Confimred new owners of Raeding Footbal Club

[Yellowcoat]

Except some of the loans were converted to shares over the years of loss making.

[PieEater]

It would be have been good if the press announcement had some details about these unknown people. Even is it's as vague as Narin Niruttinanon has a food/tuna empire and Sumrith Thanakarnjanasuth is a property developer.

My worry is that there are 4 of them and they aren't _that_ rich.

[Royalwaster]

It would be have been good if the press announcement had some details about these unknown people. Even is it's as vague as Narin Niruttinanon has a food/tuna empire and Sumrith Thanakarnjanasuth is a property developer.

My worry is that there are 4 of them and they aren't _that_ rich.

Not sure whether 'being rich' is what we're after - we want people who invest in our team wisely and not some idiots who blow millions of pounds on it. So, owners who are not afraid of some moderate losses but generally want to move us in the right direction are OK for me.

[Norfolk Royal]

It would be have been good if the press announcement had some details about these unknown people. Even is it's as vague as Narin Niruttinanon has a food/tuna empire and Sumrith Thanakarnjanasuth is a property developer.

My worry is that there are 4 of them and they aren't _that_ rich.

Agreed. They would have added mayonnaise to the tuna if they were serious about it.

[Martin41]

good news !!! one way we going up to premiership

Let's not get carried away now!!

[From Despair To Where?]

And there we have it. The big anouncement made with very little fanfare. I supppse with it dragging on for so long the main emotion is relief.

I'm quite happy to see us move forward with sensible investment in the right areas. For me that would entail cementing the commitment to Cat 1 and allowing Adkins to build the squad brick by brick by backing his judgement on realistic signings. No Drenthe or Pog signings but no return to the days of missing out on a player for the want of £500,000 in transfer fee or £2,000 a week in wages.

[JC]

Interesting is this article from the Bangkok Post

http://www.bangkokpost.com/most-recent/433305/

It says that the third tranche (25%) is held by our old friend Samrit with no mention of Sumrith Thanakarnjanasuth. I wonder why?

[maffff]

Maybe he has multiple names. He's still on the scene, anyway.

[RoyalBlue]

Except some of the loans were converted to shares over the years of loss making.

51% of which were sold for what AZ paid as the first installment and the remaining 49% for whatever the Thais paid. In addition, account should really be taken for the commercial rate for naming rights of the stadium since we have been there, as the club could have had that additional income had JM not taken it for free as part of his 'ownership rights'.

[SPARTA]

Our new owners have arrived at Hillsborough and caused the Wednesday fans to speculate that they're their new owners in waiting lol.

[Ian Royal]

Except some of the loans were converted to shares over the years of loss making.

51% of which were sold for what AZ paid as the first installment and the remaining 49% for whatever the Thais paid. In addition, account should really be taken for the commercial rate for naming rights of the stadium since we have been there, as the club could have had that additional income had JM not taken it for free as part of his 'ownership rights'.

You don't think its fair he got that for paying for building much of the stadium?

Change your record.

[Royal Rother]

If he hadn't put money into the club but had it sitting in some nice investment account somewhere I wonder how much income he'd have had....

Still, he's had a helluva lot of good times through RFC so counting the financial loss would be a little

[Silver Fox]

Except some of the loans were converted to shares over the years of loss making.

51% of which were sold for what AZ paid as the first installment and the remaining 49% for whatever the Thais paid. In addition, account should really be taken for the commercial rate for naming rights of the stadium since we have been there, as the club could have had that additional income had JM not taken it for free as part of his 'ownership rights'.

How does that affect the losses SJM has made?

[UpThePrem]

Seems Sumrith Thanakarnjanasuth is another developer:

https://sg.finance.yahoo.com/news/estat ... 06185.html

and director of UNIVERSAL FICO LTD

Not sure if its the same person but a Narin Niruttinanon is the deputy general manager of Thai Union Manufacturing Co. I guess that could be another person though.

[WAZZOCK]

January 20th 2012

Reading announce partnership with TSI -

January 21st 2012

Reading 0-1 Hull City

April 2012

Promotion

September 19th 2014

Reading announce takeover from Thai consortium

September 20th 2014

Sheff Wed 1-0 Reading

April 2015

Promotion???!!???

DO YOU SEEEEEEEEE?

[tidus_mi2]

January 20th 2012

Reading announce partnership with TSI -

January 21st 2012

Reading 0-1 Hull City

April 2012

Promotion

September 19th 2014

Reading announce takeover from Thai consortium

September 20th 2014

Sheff Wed 1-0 Reading

April 2015

Promotion???!!???

DO YOU SEEEEEEEEE?

The sky is falling!

[RoyalBlue]

Except some of the loans were converted to shares over the years of loss making.

51% of which were sold for what AZ paid as the first installment and the remaining 49% for whatever the Thais paid. In addition, account should really be taken for the commercial rate for naming rights of the stadium since we have been there, as the club could have had that additional income had JM not taken it for free as part of his 'ownership rights'.

How does that affect the losses SJM has made?

It reduces them i.e. he talks about what he put in but not what he got back out. As others have said, the accounts don't really show how he could have mader a 50M loss. Someone pointed out that some of his loans were converted to shares and I pointed out that he subsequently sold those shares.

Even if he has lost 50M, given the period of time that he has been involved in the club that is not a massive portion of his overall wealth on an annual basis, particularly given what he has got back out of his involvement. He clearly loves being famous (unlikely to have happened without involvement with RFC or some other expensive past-time such as funding plenty of galleries and academies). I suspect that there are supporters who have spent a similar percentage of their wealth on RFC over the same period of time.

And unlike the average supporter, I am sure JM"s accountants will have ensured that any losses were handled in a highly tax efficient manner.

IMO JM would be more justified in pointing out the amount of his time that he has invested in/given to RFC. I do not like the man or what he stands for but would acknowledge the sigificant time contribution that he has made to the club.

[Harpers So Solid Crew]

RB what is it that you think JM stands for? Self made millionaire, new money, which means you dont really fit in with old money, RFC has been good for him.
He has enjoyed the ride, and deserves to.

I just doubt the figures he sometimes comes out with, especially when he still owns the Hotel, which used to always be packaged as the football clubs, he owns the current training ground, worth a lot when they build houses on it. It is not my concern I would just sometimes prefer less of the headline style interviews.
JM took this club to new heights, and for not much money, unlike other clubs, who either walked away from debts, Southampton, or still have massive debts to the current owner, Cardiff.

Also RB he has been selling his share and Antons share, and we have no figure of what the new owners have paid or taken on responsibility for yet, we may never know. Either way there wont have been much for JM in there.

[Yellowcoat]

In his hatred RB also ignores the low interest SJM charged on loans, compared to what RFC would have had to pay in the market place, whilst making losses over many years. Some of the loans were actually interest free, I believe, and other cases the interest accrued was not taken.

[Ian Royal]

In his hatred RB also ignores the low interest SJM charged on loans, compared to what RFC would have had to pay in the market place, whilst making losses over many years. Some of the loans were actualy interest free, I believe, and other cases the interest accrued was not taken.

It's as simple as RB doesn't like SJM and so will bash him at every opportunity he can get regardless of facts or reason.