SJM staying on as chairman

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winchester_royal
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Re: SJM staying on as chairman

by winchester_royal » 16 Oct 2013 20:19

Victor Meldrew
winchester_royal
Victor Meldrew At the Mad Man's age now 2 years is a very long time and to commit himself to a project that he appeared to want to cash-in on last year to pursue other things makes me think that all is definitely not right at our club.


Please explain this logic to me :lol:


Writing as somebody fairly near to JM's age I saw it that after 20 years of involvement in a sport that he is not greatly interested in (by his own admission) he thought his role had reached an end.
He had done his significant bit in saving the club, helped it achieve a more lofty status than any of us might have dreamed of, gained a knighthood and it was now time (last year) to cash-in on the loans that he had made to protect his investment and who could blame him for sailing off into the sunset and sit peacefully looking at the cars he loves so much?-to do that it made sense to continue for just 18 months to ensure some stability at the club but no longer have the ultimate responsibility.

Sadly for him it looks as though the man with deep pockets hasn''t got deep pockets so JM ,still very keen to get the rest of the money,feels that he must remain (Sir) Johnny-on-the-spot and not be at arm's length to do what he can to get his dough.
He is an old bloke and I feel sure that there are other things that he would like to do while he can and having had a taste of retirement from the responsibilities of club ownership the last thing he might want is to carry on the chairmanship for a further 2 years with his co-owner having such little impact on the running of the business.


You don't think the fact that the only reason Sir John is able to stay on is because AZ asked him to kinda puts an end to your theory?

It's not being a chairman is a particularly strenuous role to play. He turns up for the odd photo-shoot and provides the occasional media sound bite and otherwise offers as a decent visual figurehead for the board.

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Re: SJM staying on as chairman

by Man Friday » 16 Oct 2013 20:31

Royal Monk Christ you mongtards have to turn every bit of media information into a negative spin.
Get a grip you depressing bunch of jizz monkeys.

F uck off you naïve disability-phobic, simple tw@t. Get some good 'ol English cynicism inside you - it's what's made this country great and stopped us voting for people like Palin in America.

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Re: SJM staying on as chairman

by handbags_harris » 16 Oct 2013 20:38

This just smacks completely of alarm bells really. The fact that the full takeover hasn't occurred, and now SJM is to stay on as Chairman for another two years "at AZ's request", well it can only point to one consistent message I keep hearing - TSI doesn't have the money.

With regards the AZ request, well we all know RFC is one massive spin-machine. Pure speculation, and I refuse to hanker on every word the club spouts, but I would suggest that SJM has demanded he stay on as Chairman and has probably legally backed TSI into a corner. After all, if TSI renege on their deal, SJM has their arses over a blue and white hooped barrel.

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Re: SJM staying on as chairman

by winchester_royal » 16 Oct 2013 20:41

handbags_harris This just smacks completely of alarm bells really. The fact that the full takeover hasn't occurred, and now SJM is to stay on as Chairman for another two years "at AZ's request", well it can only point to one consistent message I keep hearing - TSI doesn't have the money.

With regards the AZ request, well we all know RFC is one massive spin-machine. Pure speculation, and I refuse to hanker on every word the club spouts, but I would suggest that SJM has demanded he stay on as Chairman and has probably legally backed TSI into a corner. After all, if TSI renege on their deal, SJM has their arses over a blue and white hooped barrel.


You may be right, though there is nothing concrete to suggest you are. SJM doesn't sound like a guy wrapped up in a bitter legal dispute.

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Re: SJM staying on as chairman

by Norfolk Royal » 16 Oct 2013 20:45

handbags_harris This just smacks completely of alarm bells really. The fact that the full takeover hasn't occurred, and now SJM is to stay on as Chairman for another two years "at AZ's request", well it can only point to one consistent message I keep hearing - TSI doesn't have the money.

With regards the AZ request, well we all know RFC is one massive spin-machine. Pure speculation, and I refuse to hanker on every word the club spouts, but I would suggest that SJM has demanded he stay on as Chairman and has probably legally backed TSI into a corner. After all, if TSI renege on their deal, SJM has their arses over a blue and white hooped barrel.


How can SJM demand he stay on as chairman if he doesn't have a majority shareholding in the club?

For the same reason you couldn't reasonably conclude that SJM has their arses over a blue and white hooped barrel, notwithstanding the written agreements which may or may not be relevant.


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Re: SJM staying on as chairman

by winchester_royal » 16 Oct 2013 20:48

Plus I'm not sure how being Chairman would make any impact on when he gets 'his' money. It's a figurehead position, all important decisions are made by the board/majority shareholder.

