) and there is no transfer of that debt. Ergo, sometimes (but rarely) there are circumstances where you do write the debt off as a goodwill gesture. Unlikely in this case one suspects.

[winchester_royal]

You can yes, I'm well aware of that, but the fact is that if all they were doing was taking ownership of the debt then they'd effectively only be paying £5m for the club. If that was all SJM was looking for then he'd have sold it inside of 2 weeks.

By paying off the debt, and then an extra £5m, they are basically acquiring a debt free RFC for around the £30m mark. Which is about right.

No, they would need to pay the 25m to our debtors, thereby transferring our debt to them. If you owed me a fiver and your mate Dave said he'd take care of it, I'd expect Dave to pay me the bloody fiver. Then you'd owe him 5.

*creditors. And there's a difference between rransfering debt and paying off debt. If Dave wanted to buy my phone for £10 and I was short on cash then I could say that if he pays off my debt to you then he can only owes me £5.

If the Thais are just transferring the debt so that its now owed to them then they have only spent £5m to acquire a football club that has assets of well over double that. Would be the deal of a lifetime.

[10539.4 Miles Away]

Isn't JM himself still our major creditor?

[winchester_royal]

Which is probably why he's happy for the paying off of debt to be the main part of deal.

[Martin41]

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.

Just busted a rib, after reading your hilarious 41 that must be your i.q!!!
Other than some on here, no one has even spoke about administration. Yes we need new owners, what do you thinking they are trying to tie up at the moment.
If administration happens, which I very much doubt, then we can start to worry..........that's if not when!!

[Wycombe Royal]

Isn't JM himself still our major creditor?

I thought it was the Russians......

[10539.4 Miles Away]

Isn't JM himself still our major creditor?

I thought it was the Russians......

You may well be right, was working from memory rather than any insider info

[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.

Just busted a rib, after reading your hilarious 41 that must be your i.q!!!
Other than some on here, no one has even spoke about administration. Yes we need new owners, what do you thinking they are trying to tie up at the moment.
If administration happens, which I very much doubt, then we can start to worry..........that's if not when!!

Fair enough, i am very concerned as to the future of the club with the current expenditure:income ratio.
A few years ago it seemed like the club was financially stable. It's almost like striving for premier league football is what has tipped the balance. I sometimes wish we'd have stayed as we were before making expensive signings (transfers and wages) with only a moderate increase in average annual income.
I hope you're right and i'm being paranoid...

[UpThePrem]

Isn't JM himself still our major creditor?

I thought it was the Russians......

You may well be right, was working from memory rather than any insider info

Thought the vibrac loan paid off the Russians.

[Ian Royal]

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.

You mean the way we're sorting out investment right now?

[Agent Balti]

Thought the vibrac loan paid off the Russians.

No, the Vibrac loan was what the Russians leveraged against our parachute payments...I think.

[RoyalBlue]

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..

At last. People are now waking up to the fact that Phoenix might not be the only outfit interested in acquiring the club for purposes other than their love of football. We may have run away from the evil clutches of Phoenix only to be 'rescued' by someone no more desirable. What lines of business has the lady of the consortium been involved in?

[maffff]

Thought the vibrac loan paid off the Russians.

No, the Vibrac loan was what the Russians leveraged against our parachute payments...I think.

Correct.

The Russians are the main other debtors having taken much of SJMs loans.

[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.

They're paying off the creditors, not the debtors

[RoyalBlue]

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.

I think you seriously underestimate the business knowledge and acumen of some on this board. Just because people make work/life balance choices and decide not to sacrifice everything in their pursuit of endless riches doesn't mean that they aren't able to operate as extremely effective business people. I'm pretty sure there are some pretty high powered and successful individuals airing their views on HNA.

And a word of caution to others, just because Samuelson and Phoenix are perceived by most as the devil incarnate, doesn't mean that the Thais are saints with entirely honourable/philanthropic intent in relation to Reading FC.

[Royal Biscuitman]

Could Reading Council step in and change the planning permissions for the club's land in the interests of the town? - If they wanted to that is.

If you can't use the stadium land for anything other than a stadium and parking it would make it worthless to anyone wishing to use it for other developments.

Likewise the training ground proposed, although that is presumably outside of Reading Council's jurisdiction

[Extended-Phenotype]

You can yes, I'm well aware of that, but the fact is that if all they were doing was taking ownership of the debt then they'd effectively only be paying £5m for the club. If that was all SJM was looking for then he'd have sold it inside of 2 weeks.

By paying off the debt, and then an extra £5m, they are basically acquiring a debt free RFC for around the £30m mark. Which is about right.

No, they would need to pay the 25m to our debtors, thereby transferring our debt to them. If you owed me a fiver and your mate Dave said he'd take care of it, I'd expect Dave to pay me the bloody fiver. Then you'd owe him 5.

*creditors. And there's a difference between rransfering debt and paying off debt. If Dave wanted to buy my phone for £10 and I was short on cash then I could say that if he pays off my debt to you then he can only owes me £5.

If the Thais are just transferring the debt so that its now owed to them then they have only spent £5m to acquire a football club that has assets of well over double that. Would be the deal of a lifetime.

Oof, yeah - sorry. I'm all over the shop on this one.

[Uke]

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.

I think you seriously underestimate the business knowledge and acumen of some on this board. Just because people make work/life balance choices and decide not to sacrifice everything in their pursuit of endless riches doesn't mean that they aren't able to operate as extremely effective business people. I'm pretty sure there are some pretty high powered and successful individuals airing their views on HNA.

And a word of caution to others, just because Samuelson and Phoenix are perceived by most as the devil incarnate, doesn't mean that the Thais are saints with entirely honourable/philanthropic intent in relation to Reading FC.

Agreed Except anyone who owns a football club is no saint and that has always been the case (including Ebbsfleet in 2007)

Can you now go back to SJM bashing so normal service can be resumed