Madejski comments on club ownership

[tmesis]

The first thing an American owner will probably do is rename our franchise as the "Thames Valley Royals" and move us to Slough because it's nearer Heathrow

More than happy to be corrected, but from the evidence of other American owners of English football clubs, the first thing they would do would be to load the debt they used to buy the club onto the club itself.

Has that happened anywhere other than at Man Utd?

It would be a pretty disastrous plan for a club that doesn't make profits.

[RoyalBlue]

The first thing an American owner will probably do is rename our franchise as the "Thames Valley Royals" and move us to Slough because it's nearer Heathrow

More than happy to be corrected, but from the evidence of other American owners of English football clubs, the first thing they would do would be to load the debt they used to buy the club onto the club itself.

Has that happened anywhere other than at Man Utd?

It would be a pretty disastrous plan for a club that doesn't make profits.

I don't think it has, whereas I believe that there are other clubs where the wealthy Yanks are pumping money into their new interest.

[peterroyal76]

The first thing an American owner will probably do is rename our franchise as the "Thames Valley Royals" and move us to Slough because it's nearer Heathrow

I'm all in favour of the second part. If the new owners like, I'll meet them at Heathrow and drive them around the local area!

SL4 - where the Queen lives...

You can't talk about czechroyal like that!

[3points]

American owners in the UK is a bit of a mixed bag really

Glazers - yes, saddled with debt but Man Utd haven't really suffered from it. Good business men
Kroenke - hasn't had to do much with Arsenal
Hicks & Gillette - saddled with debt; disaster for Liverpool
Fenway Sports - seemingly running Liverpool quite well (though they did sanction a 12m transfer fee for Borini)
Randy Lerner - sunk a load of money in initially at Villa, but has now gone back to a more sensible level
Ellis Short - see Randy Lerner; very similar
Shahid Khan - too early to judge at Fulham, but did get rid of Jol quickly as he could see Championship football looming

[MmmMonsterMunch]

I just cannot see how all this will be resolved in time to get players during the transfer window I really can't.

[Wycombe Royal]

I just cannot see how all this will be resolved in time to get players during the transfer window I really can't.

Deal in principle agreed which allows them to loan money to the club for January transfers. In other words, exactly the same as what happened when TSI took over.

[Terminal Boardom]

http://www.readingfc.co.uk/news/article/club-update-070114-1279952.aspx

'Progress is being made'

Chairman Sir John Madejski has spoken about potential new investment in Reading Football Club.

Writing in his most recent programme notes, the Chairman said, "Much has been spoken about the ownership status and investment in the club over the last few months.

"I can reassure Royals fans that progress is being made with regards to that, and the most important statement I can make at this moment in time is that we are all very confident about the future at Reading.

"As I say, progress is being made, and it is naturally in the interests of every single person connected to the club to attain promotion back to the Premier League as soon as possible."

Chief Executive Nigel Howe said, "There are a number of parties interested in acquiring ownership of the club.

"Discussions have been ongoing for a number of months and we are hopeful of having funding secured by the end of January, so that we will be able to invest in this transfer window."

I find it odd that Madejski said Anton was committed to RFC in that prior interview (he definitely said that, I wasn't paraphrasing in the OP), perhaps he meant as a supporter?

I will concede that hindsight is a wonderful thing to have but do you really think that SJM would come out and say that AZ has gone and done one? What would be the reaction then??? One thing for sure is that any potential investor would be looking to buy the club at as low a price as possible as it would reflect how desperate things had come. I never have been a fan of SJM but he has stood by the club through thick and thin and provided funding where it was required.

[floyd__streete]

Just heard the Madejski interview. Tragic. The stuttering witterings of a man who has been on the Port. Completely put on the back-foot by Tim Dellor, a man who makes Colin Murray look like Roger Cook.

Given that he doesn't give that many post-match interviews, and he didn't really seem to be trying to quash Oman investment rumours too much, I'd suspect he knew all along that Dellor was going to ask those questions.

Absolutely. That was a pre-planned interview & anyone who thinks otherwise is a bit naive. He knows the fans are getting restless & that's exactly why he chose to speak.

Looks increasingly like he lied about the 'funds available in January' bit. What a surprise

Either he lied or he is very naive and stupid

Decent interview with SJM by Dellor after the match today... a brief summary:

- Always on the look for new investors and sounds like something is on the horizon

Hmmmm, ok.

- Anton still the owner "as such" and he doesn't know when he'll be back

Hmmmm, fair enough.

- Confident Anton is committed to RFC and that there is no big problem

Liar.

- There should be funds in January, whether it is Anton's or Sir John's

Liar.

[Schards#2]

Not been Sir John's finest hour but he has done so much for the club over the years, he's still way, way in credit and will always be a legend.

I have some sympathy for him, he has no obligation to run/bankroll the club indefinately and had made his desire to step down clear for some time. When I sell my house, I don't really care how the new owner looks after it and, in the same way, Sir John has no obligation to the club going forward. That said, he clearly is concerned about the future and has done his best.

