Anton took money!!

[Forbury Lion]

I heard it on BBC Berks or at least part of it.

SJM said there were warning signs early on, There was a clause that mean't the club reverted back to SJM, However the club that reverted back to him was in debt to 3rd parties and SJM coughed up something like £1.6m to keep the club going and that the Thai's, without doubt saved the club. There were other interested parties the Russians were trying to sell to but they were not really the kind of people that we should have sold to.

I'll have to make an effort to listen to the whole thing.

[SCIAG]

Anton did very little positive for the club though,

Tbf he did finance our second promotion to the PL... in a manner of speaking.

In hindsight that wasn't really positive.

Stay down, lose Kebe, but Antonio doesn't leave and comes through. No Roberts, Pog, Drenthe Guthrie stealing a living.

And of course, most importantly, no Gunter.

No Southampton away, West Ham away, no McCleary, no Roberts, no Clarke cup run, no return of Sigurdsson (playing for
Spurs), no Carrico. No opportunity to see world class players like Aguero, Cazorla, or Bale at the Mad
Stad.

Losing Kebe and Federici to replace them with Antonio and McCarthy is an interesting alternative history though.

[Snowflake Royal]

Tbf he did finance our second promotion to the PL... in a manner of speaking.

In hindsight that wasn't really positive.

Stay down, lose Kebe, but Antonio doesn't leave and comes through. No Roberts, Pog, Drenthe Guthrie stealing a living.

And of course, most importantly, no Gunter.

No Southampton away, West Ham away, no McCleary, no Roberts, no Clarke cup run, no return of Sigurdsson (playing for
Spurs), no Carrico. No opportunity to see world class players like Aguero, Cazorla, or Bale at the Mad
Stad.

Losing Kebe and Federici to replace them with Antonio and McCarthy is an interesting alternative history though.

No Wigan, no Villa, etc.

[Hendo]

I heard it on BBC Berks or at least part of it.

SJM said there were warning signs early on, There was a clause that mean't the club reverted back to SJM, However the club that reverted back to him was in debt to 3rd parties and SJM coughed up something like £1.6m to keep the club going and that the Thai's, without doubt saved the club. There were other interested parties the Russians were trying to sell to but they were not really the kind of people that we should have sold to.

I'll have to make an effort to listen to the whole thing.

Do. I listened to it on the train on the way home from work last night and thought it was another excellent podcast.

I guess the next one might be Brian or a former key player - maybe Sidwell?

[royal_rumble]

The bit that made me chuckle was the club reverting to JM when he didn't want it.

Anton had bought 51% and then didn't cough up for the remaining shares in the two years, after which the shares reverted back to JM. But in the that time Anton had built up a massive debt, meaning JM suddenly owned a heavily indebted club

Like the club almost went out of business funny? Or the guy that tried to do the best for Reading got shafted funny?

[Forbury Lion]

I heard it on BBC Berks or at least part of it.

SJM said there were warning signs early on, There was a clause that mean't the club reverted back to SJM, However the club that reverted back to him was in debt to 3rd parties and SJM coughed up something like £1.6m to keep the club going and that the Thai's, without doubt saved the club. There were other interested parties the Russians were trying to sell to but they were not really the kind of people that we should have sold to.

I'll have to make an effort to listen to the whole thing.

Do. I listened to it on the train on the way home from work last night and thought it was another excellent podcast.

I guess the next one might be Brian or a former key player - maybe Sidwell?

Listned to the first 30 mins in the car this morning, initially Adie and SJM sounded really excited, then I realised it was playing at 1.5x normal speed!

Some interesting stuff, Talked about McGhee, Quin & Gooding, Pardew, Rogers, McDermott, Coppell.... Burns got a mention but no mention at all of Bullivant or indeed any of the post-Coppell managers, other than Stam who SJM rated but clearly felt McDermott should have remained in situ (as he said at the time).

Also he said Leicester away was the pinnacle for him when we achieved promotion, He was there thanks to his PA calling him while he was abroad and suggesting he might want to fly home because if we get a draw we're up.

[Franchise FC]

I heard it on BBC Berks or at least part of it.

SJM said there were warning signs early on, There was a clause that mean't the club reverted back to SJM, However the club that reverted back to him was in debt to 3rd parties and SJM coughed up something like £1.6m to keep the club going and that the Thai's, without doubt saved the club. There were other interested parties the Russians were trying to sell to but they were not really the kind of people that we should have sold to.

I'll have to make an effort to listen to the whole thing.

Do. I listened to it on the train on the way home from work last night and thought it was another excellent podcast.

I guess the next one might be Brian or a former key player - maybe Sidwell?

