by One8Seven1* » 05 Sep 2016 13:00
by bcubed » 05 Sep 2016 13:51
One8Seven1* Obviously, when the Thai's came in, we were told they were our saviours, and we were perhaps hours from going into Administration.
What concerns me is that the debt has increased every year since their takeover - 2013/2014 and 2014/2015. It'll be interesting just by how much when we see the next accounts.
Back before Anton came in and nearly ruined us, we had an annual black hole which frustrated many of the supporters, needing to sell a top player each summer just to keep us in the black. That black hole must now be double, or greater, than back then, plus we now have to find approx. £2.5m a season to keep the Cat 1 Academy going.
It all looks very bleak unless this club can get back into the Premier League, and even then, we'd have to perform miracles on a frugal budget to start paying off that debt, and try and maintain Premiership status (which we've tried and failed at twice before through being tight-fisted).
The Thai's have also made it clear that we need to be in the Premier League within a few years otherwise they'd have to cut their losses (I think that was Tiger a year or so ago. The article should be out there somewhere). Bare that in mind along with Royal Elm Park being built, and one of the clubs most sellable assets going, that would leave us needing a new owner with a much less attractive club to buy, and ever increasing debts. What were they last know to be?
Apologies for the apocalyptic theme.
* On a brighter note, and as I've mentioned previously, STAR have protected the stadium as an Asset of Community Value.
by Nameless » 05 Sep 2016 15:35
by Forbury Lion » 05 Sep 2016 16:00
by Royalwaster » 05 Sep 2016 16:07
by Ian Royal » 05 Sep 2016 18:42
One8Seven1* Obviously, when the Thai's came in, we were told they were our saviours, and we were perhaps hours from going into Administration.
What concerns me is that the debt has increased every year since their takeover - 2013/2014 and 2014/2015. It'll be interesting just by how much when we see the next accounts.
Back before Anton came in and nearly ruined us, we had an annual black hole which frustrated many of the supporters, needing to sell a top player each summer just to keep us in the black. That black hole must now be double, or greater, than back then, plus we now have to find approx. £2.5m a season to keep the Cat 1 Academy going.
It all looks very bleak unless this club can get back into the Premier League, and even then, we'd have to perform miracles on a frugal budget to start paying off that debt, and try and maintain Premiership status (which we've tried and failed at twice before through being tight-fisted).
The Thai's have also made it clear that we need to be in the Premier League within a few years otherwise they'd have to cut their losses (I think that was Tiger a year or so ago. The article should be out there somewhere). Bare that in mind along with Royal Elm Park being built, and one of the clubs most sellable assets going, that would leave us needing a new owner with a much less attractive club to buy, and ever increasing debts. What were they last know to be?
Apologies for the apocalyptic theme.
* On a brighter note, and as I've mentioned previously, STAR have protected the stadium as an Asset of Community Value.
by One8Seven1* » 12 Sep 2016 13:30
by handbags_harris » 12 Sep 2016 13:41
One8Seven1* Madejski didn't cover the black holes. He loaned the club money, at a zero interest rate, and he received every penny back as well.
by Maneki Neko » 12 Sep 2016 14:10
One8Seven1* Madejski didn't cover the black holes. He loaned the club money, at a lower interest rate, and he received every penny back as well.
by Nameless » 12 Sep 2016 15:57
by Ian Royal » 13 Sep 2016 10:47
One8Seven1* Madejski didn't cover the black holes. He loaned the club money, at a lower interest rate, and he received every penny back as well.
by JamieY26 » 13 Sep 2016 11:07
by Maneki Neko » 13 Sep 2016 11:45
Ian RoyalOne8Seven1* Madejski didn't cover the black holes. He loaned the club money, at a lower interest rate, and he received every penny back as well.
Roughly. Which is covering the black hole.
Owners don't throw money away for free.
by Royalwaster » 13 Sep 2016 12:03
Maneki NekoIan RoyalOne8Seven1* Madejski didn't cover the black holes. He loaned the club money, at a lower interest rate, and he received every penny back as well.
Roughly. Which is covering the black hole.
Owners don't throw money away for free.
unless theyre ridiculously rich
or idiots
by Tony Le Mesmer » 13 Sep 2016 12:12
One8Seven1* Madejski didn't cover the black holes. He loaned the club money, at a lower interest rate, and he received every penny back as well.
by muirinho » 13 Sep 2016 12:17
Tony Le MesmerOne8Seven1* Madejski didn't cover the black holes. He loaned the club money, at a lower interest rate, and he received every penny back as well.
Stepping in to save the club when no one else would. Millions loaned to the club over 2 decades with the prospect of doing the lot, but maybe getting his money back if he played his cards right and things went very well. Guaranteed £30 odd mill out of his own pocket to build a stadium for your club. Crowds go up 5 fold and club succeeds beyond everything we hoped for. Then when he's not so rich, he's got the audacity to get his money back. What a b*stard, this is all his fault!
by Maneki Neko » 13 Sep 2016 13:56
by WAZZOCK » 13 Sep 2016 14:10
by Nameless » 13 Sep 2016 14:16
JamieY26 I fail to see how Royal Elm Park would make the club less attractive to buy.... I would much rather buy a club that is at the heart of a busy commercial and residential centre than one on a naff skirt of town with a muddy car park.
I am also under the impression that the contracts that were written up for the development included a clause that ensures Reading Football Club have a stake in the development going forward, regardless of the thai's owning the club. I remember reading something about it when the plans were on display.
by JamieY26 » 13 Sep 2016 14:40
NamelessJamieY26 I fail to see how Royal Elm Park would make the club less attractive to buy.... I would much rather buy a club that is at the heart of a busy commercial and residential centre than one on a naff skirt of town with a muddy car park.
I am also under the impression that the contracts that were written up for the development included a clause that ensures Reading Football Club have a stake in the development going forward, regardless of the thai's owning the club. I remember reading something about it when the plans were on display.
REP is being built by a company part owned by the Thais and part by RFC. SO THEORETICALLY RFC stands to benefit hugely.
But RFC is also owned by the Thais so they COULD pile all the costs into the RFC side and all the profits into the non RFC side.
I don't think this would happen, but as they own the club and the 18 companies associated with it they can do what they want.
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