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Re: SJM staying on as chairman

by Cypry » 16 Oct 2013 20:53

I do wonder if there's a link to the announcement about the training ground today....

Perhaps things have moved quicker than expected, perhaps the costs are higher (I can't think what it must be expected to cost buying 120 acres of land in the heart of the Thames Valley, let alone building 15 pitches - given that they're talking about relocating both first team, and academy, one assumes that at least one floodlit 3G pitch as per the one at the dome will be needed which is a even figure sum on its own - indoor playing facilities, plus all of the associated infrastructure. You have to be talking north of ten million, probably a lot more....

It could just be that the available money is being sunk into that, rather than completing the takeover, and if SJM is in no rush for cash, he's happy to wait.....

I'm in no way ITK on this, but to me, this theory would hold as much, if not more, water than some of the conspiracy theories doing the rounds.....

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Re: SJM staying on as chairman

by Victor Meldrew » 16 Oct 2013 20:58

winchester_royal Plus I'm not sure how being Chairman would make any impact on when he gets 'his' money. It's a figurehead position, all important decisions are made by the board/majority shareholder.


You still have a fair old say with a 49% holding and we don't know the terms of the unfulfilled sale contract-my informant told me that there was a condition that the 51% could be bought back by JM for £1 if the balance were not paid by that date in September but he was only going by what he was told so although he was convinced because it came from somebody involved with JM's financial affairs it could of course still be just Chinese Whispers.

BTW is ours still "a well-run club" ,the expression so often used on here over the years?

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Re: SJM staying on as chairman

by winchester_royal » 16 Oct 2013 20:59

Cypry I do wonder if there's a link to the announcement about the training ground today....

Perhaps things have moved quicker than expected, perhaps the costs are higher (I can't think what it must be expected to cost buying 120 acres of land in the heart of the Thames Valley, let alone building 15 pitches - given that they're talking about relocating both first team, and academy, one assumes that at least one floodlit 3G pitch as per the one at the dome will be needed which is a even figure sum on its own - indoor playing facilities, plus all of the associated infrastructure. You have to be talking north of ten million, probably a lot more....

It could just be that the available money is being sunk into that, rather than completing the takeover, and if SJM is in no rush for cash, he's happy to wait.....

I'm in no way ITK on this, but to me, this theory would hold as much, if not more, water than some of the conspiracy theories doing the rounds.....


Either way, the club would not be pressing ahead with such a (as you rightly point out) costly venture if there was even the slightest whiff of financial trouble ahead.

At the end of the day, regardless of how much AZ owns of the club, we'll be continuing to operate as a business. We spend what we bring in, that's how we've been told the club will be run even if/when AZ has full control. There really is no rush, and SJM sounded like a man who realises just that on the radio.

Unfortunately there are quite a few RFC fans who know very little about economics trying to draw their own conclusions from snippets on the internet and as such a number of conspiracy are doing the rounds as 'local gossip'. Fact of the matter is that there are a very select few who know the ins & outs and certainly won't be sharing such delicate info on Hobnob.


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Re: SJM staying on as chairman

by winchester_royal » 16 Oct 2013 21:00

Victor Meldrew
winchester_royal Plus I'm not sure how being Chairman would make any impact on when he gets 'his' money. It's a figurehead position, all important decisions are made by the board/majority shareholder.


You still have a fair old say with a 49% holding and we don't know the terms of the unfulfilled sale contract-my informant told me that there was a condition that the 51% could be bought back by JM for £1 if the balance were not paid by that date in September but he was only going by what he was told so although he was convinced because it came from somebody involved with JM's financial affairs it could of course still be just Chinese Whispers.

BTW is ours still "a well-run club" ,the expression so often used on here over the years?


Well exactly - so why would he need to 'force' himself into a role as Chairman in order to get his money back? Which is what your theory seems to be based on.

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Re: SJM staying on as chairman

by Norfolk Royal » 16 Oct 2013 21:02

Victor Meldrew
winchester_royal Plus I'm not sure how being Chairman would make any impact on when he gets 'his' money. It's a figurehead position, all important decisions are made by the board/majority shareholder.


You still have a fair old say with a 49% holding and we don't know the terms of the unfulfilled sale contract-my informant told me that there was a condition that the 51% could be bought back by JM for £1 if the balance were not paid by that date in September but he was only going by what he was told so although he was convinced because it came from somebody involved with JM's financial affairs it could of course still be just Chinese Whispers.

BTW is ours still "a well-run club" ,the expression so often used on here over the years?


'A fair old say' is not the same as being in a position whereby you can demand that certain things happen.

