CONFRIMED: Latest rumours Confrimed as Unconfrimed

5975 posts
Stranded
Hob Nob Subscriber
Hob Nob Subscriber
Posts: 20204
Joined: 14 Apr 2004 12:42
Location: Propping up the bar in the Nags

Re: TAKEOVER *NOT* CONFIMRED

by Stranded » 14 May 2024 11:32

WestYorksRoyal
Stranded 2 more charges on Bearwood from Redwood published on Companies House - appears they have loaned the club 2.83m over the exclusivity period.

So either the deal completes soon or the club is even more financially handicapped than it was a few months back.

Been lots of speculation on exactly how much money the club is losing, but the fact they have needed to lend almost £3m in only 2 months is eye opening. :shock:


Indeed - it doesn't naturally follow that the gap in running costs runs to the full amount but is pretty eye-opening.

User avatar
Snowflake Royal
Hob Nob Legend
Posts: 42537
Joined: 20 Jun 2017 17:51

Re: TAKEOVER *NOT* CONFIMRED

by Snowflake Royal » 14 May 2024 12:57

Stranded
WestYorksRoyal
Stranded 2 more charges on Bearwood from Redwood published on Companies House - appears they have loaned the club 2.83m over the exclusivity period.

So either the deal completes soon or the club is even more financially handicapped than it was a few months back.

Been lots of speculation on exactly how much money the club is losing, but the fact they have needed to lend almost £3m in only 2 months is eye opening. :shock:


Indeed - it doesn't naturally follow that the gap in running costs runs to the full amount but is pretty eye-opening.

It's likely one of those things where all income is going to service debt, so current costs are having to be paid wholesale by new money as Dai won't fund anything. But if we had no debt to service, our income would cover most of our expenditure. Hopefully. Maybe.

Linden Jones' Tash
Member
Posts: 545
Joined: 20 Jun 2009 12:03
Location: north of the river...

Re: TAKEOVER *NOT* CONFIMRED

by Linden Jones' Tash » 14 May 2024 16:01

for some reason this has made me think of this anecdote by Tommy Doherty - old skool player and former Man United Manager...

“My contract at that time was for £10 during the season and £8 in the summer,” he said.
“Their offer was £12 in the season and £10 in the summer.
I told them I wanted the same deal as Tom Finney.
I knew they wouldn’t give it to me, but I was chancing my arm,” he said.
“They came back to me and said, ‘Well, you’re not as good a player as Tom Finney.’
‘I am in the summer,’” Tommy replied.

Mr Angry
Hob Nob Addict
Posts: 5959
Joined: 14 Apr 2004 16:05
Location: South Oxfordshire

Re: TAKEOVER *NOT* CONFIMRED

by Mr Angry » 15 May 2024 09:38

Stranded
WestYorksRoyal
Stranded 2 more charges on Bearwood from Redwood published on Companies House - appears they have loaned the club 2.83m over the exclusivity period.

So either the deal completes soon or the club is even more financially handicapped than it was a few months back.

Been lots of speculation on exactly how much money the club is losing, but the fact they have needed to lend almost £3m in only 2 months is eye opening. :shock:


Indeed - it doesn't naturally follow that the gap in running costs runs to the full amount but is pretty eye-opening.


It could be that they have been paying off all the older, relatively small individual debts to suppliers that were still outstanding, in order to clear the decks before the full takeover, and so the new owners start with, what is in effect, a clean sheet.

Esteban
Member
Posts: 813
Joined: 16 Jul 2012 16:09

Re: TAKEOVER *NOT* CONFIMRED

by Esteban » 15 May 2024 10:01

Mr Angry
Stranded
WestYorksRoyal Been lots of speculation on exactly how much money the club is losing, but the fact they have needed to lend almost £3m in only 2 months is eye opening. :shock:


Indeed - it doesn't naturally follow that the gap in running costs runs to the full amount but is pretty eye-opening.


It could be that they have been paying off all the older, relatively small individual debts to suppliers that were still outstanding, in order to clear the decks before the full takeover, and so the new owners start with, what is in effect, a clean sheet.


Possibly some pitch maintenance to be done in the off season as well? Maybe payoffs or bonuses we're still liable for too?


South Coast Royal
Hob Nob Addict
Posts: 6371
Joined: 16 Jan 2020 17:29

Re: TAKEOVER *NOT* CONFIMRED

by South Coast Royal » 15 May 2024 15:30

Football Insider says the Chiron deal is just about done expect EFL approval which is expected in the coming MONTHS-let's hope it is more weeks than months.

