Reading and Admin

[Guinness Boy]

Perhaps Nadkins convinced the Reading board there was nothing to be worried about and they would bounce back straight away. Makes it even funnier if they decided to stick two fingers up to FFP.

At the start of the season they had parachute payments and Russian money hence signing Bridge, Drenthe and Pogrebnyak and keeping the likes of Le Fondre and Robson Kanu. As soon as the Russian money did one they landed back in the shit. This is EXACTLY why FFP is needed and why clubs should be sticking to it. It makes more business sense than the current Reading model. Of course it doesn't make that much sense. If my business "only" made a loss of £8 million this year I'd be sleeping in doorways with a bottle of meths.

 

[Ernest]

Always thought that young Russian 'investor' was bogus, another idiot who thought you couldn't get relegated from the Prem

 

[Blue Valkyrie]

Probably the ailing Sir John Madjeski again. If you want more detail the below is absolutely superb. You may also find yourself with even more gratitude to the Blooms once you have read it.

http://thetilehurstend.sbnation.com...679088/the-choices-of-readingfc-chairman-john

Sounds like Madjeski is almost at the point of being unable to keep pumping his money in without totally losing his fortune.

Admin surely looming.

 

[SI 4 BHA]

Probably the ailing Sir John Madjeski again. If you want more detail the below is absolutely superb. You may also find yourself with even more gratitude to the Blooms once you have read it.

http://thetilehurstend.sbnation.com...679088/the-choices-of-readingfc-chairman-john

That is a really interesting article and most of it could be written about BHA at the present. A club with some debt, a chairman funding infrastructure, tight control of finances by senior management, playing within their means. At Reading, eventually Madejski decided it was time to move on and hand over the club to someone with apparently deeper pockets and now it's gone pear shaped. God help us if Tony B decides to cash in his chips in a few years time and we get left with some dodgy Russian like Reading ended up with.

 

[Mr Smggles]

You say that like its always an ABD thing.

Corrected.

 

[Arthur]

Heard a rumour from a RFC season ticket holder last night that one of their creditors are seeking to place an admin order against RFC over an unpaid debt of circa £1 million. Absolutely no idea if this is true or not but thought I'd mention it in passing.

Reading fan text me on Saturday pre game and his exact words were "we're ****ed if we don't go up this year". So wouldn't surprise me if you are bang on.

 

[Kaiser_Soze]

He looked their only decent player in the cup game

Gareth Mcleary also looked very good that day.

 

[Dick Knights Mumm]

That is a really interesting article and most of it could be written about BHA at the present. A club with some debt, a chairman funding infrastructure, tight control of finances by senior management, playing within their means. At Reading, eventually Madejski decided it was time to move on and hand over the club to someone with apparently deeper pockets and now it's gone pear shaped. God help us if Tony B decides to cash in his chips in a few years time and we get left with some dodgy Russian like Reading ended up with.

We can only hope that Tony Bloom's pockets are deeper than those of Madjeski - and that his intended aim of passing the Club to his children will be fulfilled.

We start from a better place. Tony Bloom is actually a supporter of the club. Madjeski never was.

 

[Kaiser_Soze]

At the start of the season they had parachute payments and Russian money hence signing Bridge, Drenthe and Pogrebnyak and keeping the likes of Le Fondre and Robson Kanu. As soon as the Russian money did one they landed back in the shit. This is EXACTLY why FFP is needed and why clubs should be sticking to it. It makes more business sense than the current Reading model. Of course it doesn't make that much sense. If my business "only" made a loss of £8 million this year I'd be sleeping in doorways with a bottle of meths.

Not just FFP. This is where the Fit and Proper person test comes in. Maybe there needs to be conditions attached to investing in clubs so that you can't pull your money out within X time. It might guarantee stability from an investor.

 

[Barry Izbak]

It is not 20:20 hindsight because when there were stories like this in the papers, I laughed at Reading fans for believing it

http://www.dailymail.co.uk/sport/fo...sian-billionaire-owner-Anton-Zingarevich.html

And for every Reading you could find another similar story along the lines of "super rich new foreign owners promise to bring the good times back to .... Blackburn, Sheffield United / Wednesday, Portsmouth, Forest, Watford, Birmingham and of course Dirty Leeds" and the fans giving it large and shouting their mouths off.

If and when Tony Bloom hands over the club, I will hope and pray it goes to someone who knows Brighton and belongs at the Albion.

 

[readingstockport]

Reading the linked stories it actually looks quite dire for them. So possible 10 point penalty to start the season off and a weakened squad. Leading to falling season ticket sales and fewer on the day walk ups.

Perhaps now is the time for Reading to return to their true position or division 3/4.

 

[Triggaaar]

That is a really interesting article and most of it could be written about BHA at the present. A club with some debt, a chairman funding infrastructure, tight control of finances by senior management, playing within their means.

But the whole point on the article was how it went wrong. How the downfall was caused by selling to a foreign owner that has no interest in Reading, or any club below the premier league. Since that hasn't currently happened to us, the article doesn't apply to us at all. Hopefully Tony will be careful when choosing his successor.

 

[Dick Knights Mumm]

Hopefully Tony will be careful when choosing his successor.

Hopefully he has already chosen his successor.

 

[Triggaaar]

Hopefully he has already chosen his successor.

Hopefully he'll be in charge for another 30 years yet, so he won't need to be fully decided on his successor yet (even if it's family).

 

[Dick Knights Mumm]

Hopefully he'll be in charge for another 30 years yet, so he won't need to be fully decided on his successor yet (even if it's family).

Amen to that brother.

 

[WhingForPresident]

Reading fans rattled yet?

 

[Postman Pat]

This is causing me internal conflict. I do not want to laughing at the misfortune of others.

Football is such a joke.

Would you feel so conflicted if they were playing Derby tonight and not us?

 

[Mo Gosfield]

Always thought that young Russian 'investor' was bogus, another idiot who thought you couldn't get relegated from the Prem

He wanted the kudos of buying an English PL team. His father has the money, not Anton. He entered into negotiations to buy 51% of the football club from John Madjeski. Sir John was clever enough not to sell him any part of the hotel/conference facility attached to the club.
The old man was singularly unimpressed when learning of his son's acquisition ( particularly when he found out that the hotel and conferencing side was not part of the deal ) He then ' leant on ' Anton to gently persuade him to extract his rear portion out of Berkshire asap.
The due diligence seemed to take forever and this was perhaps an indication of how twitchy Sir John was about the deal from the start. It is clear that Boris has pulled the plug and left Sir John high and dry.

 

[Black Rod]

Didn't he buy the club several months before they were promoted?

 

[Triggaaar]

Would you feel so conflicted if they were playing Derby tonight and not us?

It would make me more inclined to support Derby. I like to see clubs do it the right way, not like Cardiff, Leicester, QPR, Forrest etc. But I still wouldn't want them to go under completely. And I'm sure they won't. Seeing them fall as far down the leagues as possible will do fine.