TAKEOVER *NOT* CONFIMRED

[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.

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

[Snowflake Royal]

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.

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]

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]

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.

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]

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.

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]

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]

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]

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

[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.

[Stranded]

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.

[Snowflake 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]

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.

[Franchise FC]

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]

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]

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...

[Snowflake Royal]

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

[WestYorksRoyal]

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

[From Despair To Where?]

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

[Franchise FC]

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]

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.