Stranded
Hob Nob Subscriber
Hob Nob Subscriber
Posts: 20204
Joined: 14 Apr 2004 12:42
Location: Propping up the bar in the Nags

Re: TAKEOVER *NOT* CONFIMRED

by Stranded » 15 May 2024 15:51

South Coast Royal Football Insider says the Chiron deal is just about done expect EFL approval which is expected in the coming MONTHS-let's hope it is more weeks than months.


If it is to be believed, we have been working with the EFL very closely to get a lot of the work done - so I will be surprised if those checks are not already close to completion. So I would take that part of the article with a pinch of salt.

WestYorksRoyal
Hob Nob Addict
Posts: 6214
Joined: 15 Apr 2019 19:16

Re: TAKEOVER *NOT* CONFIMRED

by WestYorksRoyal » 15 May 2024 16:00

Yeh, it's an article that doesn't quite add up from an unreliable source.

South Coast Royal
Hob Nob Addict
Posts: 6371
Joined: 16 Jan 2020 17:29

Re: TAKEOVER *NOT* CONFIMRED

by South Coast Royal » 15 May 2024 16:06

Let's see shall we but it would be good to have it all sorted well before the start of next season which is just over a couple of months away-that is why the "months" concerned me.

Yes Stranded there has been a lot going on between us and the EFL but not for the right reasons so let's hope that they aren't too pissed off with erstwhile uncooperative Reading.


Stranded
Hob Nob Subscriber
Hob Nob Subscriber
Posts: 20204
Joined: 14 Apr 2004 12:42
Location: Propping up the bar in the Nags

Re: TAKEOVER *NOT* CONFIMRED

by Stranded » 15 May 2024 18:57

South Coast Royal Let's see shall we but it would be good to have it all sorted well before the start of next season which is just over a couple of months away-that is why the "months" concerned me.

Yes Stranded there has been a lot going on between us and the EFL but not for the right reasons so let's hope that they aren't too pissed off with erstwhile uncooperative Reading.


Quite but I'm pretty certain the EFL will want this done as quickly as possible. They will be as eager as anyone to wave Dai goodbye.

User avatar
Snowflake Royal
Hob Nob Legend
Posts: 42537
Joined: 20 Jun 2017 17:51

Re: TAKEOVER *NOT* CONFIMRED

by Snowflake Royal » 15 May 2024 21:06

Stranded
South Coast Royal Let's see shall we but it would be good to have it all sorted well before the start of next season which is just over a couple of months away-that is why the "months" concerned me.

Yes Stranded there has been a lot going on between us and the EFL but not for the right reasons so let's hope that they aren't too pissed off with erstwhile uncooperative Reading.


Quite but I'm pretty certain the EFL will want this done as quickly as possible. They will be as eager as anyone to wave Dai goodbye.

I think they've gone on record multiple times about how cooperate the staff at the club have been, haven't they?

WestYorksRoyal
Hob Nob Addict
Posts: 6214
Joined: 15 Apr 2019 19:16

Re: TAKEOVER *NOT* CONFIMRED

by WestYorksRoyal » 15 May 2024 22:35

Snowflake Royal
Stranded
South Coast Royal Let's see shall we but it would be good to have it all sorted well before the start of next season which is just over a couple of months away-that is why the "months" concerned me.

Yes Stranded there has been a lot going on between us and the EFL but not for the right reasons so let's hope that they aren't too pissed off with erstwhile uncooperative Reading.


Quite but I'm pretty certain the EFL will want this done as quickly as possible. They will be as eager as anyone to wave Dai goodbye.

I think they've gone on record multiple times about how cooperate the staff at the club have been, haven't they?

The FA published the case and verdict today. Trevor Birch was batting for Howe in his testimony and stressed the importance of ensuring the sale happens.

You can criticise the EFL for many things, but they desperately want this deal to happen like we do.

User avatar
Franchise FC
Hob Nob Super-Addict
Posts: 11697
Joined: 22 May 2007 16:24
Location: Relocated to LA

Re: TAKEOVER *NOT* CONFIMRED

by Franchise FC » 16 May 2024 08:09

Stranded
South Coast Royal Let's see shall we but it would be good to have it all sorted well before the start of next season which is just over a couple of months away-that is why the "months" concerned me.

Yes Stranded there has been a lot going on between us and the EFL but not for the right reasons so let's hope that they aren't too pissed off with erstwhile uncooperative Reading.


Quite but I'm pretty certain the EFL will want this done as quickly as possible. They will be as eager as anyone to wave Dai goodbye.

It would make some sense to have the situation sorted before issuing the fixtures

So no chance of that, then


Sutekh
Hob Nob Legend
Posts: 20044
Joined: 12 Feb 2014 14:05
Location: Undiscovered pyramid somewhere in Egypt

Re: TAKEOVER *NOT* CONFIMRED

by Sutekh » 16 May 2024 08:51

In summary then.

