by RoyalBlue »
25 Jan 2014 12:03
loyalroyal4life SJM has cocked up here, he was expecting takeover to happen well in time for funds to be made available and thus broadcast this to the fans.
I still do not see why he can't put his money where is mouth is and front a spending spree and get new owners to pay it back as part of the takeover. Gives us more chance of going up and gives NA some funds which i am sure he was promised when he joined
Bit of a parallel with poor old Brian here. Madejski is/was a Reading hero but his performance over the past couple of years has been pretty dire and, had he been a manager, he would have received the dreaded 'vote of confidence' some time ago.
It now appears that his 'staged' interview with Dellor a month or so ago was, being charitable, somewhat less than frank and his assurances of funding this transfer window have turned out to be about as genuine as Nick Clegg's pledge on student fees!
I'm sure like the LibDems, Madejski's supporters will claim that circumstances changed beyond his control but Madejski never seems to learn and keeps raising supporters' expectations only to dash them again not long after.
Meantime he has little option but to remain at the club because I suspect that in the current environment, his minority holding is worth the square root of not much at all.
Royal Lady howser I guess that Sir John was taken in by Anton, TSI etc, but then again wern't we all ? He does seem to get constantly dug at for not throwing his money at the club, for a man who has overseen us climb from the lower leagues to where we are now, he has been outstanding in his commitment to the club. No doubt that this time round he will make doubly sure that the prospective purchasers are totally genuine in their interest in the club and not just some here today gone tomorrow fly boy.
Not EVERYONE was taken in by AZ and TSI.
And I'm not sure how SJM manages to make sure that the new purchasers are genuine - he only has their word for it - they could have billions, doesn't mean they will invest any of it.
Err, for starters he makes sure that he undertakes proper due diligence and ensures that not only do they have the funds to buy the full shareholding but also that the sale and purchase agreement is drawn up in such a way that they can't default. It was the failure to do that properly that has left us in the current mess. Far bigger businesses than Reading FC are sold on a regular basis without the buyers being able to default and Madejski has always been lauded as a brilliant business man.
You are, of course, correct regarding the final point. He can't easily ensure that once someone else owns the club that they will fulfill their commitments to invest, anymore than we (or his manager) can ensure that he provides the transfer funding that he previously said would be available this month!
Last edited by
RoyalBlue on 25 Jan 2014 12:10, edited 1 time in total.