£23 million In ... £1.4 million Spent

[Dirk Gently]

Man City are screwed. Top 4 by the end of the season my arse. Don't make it the year after and I wouldn't expect the investors to be keen on hanging around.

What they've paid the money for is the place in the Premier League. They can replace everything else at the club to get what they want, but without the PL place none of what they want can come true. They can afford to just throw more and more money at it until they get what they want.

[Ian Royal]

Man City are screwed. Top 4 by the end of the season my arse. Don't make it the year after and I wouldn't expect the investors to be keen on hanging around.

What they've paid the money for is the place in the Premier League. They can replace everything else at the club to get what they want, but without the PL place none of what they want can come true. They can afford to just throw more and more money at it until they get what they want.

I'll believe it when I see it. If you're right the whole world is going mad.

[Stranded]

The Arab lot are a whole different kettle of fish to any other investor to date.

The amount of money it would take to turn Man City into the Worlds biggest club pretty much equal a month's interest on their bank account.

[Seaside Royal]

Whilst I can understand the concern of fans who don't like this round of asset stripping, I think it was always an inevitable consequence of relegation. Like it or not, we will have to rebuild a new side of young, hungry and cheap players, to get us back there. This is the Reading way.

and one of the reasons I've always supported Reading and not the likes of Man U .. the Reading way suits me fine.

[Arnie_Pie]

2007 Accounts -

http://rapidshare.com/files/142123743/b ... 1.pdf.html

Lets see some of you try and decipher these.

[Y25]

Not selling Doyle and Hunt was like signing 2 players for £10M

(I was waiting for Reading to say something of the like

[Franchise FC]

2007 Accounts -

http://rapidshare.com/files/142123743/b ... 1.pdf.html

Lets see some of you try and decipher these.

What is it you want to know ?

That the profit for 2007 only served to negate the loss for 2006
That the cumulative losses of the company are still an astonishing £23m
That without the cash from Mad John we'd have been dead and buried long ago
That the staff costs rose by £16m from the Championship year to the first year in the Prem
That the bank loan was paid down by £7m

Maybe some of those explain where the money has gone.

p.s. What is amazing is that the matchday staff seems to have dropped from 191 in 2006 to 163 in 2007

[Royal Monk]

Mr Mad is clever , he seems to be the director of nearly every company that RFC deals with. By using these companies he is actually making money out of RFC if you see what i mean

[Ian Royal]

Mr Mad is clever , he seems to be the director of nearly every company that RFC deals with. By using these companies he is actually making money out of RFC if you see what i mean

Which companies are those?

[Franchise FC]

Mr Mad is clever , he seems to be the director of nearly every company that RFC deals with. By using these companies he is actually making money out of RFC if you see what i mean

OK ..... Let me explain
The interest quoted has been added to the accrued interest from 2006 - this means that it hasn't been paid to him, but is still owed to him (at least at the end of 2007)

The amounts transacted with other companies that he is a director of where the Club PAID money was a total of £63,000
The amounts transacted with other companies that he is a diorector of where the Club RECEIVED money was a total of £97,000
If any company is being fleeced, it's the others not the football club

[Royal With Cheese]

thats like saying the people basing their conspiracy theorys about the moonlandings are right, because of the lack of hard facts eminating from the moon.

If the moon were a football club run by John Madejski then you'd be spot on.

[savage 4 england]

Mr Mad is clever , he seems to be the director of nearly every company that RFC deals with. By using these companies he is actually making money out of RFC if you see what i mean

Which companies are those?

Cork City FC and formerly Brentford FC

[Royal Monk]

I didnt say anyone was being fleeced , i didnt say it was huge amounts of money all i said was he was clever by doing this.
It doesnt matter who paid who , the fact is which ever way the money goes it ends up at Mr Mads

[Arnie_Pie]

2007 Accounts -

http://rapidshare.com/files/142123743/b ... 1.pdf.html

Lets see some of you try and decipher these.