A deal has been agreed in principle (https://www.footballinsider247.com/read ... h-sources/), it's just the owner's tests to be passed and then we can hopefully all get back to some sense of being a normal league club again.

IF it does all go through (and there's still space for it to collapse) then the suggestion is that the new owners will be the Swiss based Chiron Sports Group who are mainly backed by Christian Angermayer and Robin Lauber. Other names involved are Leo Rifkind (formerly a director at Charlton Athletic) who manages the group while another investor, Sam Helmey, also has investments in Vitesse Arnhem and Leyton Orient so there'll need to be clarification on whether or not he has any involvement at Reading.

Chiron are essentially Venture capitalists who look to take sport related organisations on board with a view to adding as much value as possible and then selling them on again, so their ownership might be short term (hopefully, as that would mean quick success on the pitch) though one would hope any future sale would be without the distress associated with this sale.

So seems it's now all with the FL and presumably, as suggested earlier in this thread, they'll be as anxious to see the back of Dai as the rest of us.

So watch this space.

Linden Jones' Tash
Member
Posts: 545
Joined: 20 Jun 2009 12:03
Location: north of the river...

Re: TAKEOVER *NOT* CONFIMRED

by Linden Jones' Tash » 16 May 2024 09:39

Sutekh In summary then.

A deal has been agreed in principle (https://www.footballinsider247.com/read ... h-sources/), it's just the owner's tests to be passed and then we can hopefully all get back to some sense of being a normal league club again.

IF it does all go through (and there's still space for it to collapse) then the suggestion is that the new owners will be the Swiss based Chiron Sports Group who are mainly backed by Christian Angermayer and Robin Lauber. Other names involved are Leo Rifkind (formerly a director at Charlton Athletic) who manages the group while another investor, Sam Helmey, also has investments in Vitesse Arnhem and Leyton Orient so there'll need to be clarification on whether or not he has any involvement at Reading.

Chiron are essentially Venture capitalists who look to take sport related organisations on board with a view to adding as much value as possible and then selling them on again, so their ownership might be short term (hopefully, as that would mean quick success on the pitch) though one would hope any future sale would be without the distress associated with this sale.

So seems it's now all with the FL and presumably, as suggested earlier in this thread, they'll be as anxious to see the back of Dai as the rest of us.

So watch this space.


good summary - that's my take on it.

someone posted a strategy document (unknown provenance) that outlined the following:

Arbitrage
Overview -"buy low, operate sell high" - value transactions using deep sector knowledge
Investment profile - exploit lack of data usage and business acumen to unlock potential on and off the field
Pipeline - acquisition of a firmer premier league team at a significant discount to market

make of that what you will...

User avatar
Snowflake Royal
Hob Nob Legend
Posts: 42537
Joined: 20 Jun 2017 17:51

Re: TAKEOVER *NOT* CONFIMRED

by Snowflake Royal » 16 May 2024 14:51

Safe to say wouldn’t be hard to exploit our lack of business acumen over the last 6 years to get improvement.

WestYorksRoyal
Hob Nob Addict
Posts: 6214
Joined: 15 Apr 2019 19:16

Re: TAKEOVER *NOT* CONFIMRED

by WestYorksRoyal » 19 May 2024 11:36

1 week of the initial exclusivity period remaining. Though it can be extended of course. Anybody else starting to get nervous again?

User avatar
From Despair To Where?
Hob Nob Legend
Posts: 24619
Joined: 19 Apr 2004 08:37
Location: See me in m'pants and ting

Re: TAKEOVER *NOT* CONFIMRED

by From Despair To Where? » 19 May 2024 11:50

No, because there's enough evidence out there to suggest things are moving forward.

User avatar
Franchise FC
Hob Nob Super-Addict
Posts: 11697
Joined: 22 May 2007 16:24
Location: Relocated to LA

Re: TAKEOVER *NOT* CONFIMRED

by Franchise FC » 19 May 2024 11:54

From Despair To Where? No, because there's enough evidence out there to suggest things are moving forward.

Agreed
If Dai pulls out now I can’t see how the club survives at all as the security will be enacted

windermereROYAL
Hob Nob Addict
Posts: 8322
Joined: 19 Feb 2008 11:18

Re: TAKEOVER *NOT* CONFIMRED

by windermereROYAL » 19 May 2024 12:04

WestYorksRoyal 1 week of the initial exclusivity period remaining. Though it can be extended of course. Anybody else starting to get nervous again?


I wasn`t aware that exclusivity had an exact time period, we were told it could take 2 months, but that isn`t set in stone.
Last edited by windermereROYAL on 19 May 2024 15:04, edited 1 time in total.

5975 posts

Who is online

Users browsing this forum: No registered users and 279 guests

It is currently 31 Oct 2024 23:47