Listned to the first 30 mins in the car this morning, initially Adie and SJM sounded really excited, then I realised it was playing at 1.5x normal speed!

Some interesting stuff, Talked about McGhee, Quin & Gooding, Pardew, Rogers, McDermott, Coppell.... Burns got a mention but no mention at all of Bullivant or indeed any of the post-Coppell managers, other than Stam who SJM rated but clearly felt McDermott should have remained in situ (as he said at the time).

Also he said Leicester away was the pinnacle for him when we achieved promotion, He was there thanks to his PA calling him while he was abroad and suggesting he might want to fly home because if we get a draw we're up.

Almost right. A draw was never enough on it's own that day - it was the other clubs dropping points that put us up

[multisync1830]

The bit that made me chuckle was the club reverting to JM when he didn't want it.

Anton had bought 51% and then didn't cough up for the remaining shares in the two years, after which the shares reverted back to JM. But in the that time Anton had built up a massive debt, meaning JM suddenly owned a heavily indebted club

By pure chance I read the give back document at the time it was made. The offer was made and signed by antons father iirc.

[Nameless]

The bit that made me chuckle was the club reverting to JM when he didn't want it.

Anton had bought 51% and then didn't cough up for the remaining shares in the two years, after which the shares reverted back to JM. But in the that time Anton had built up a massive debt, meaning JM suddenly owned a heavily indebted club

By pure chance I read the give back document at the time it was made. The offer was made and signed by antons father iirc.

Well given he was the one funding the deal that would make sense. Also the one who eventually killed it. Almost as if he had a plan.....

[multisync1830]

The bit that made me chuckle was the club reverting to JM when he didn't want it.

Anton had bought 51% and then didn't cough up for the remaining shares in the two years, after which the shares reverted back to JM. But in the that time Anton had built up a massive debt, meaning JM suddenly owned a heavily indebted club

By pure chance I read the give back document at the time it was made. The offer was made and signed by antons father iirc.

Well given he was the one funding the deal that would make sense. Also the one who eventually killed it. Almost as if he had a plan.....

I have not heard the podcast yet but forbury makes it sound as if it was part of the original contract.
From memory anton went missing and at least 2 payment deadlines were missed. In the january Antons father then made the offer of a 6 months to pay up find another buyer or the shares returned in july..
But it was a wee while ago now

[Nameless]

By pure chance I read the give back document at the time it was made. The offer was made and signed by antons father iirc.

Well given he was the one funding the deal that would make sense. Also the one who eventually killed it. Almost as if he had a plan.....

I have not heard the podcast yet but forbury makes it sound as if it was part of the original contract.
From memory anton went missing and at least 2 payment deadlines were missed. In the january Antons father then made the offer of a 6 months to pay up find another buyer or the shares returned in july..
But it was a wee while ago now

Anton’s father was involved right from the start, it was always his money. As I understood it he put up the cash but Anton has to find other investors within 2 (?) years and when he failed his father refused to put any more backing in and it all fell apart. Presumably he thought ahead and protected himself with the buyback clause although why a multibillionaire was worried about a couple of million debt isn’t obvious !

[Snowflake Royal]

Well given he was the one funding the deal that would make sense. Also the one who eventually killed it. Almost as if he had a plan.....

I have not heard the podcast yet but forbury makes it sound as if it was part of the original contract.
From memory anton went missing and at least 2 payment deadlines were missed. In the january Antons father then made the offer of a 6 months to pay up find another buyer or the shares returned in july..
But it was a wee while ago now

Anton’s father was involved right from the start, it was always his money. As I understood it he put up the cash but Anton has to find other investors within 2 (?) years and when he failed his father refused to put any more backing in and it all fell apart. Presumably he thought ahead and protected himself with the buyback clause although why a multibillionaire was worried about a couple of million debt isn’t obvious !

Look after the millions and the billions look after themselves.

[3points]

Well given he was the one funding the deal that would make sense. Also the one who eventually killed it. Almost as if he had a plan.....

I have not heard the podcast yet but forbury makes it sound as if it was part of the original contract.
From memory anton went missing and at least 2 payment deadlines were missed. In the january Antons father then made the offer of a 6 months to pay up find another buyer or the shares returned in july..
But it was a wee while ago now

Anton’s father was involved right from the start, it was always his money. As I understood it he put up the cash but Anton has to find other investors within 2 (?) years and when he failed his father refused to put any more backing in and it all fell apart. Presumably he thought ahead and protected himself with the buyback clause although why a multibillionaire was worried about a couple of million debt isn’t obvious !