Sadly, the only game in town has turned out to be a total charleton with no interest in the club and I'm sure Sir John regrets that. It's difficult for him in interviews and he's tried to be upbeat as that's the only alternative to calling out Zingaravich and totally alienating him going forward. Clearly, the talk of money being available in January turned out to be, to put it generously, wishful thinking.

Personally, I'd like to hear the club be straight with the fans regarding Zingaravitch, if he's trousered all the funds and done one then tell us, the fans would probably be more supportive ot a team/manager left in that dilemma backing a triumph in adversity.

Hopefully, the takeover will eventually happen and we can just write the last two seasons off as bad experience. It won't make me think any less of Sir John who will always be the club's greatest hero and should have a statue in his honour erected at the ground in due course.

[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

[Uke]

I want I want I want I want I want I want I want I want I want I want I want I want I want I want I want I wantI want I want I want I want

Corrected for you.

Why should anyone put their hand in their pocket because you tell them to?

[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.

[ayjaydee]

^^^^^^^

For all his faults (egomaniac, sound bite central etc) I believe SJM will stand as one of the greatest football club chairmen ever. From where we were to where we are pretty much leaving his managers to manage and his back room staff to manage the manager.
I am now feeling a bit sorry for the old duffer though, he wants out but still has the club at heart.

[Royal Lady]

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. And I, for one, am not bothered whether we have a team to rival Arsenal or a team that will be there or thereabouts each season - as we have been for a long time - I just want to know that whoever owns the club allows the manager to make purchases that aren't going to lead us into trouble with wages etc if we have a lean season - I want the new owners to be dedic8ted to RFC, as we the fans are - who will explain from the outset what they want from RFC - i.e. run as it currently has been, but with money to spend each window if necessary - not needing to sell our best players to balance books. Then we all know where we stand and if they renege they won't be surprised if there are negative vibes coming from the fans.

At least every year with SJM we knew there would be a "black hole" and we'd have to "cut our cloth accordingly".

[Uke]

I want the new owners to be dedic8ted to RFC, as we the fans are - who will explain from the outset what they want from RFC - i.e. run as it currently has been, but with money to spend each window if necessary - not needing to sell our best players to balance books. Then we all know where we stand and if they renege they won't be surprised if there are negative vibes coming from the fans.

So you want them to repeat the same crap they always repeat?

Anything in the press is usually just PR for the club


What else would anyone say?

[Elm Park Old Boy]

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. And I, for one, am not bothered whether we have a team to rival Arsenal or a team that will be there or thereabouts each season - as we have been for a long time - I just want to know that whoever owns the club allows the manager to make purchases that aren't going to lead us into trouble with wages etc if we have a lean season - I want the new owners to be dedic8ted to RFC, as we the fans are - who will explain from the outset what they want from RFC - i.e. run as it currently has been, but with money to spend each window if necessary - not needing to sell our best players to balance books. Then we all know where we stand and if they renege they won't be surprised if there are negative vibes coming from the fans.

At least every year with SJM we knew there would be a "black hole" and we'd have to "cut our cloth accordingly".

A very big +1 to that - well said. I can remember saying at the time of the last takeover that having apparently rich foreign owners breezing in wasn't self-evidently a great thing. AZ made some good noises early on but his decision-making and behaviour since hasn't matched it.

I for one do not want the club handed over to the first person who comes along waving money around. I am glad SJM is still there, and I trust him more than almost anyone else involved. Cut the guy some slack.

[RoyalBlue]

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.

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!

[loyalroyal4life]

I want I want I want I want I want I want I want I want I want I want I want I want I want I want I want I wantI want I want I want I want

Corrected for you.

Why should anyone put their hand in their pocket because you tell them to?

Anyone who runs a business which in some respect requires public backing to be sustainable needs to put their money where their mouth is, especially when that same mouth has come out and stated that there will be money to spend on transfers

[RoyalBlue]

I want I want I want I want I want I want I want I want I want I want I want I want I want I want I want I wantI want I want I want I want

Corrected for you.

Why should anyone put their hand in their pocket because you tell them to?

Anyone who runs a business which in some respect requires public backing to be sustainable needs to put their money where their mouth is, especially when that same mouth has come out and stated that there will be money to spend on transfers

Exactly this. He did not need to open his big mouth and give the commitment of transfer funding when Dellor asked. Everyone suspected by that point that the club was in the shyte with regard to AZ's commitment. He could have tried being frank when Dellor asked and told him that, in the current situation, funding was extremely unlikely. Instead he turned into St Peter, repeating his words when pushed by Dellor.

Of course, fans would not have been happy to hear the stark truth but, in the end, he would have got far less stick than he is deservedly going to get if Adkins doesn't get the backing by next Friday.

[PieEater]

Unless of course that was his intention at the time but things have changed as the negotiations have moved on.