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Re: SJM staying on as chairman

by AthleticoSpizz » 16 Oct 2013 21:02

Was talking to JM whilst he cleaned his Bentley at the Morrisons jetwash today.

When questioned about the delay, he just advised me to read the posts on HNA.

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Re: SJM staying on as chairman

by handbags_harris » 16 Oct 2013 21:10

Norfolk Royal
handbags_harris This just smacks completely of alarm bells really. The fact that the full takeover hasn't occurred, and now SJM is to stay on as Chairman for another two years "at AZ's request", well it can only point to one consistent message I keep hearing - TSI doesn't have the money.

With regards the AZ request, well we all know RFC is one massive spin-machine. Pure speculation, and I refuse to hanker on every word the club spouts, but I would suggest that SJM has demanded he stay on as Chairman and has probably legally backed TSI into a corner. After all, if TSI renege on their deal, SJM has their arses over a blue and white hooped barrel.


How can SJM demand he stay on as chairman if he doesn't have a majority shareholding in the club?

For the same reason you couldn't reasonably conclude that SJM has their arses over a blue and white hooped barrel, notwithstanding the written agreements which may or may not be relevant.


"Demand" is probably the wrong word - I would imagine it's written in the takeover documents that he stays on as Chairman until he sells all of his shares, and I would suggest that he insisted that clause was inserted. By that token, he has TSI's arses over a barrel because while he is Chairman he still has a say in how the club is run and has the option to go legal should relations reach an irrevocably low point. It is either that, or this could be a mutual agreement with both parties showing a united front in the face of the first stage of TSI's exit strategy.

I nailed my colours to the mast some days ago on this, and it will come as no surprise to some that this announcement just adds to the level of cynicism and contempt I hold TSI in.


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Re: SJM staying on as chairman

by winchester_royal » 16 Oct 2013 21:19

We haven't set a date in stone because a date was mentioned last time and it all got a bit out of focus.


Personally I just don't believe Sir John would be saying stuff like this^

We're entering a very exciting period of time


Or this^ if things were that bad. He doesn't like playing things out in the media and if this was all part of some powerplay he wouldn't have gone public.

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Re: SJM staying on as chairman

by Struggle Pig » 16 Oct 2013 21:28

Telephone transcript from 6 weeks ago:

AZ: Hey up John how's it going?
SJM: yeah not bad, getting another portrait done of myself. Good times.
AZ: Cool. About that deadline to buy that 49%, do you mind if we delay that?
SJM: yeah, but why?

AZ: Well, because I am spending money elsewhere first. cat 1 status, the new signings wages, the restructuring around the whole club, renovating behind the scenes, the initial branding of "The Royals" into a marketing brand, oh yeah and I'm going to spend on the buying of bearwood in Wokingham and the building of new training facilities and it is going to set me back (a crap load of money) millions and millions of pounds, and i think getting this initial and important phase of the club sorted, so that we are set up correctly, is more important than giving you the money now, just so that the club is good for the future. I'll pay you your money, but let's give it a while so that I can do this owning a football club thing correctly.

SJM: Good thinking, I'm fine with that. Catch ya on the flip side my Russian brother from another mother.

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Re: SJM staying on as chairman

by AthleticoSpizz » 16 Oct 2013 21:31

^ Hi Anton

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Re: SJM staying on as chairman

by Royal Monk » 16 Oct 2013 21:32

Fcuk off. People are concerned for the club they support, some of them have seen Reading Football Club put in danger before and don't want to see the club in trouble again nothing wrong with asking questions whether you like it or not.


Sandman your the n0.1 jizz monkey panic stations mongtard .... just read the statements and take in what they say , dont make things up you doom monger

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Re: SJM staying on as chairman

by AthleticoSpizz » 16 Oct 2013 21:34

Harbinger of doom

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Re: SJM staying on as chairman

by From Despair To Where? » 16 Oct 2013 21:40

So let me get this right. Last week we were pissed off because the club were telling us nothing, this week we are pissed off because the club are not telling us what we want to hear.

If one of my customers phoned up my MD at work and asked him for in depth details of the board's projected investment plan for the next 5 years he'd either say nothing or politely tell them to oxf*rd off.
Last edited by From Despair To Where? on 16 Oct 2013 21:45, edited 2 times in total.

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Re: SJM staying on as chairman

by Cobi » 16 Oct 2013 21:42

Royal Monk
Fcuk off. People are concerned for the club they support, some of them have seen Reading Football Club put in danger before and don't want to see the club in trouble again nothing wrong with asking questions whether you like it or not.


Sandman your the n0.1 jizz monkey panic stations mongtard .... just read the statements and take in what they say , dont make things up you doom monger


because everything the football club tells you is true, right?

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