Yep, this was basically what I know as well. Anton wanted to prove to his dad what a good businessman he was. When Anton failed to find the cash for the remaining 49%, the shares reverted to SJM (as he noted, including all the debt he’d borrowed to fund the wages, etc). Daddie agreed with SJM to fund the trading losses throughout most of that season but that funding was going to end, hence we were close to administration and had to sell players (Alfie?). Restructuring (insolvency) specialists, Begbies Traynor, were in the club, effectively running it at this point on behalf of Vibrac, who was the secured lender at that time. The club got fined about £100k as Begbies we’re not approved to run the club (under the FIt & Proper persons test)

[lightning strikes]

Mischievous from the OP !
Anton ‘took’ money ? Suggesting it was illegal ?
Or he paid himself dividends, interest etc ?
SJM ‘took’ money out of the club too. He converted his loans into extra shares, which he eventually sold. He also had use of a very nice penthouse on top of the hotel which I’m guessing he didn’t pay market rates for.
Not knocking SJM at all, he saved the club, improved the club and his money/underwriting were crucial but if the suggestion is that he just gave the club money for no return whereas Anton took money out (legally) I’m not convinced, but I’m not sure either did anything wrong.
Anton did very little positive for the club though, would take SJM ahead of him every time. The Dai’s are starting to make a bid for best owner though...

Re: converting loans to shares. As he owned the whole club, all this would do is reduce the value of his shares, not increase his wealth. Or am I misunderstanding something?

[Nameless]

Mischievous from the OP !
Anton ‘took’ money ? Suggesting it was illegal ?
Or he paid himself dividends, interest etc ?
SJM ‘took’ money out of the club too. He converted his loans into extra shares, which he eventually sold. He also had use of a very nice penthouse on top of the hotel which I’m guessing he didn’t pay market rates for.
Not knocking SJM at all, he saved the club, improved the club and his money/underwriting were crucial but if the suggestion is that he just gave the club money for no return whereas Anton took money out (legally) I’m not convinced, but I’m not sure either did anything wrong.
Anton did very little positive for the club though, would take SJM ahead of him every time. The Dai’s are starting to make a bid for best owner though...

Re: converting loans to shares. As he owned the whole club, all this would do is reduce the value of his shares, not increase his wealth. Or am I misunderstanding something?

The main misconception is SJM Owned the whole club. For most of his tenure he didn’t. There were lots of small shareholders (including STAR) and converting loans to shares meant his % kept creeping up. Eventually the club was reconstituted and the ‘old’ RFC company was left as a shall and the shares owned by STAR ecbecame worthless and SJM owned 100% of the new company.

[RoyalBlue]

I heard it on BBC Berks or at least part of it.

SJM said there were warning signs early on, There was a clause that mean't the club reverted back to SJM, However the club that reverted back to him was in debt to 3rd parties and SJM coughed up something like £1.6m to keep the club going and that the Thai's, without doubt saved the club. There were other interested parties the Russians were trying to sell to but they were not really the kind of people that we should have sold to.

I'll have to make an effort to listen to the whole thing.

Do. I listened to it on the train on the way home from work last night and thought it was another excellent podcast.

I guess the next one might be Brian or a former key player - maybe Sidwell?

Listned to the first 30 mins in the car this morning, initially Adie and SJM sounded really excited, then I realised it was playing at 1.5x normal speed!

Some interesting stuff, Talked about McGhee, Quin & Gooding, Pardew, Rogers, McDermott, Coppell.... Burns got a mention but no mention at all of Bullivant or indeed any of the post-Coppell managers, other than Stam who SJM rated but clearly felt McDermott should have remained in situ (as he said at the time).

Also he said Leicester away was the pinnacle for him when we achieved promotion, He was there thanks to his PA calling him while he was abroad and suggesting he might want to fly home because if we get a draw we're up.

He needed his PA to keep an eye on the table/fixtures and work that out for him? He was/is a fan - I think every fan knew the permutations inside out that season!

[John Smith]

He needed his PA to keep an eye on the table/fixtures and work that out for him? He was/is a fan - I think every fan knew the permutations inside out that season!

Sounds like a lot of the so called "supporters" on here

[Mr Optimist]

Don't get my wrong I am as indebted to SJM as all Reading fans should be, but around that time I started to think he was properly losing it with his "me too" moment with Paloma Faith.

[Smithy]

Don't get my wrong I am as indebted to SJM as all Reading fans should be, but around that time I started to think he was properly losing it with his "me too" moment with Paloma Faith.

That's right trying to get in a boat at Henley festival .....cringe

[From Despair To Where?]

I thought the Paloma Faith incident was at some bash at a museum where he drunkenly got on stage and tried to hug her.