What is it you want to know ?

That the profit for 2007 only served to negate the loss for 2006
That the cumulative losses of the company are still an astonishing £23m
That without the cash from Mad John we'd have been dead and buried long ago
That the staff costs rose by £16m from the Championship year to the first year in the Prem
That the bank loan was paid down by £7m

Maybe some of those explain where the money has gone.

p.s. What is amazing is that the matchday staff seems to have dropped from 191 in 2006 to 163 in 2007

Oh I can read accounts I spent 10 years as a business manager for a bank.

You hit the nail on the head really. There are no millions floating about so all the whiners can shut up and stop going on about something they have no idea of

[Franchise FC]

Oh I can read accounts I spent 10 years as a business manager for a bank.

You hit the nail on the head really. There are no millions floating about so all the whiners can shut up and stop going on about something they have no idea of

If I were to be unkind I could suggest that being a business manager in a bank gives no room for complacency - look where the banks have got us !!

[Schards#2]

Ok, for the ignorant among us, can someone explain, in layman's terms, where the money has gone if, in fact, it ever existed.

Over the past three seasons or transfer fees in/out have been broadly neutral

Our income increased by £30 million odd for two years

Our wageroll increased by about £12 million

We don't appear to have "cut our cloth" in the Premeirship where we didn't spend large sums on players and were reported to have the lowest wage bill, however, as soon as we are relegated, we have to slash the wage bill, reduce the squad and retain £10m from transfer fees in order to be viable.

I'm not saying any one's been fleeced or anyone has done anything untoward. If, in some roundabout way, Mr Madejski has recouped some of his outlay, that's fine.

I'd just like someone to explain to me where where the money has gone as it's not clear from the accounts. Or maybe everyone in english football is wrong about the money in the Premiership with the sole exception of Reading FC.

Not being prevocative, would just like some clear answers.

[brendywendy]

i cant explain it for last season till the accounts come out, and my analysis of the existing accounts could admittedly be more expert.

but it does show that even with the massive increase in cash from TV, prize money, and ticket prices in that first season, our increased outgoings ate nearly all of that up, leaving us with only 6M profit(only enough to cover the previous years loss)

admittedly in the second year there was another big increase in the television revenue to account for-taking it to 30M(it was significantly less in the 1st year), and while further pay increases for players like doyle/hunt,would have upped the wage bill i cant see it being by that much.

but add considerable fees(though not as high as some would like)for new players such as bikey, marek, fae( ) etc then the media centre, and training ground costs which must add up to millions, and you can start to see where alot of it has gone.
though not all.
that will have to wait till the accounts, and i agree it would have been nice if madejski was taking money back from the club that he would let us know, but maybe he just isnt.

if we go to this year, weve decreased ticket prices, as well as bringing fewer numbers through the gates, and wages havent gone back down to the level they were at previously(+8/9M dirk said),on top of 7M being recalled in debt by the bank, so it stands to reason that some of this will be "payed for" by the player sales totalling 10+M,
the remainder will come out of the 11 M parachute payment-this is in lieu of the 30+M TV/prize money i think, and this is why mr mad described it as losing 22m.

its not a complete picture, and alot of this and last year is pieced together from disparate sources,and may be misremembered, but it does show where alot of it went at least
ill admit ill be very interested to see when the 2nd years accounts come out exactly what profit we made, and if mr mad took any back in terms of what we owe him.

[PlasticRoyale]

All very well, but do i boo JM at home games or not? I just want to follow the mob so no form of reasoned arguments please

[brendywendy]

All very well, but do i boo JM at home games or not? I just want to follow the mob so no form of reasoned arguments please

sorry!


no is my answer, but then i would say that wouldnt i

id flip a coin

or just follow the mob like you said.

[Royal Monk]

From what i can make of it Mr Mad owns the training ground and charges RFC £18,000 per year rent for it