Mr Mad's financial travails

[strap]

No idea where to put this link, so stuck it here as it's probably just usual business practice.

However, Mr Mad clearly DOES have financial worries.

http://business.timesonline.co.uk/tol/business/industry_sectors/construction_and_property/article7128318.ece

[UpNorth]

Ouch!

Sound bad.

If Sackville folds his other interests, inlcuding Reading, might follow.

Can't expect JM to invest a bean in RFC for the foreseeable future.

[No Hoops]

"Rent from existing tennants broadly covers the interest payments"

Anyone who is anyone is trying to renegotiate loan terms.

The site now has planning permission which means it's worth is well over what was paid for it.

It's a £400M development, partners will always be needed.

Just a bit of free advertising for Sir John me thinks.

[ZacNaloen]

This is Theresa Mays fault for delaying planning permission isn't it?

[Messiah]

Also in Club Policies.

[Big Foot]

“We’re trying to keep jobs and we are doing the best we can. Hopefully, with a new Government, things will start looking up again.”

Tory Boy SJM, is he after "Lord" status now?

[Sun Tzu]

Ouch!

Sound bad.

If Sackville folds his other interests, inlcuding Reading, might follow.

Can't expect JM to invest a bean in RFC for the foreseeable future.

Not sure why RFC would fold, we're not dependent on him financially and aren;t connected to his other businesses. He also hasn't invested his cash in the club for several seasons has he ?

He was slated for his plan to make the club 'wash it's own face'. Seems like it was a pretty sensible aim !!

[Southbank Old Boy]

And what about the 20 odd million we still owe SJM????

If he was to get into serious trouble then he might need to claw a chunk of that back to support his other interests

I dont think it would happen, but to say the club isnt affected by his other businesses hitting tough times is a probably a bit of wishful thinking

[Urinal Mint]

And what about the 20 odd million we still owe SJM????

If he was to get into serious trouble then he might need to claw a chunk of that back to support his other interests

I dont think it would happen, but to say the club isnt affected by his other businesses hitting tough times is a probably a bit of wishful thinking

Do we still owe £20 odd million though? I thought a lot of the selling in the last 2 seasons was to also pay loans back that we owed him.

[Sun Tzu]

And what about the 20 odd million we still owe SJM????

If he was to get into serious trouble then he might need to claw a chunk of that back to support his other interests

I dont think it would happen, but to say the club isnt affected by his other businesses hitting tough times is a probably a bit of wishful thinking

If it isn't going to happen then doesn't that mean the club is unlikely to be affected ? I suspect we're saying the same thing in different ways !

I'm sure those who retain the full accounts in their head will confirm whether we do owe him that sort of money, and the terms on which we owe it, if we do. Some of the money from the sales went to pay back the bank overdraft and some to fund the day to day running of the club.

[Southbank Old Boy]

From what i remember people posting on here he hasnt really taken much of his loans back and so yes pretty sure he is still owed 20 odd million. Wast that the accusation thrown at him on here, that he was walking off with all the premiership money when in fact he hadnt touched it

It might be unlikely sun tzu, but you usually deal in facts and not just hunches when it suits your backing of the club, so thought it worth giving you a little reminder whilst you talked down to UpNorth

[Sun Tzu]

F

It might be unlikely sun tzu, but you usually deal in facts and not just hunches when it suits your backing of the club, so thought it worth giving you a little reminder whilst you talked down to UpNorth

Thanks for the 'talking down to'.

[Ian Royal]

He'd have to lose a hell of a lot to start plundering us.

He'd just be more likely to sell us to someone with fewer scrupples and for less cash, to get some wonga in his bank account.

[Harpers So Solid Crew]

I thought he had loans of around £8m to the club and over £15m to the Hotel.

[Hoop Blah]

Although I think it would be a bit naive or churlish to suggest that the football club isn't going to be effected by Madejski's other businesses performance I can't see it getting to the point where it would get close to folding.

It might mean he has to get rid of us for a lot less than he'd want to, or as someone else suggested to someone he might not otherwise sell to, and neither are a good proposition, but I can't see it meaning we'd fold.

As for the debts being split between the two, I can't recall the details of the loans but aren't they both held under the same holding company and so, ala Southampton, would still impact the football clubs operation and financial standing.

[brendywendy]

And what about the 20 odd million we still owe SJM????

If he was to get into serious trouble then he might need to claw a chunk of that back to support his other interests

I dont think it would happen, but to say the club isnt affected by his other businesses hitting tough times is a probably a bit of wishful thinking

Do we still owe £20 odd million though? I thought a lot of the selling in the last 2 seasons was to also pay loans back that we owed him.

at the last announcement no money had been taken back for those loans apart from nominal interest payments

not to say its not changed since then. its his money though