John Madjeski....

A1ndy
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John Madjeski....

by A1ndy » 13 Jul 2006 16:19

After 16 years with Madejski at the helm, the Royals have reached the top flight for the first time in their history.

But while the fans, manager Steve Coppell and the players are eagerly counting down the days until a historic first fixture, Madejski is searching for a buyer so he can exit as soon as possible.

And his reasons for wanting to snub the Premiership party are purely financial, he explained, with Roman Abramovich's bankrolling of Chelsea setting the pattern according to Madejski.

He said: "After the ITV Digital debacle, when money that was going to be paid to the clubs suddenly wasn't forthcoming, wages started becoming more normal.

"But then enter the theatre Mr Abramovich and it all started going up again.

"Naively I thought that when we got to the Premiership, we would be able to balance the books but it's becoming all too apparent to me how costly it will be.

"The whole thing is ratcheted up with agents and it's obscene that everything is so darned expensive.

"If only we could just get back to playing old-fashioned football, with people who want to play football and are not just interested in having a bigger car or a bigger house and more and more money.

"It's just horrible. Clubs outside the big six are hardly surviving. They are all running at a loss and it's all wrong.

"I would love to stay but I just don't think I can afford to.

"I actually don't blame the players but I do blame people who are in a position to stop this tendency to pay more and more and more, which makes it all so terribly unhappy.

"There are a lot of people in football who have no pecuniary interests in football but are quite prepared to spend other people's money."

Madejski did not rule out selling to a Russian, however, although he felt Abramovich's antics made it more likely that a new buyer would emerge from elsewhere, with the Far East a possibility.

He said: "I would sell to a Russian but I think a lot of them have been put off by Abramovich because they don't see any point in competing with him.

"There are plenty of very wealthy Irish people these days and then there is the Far East. The future is the east - I know because I lived out in Malaysia at the end of the last decade.

"In fact, I wouldn't be at all surprised if the next Reading chairman was from the Far East."

So far, the Royals' purchases have been modest as although South Korea midfielder Seol Ki-Hyeon was a club record purchase from Wolves, a third of his £1.5million fee is dependent on appearances.

Similarly, the amount agreed for Brentford defender Sam Sodje will not break the bank as it can rise from £350,000 to a ceiling of £500,000.

Madejski said: "We are already in debt and we have to bring the club forward without putting it in jeopardy. What we don't want is a honeymoon period in the Premiership and then sinking into oblivion.

"We need to be incredibly prudent in terms of who we buy, what we buy and how we buy. It's a very difficult game we are playing."

The club's debt currently stands at £10million.

Never knew the club was in that amount of debt, did anyone else?

Views please...?

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Re: John Madjeski....

by Finch Royal » 13 Jul 2006 16:21

A1ndy with people who want to play football and are not just interested in having a bigger car or a bigger house and more and more money.


nICE ONE jOHNNY BOY, IT'S NOT LIKE YOU MONEY MOTIVATED IS IT :lol:

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by SpaceCruiser » 13 Jul 2006 16:22

Where is this article from? You should always say where you got it from.

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Re: John Madjeski....

by A1ndy » 13 Jul 2006 16:22

Finch Royal
A1ndy with people who want to play football and are not just interested in having a bigger car or a bigger house and more and more money.


nICE ONE jOHNNY BOY, IT'S NOT LIKE YOU MONEY MOTIVATED IS IT :lol:


Yeah I mean for example, him changing his car every week so you can see it through the window in his bathroom, enough said...on the money issue!

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by A1ndy » 13 Jul 2006 16:24

SpaceCruiser Where is this article from? You should always say where you got it from.


Teamtalk.com mate.


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by Only one Trevor Morley » 13 Jul 2006 16:33

Very interesting article - this shows how how it costs to be a premiership side - if someone like Madjeski is worried about the costs then that says a lot.

We have to be prudent - all we can do is try and model oursleves on Charlton and Bolton and hope that we can establish ourselves. If we get a rich person from the Far East etc then thats all good - but for now we have to live within our means - as it doesnt seem that Madjeski will be here forever....

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Re: John Madjeski....

by West Stand Man » 13 Jul 2006 16:35

Finch Royal
A1ndy with people who want to play football and are not just interested in having a bigger car or a bigger house and more and more money.


nICE ONE jOHNNY BOY, IT'S NOT LIKE YOU MONEY MOTIVATED IS IT :lol:


Neither are you intellectually motivated by the look of things.

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by Gordons Cumming » 13 Jul 2006 16:36

The writing is on the wall.

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by Only one Trevor Morley » 13 Jul 2006 16:39

"I would love to stay but I just don't think I can afford to.

This is the most concerning comment - will he jump ship before a new owner is found?


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by Chicken Balti Pie » 13 Jul 2006 16:47

Old News surely ?

We have had this presented in many guises over the last 6 months.

:roll:

Don't care what he does from here. Club is financially sound now compared to daily losses in the £k region 16 years ago.

Thanks John

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by R3AD1NG » 13 Jul 2006 17:06

I have just been on the http://www.newsnow.co.uk which collects information from lots of different sources and there are quite alot of websites talking about madjeski quitting and selling up

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by Only one Trevor Morley » 13 Jul 2006 17:26

Chicken Balti Pie Old News surely ?

We have had this presented in many guises over the last 6 months.

:roll:

Don't care what he does from here. Club is financially sound now compared to daily losses in the £k region 16 years ago.

Thanks John


No I dont think so - the urgency that Madjeski wants to quit seems to have increased

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Re: John Madjeski....

by Finch Royal » 13 Jul 2006 17:29

West Stand Man
Finch Royal
A1ndy with people who want to play football and are not just interested in having a bigger car or a bigger house and more and more money.


nICE ONE jOHNNY BOY, IT'S NOT LIKE YOU MONEY MOTIVATED IS IT :lol:


Neither are you intellectually motivated by the look of things.


tOGGLE CASE MATE, tOGGLE CASE. :lol:


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by strap » 13 Jul 2006 17:30

http://www.sportinglife.com/football/news/story_get.cgi?STORY_NAME=soccer/06/07/13/SOCCER_Column.html

The above link is also worth a read.

Whilst not wishing to put a downer on anything or anyone, let's not forget that Mr Mad has only loaned the club the money. All these stories of him pumping £40M into the club are true, but it's not as though he's gifted it! It's all in the annual accounts, (oh, and the RoyalMail lists of the mid to late 90's, where I made a number of enemies for pointing out exactly the same thing!)

I recall then I made the point that he was a businessman, not a sugar-daddy. Fair play to him for everything he's done for RFC and us, but please, don't shed too many tears just yet. Let's see how much of his investment he is prepared to foresake in the name of allowing the club to move forward.

If he demands full repayment plus accrued interest (again, all in the accounts), and he can find a willing buyer on those terms, then fantastic. He would have turned the club into something well beyond our wildest dreams, made a few bob, (itself almost unheard of in football terms), and secured a future with a possibly willing new owner.

However, what happens if no buyer comes forward on those terms? Will he demand repayment of all his loans "on demand", again all as allowed for in the accounts if you need to check.

He has done wonders for the club, and frankly I would seriously doubt that he would leave it in the lurch after having invested so much of his time and credibility. These will certainly be very interesting months, both on and off the pitch. I just hope for his sakes, as well as RFC's, that he doesn't do anything too hasty.

After 16 evenfulo years, it would certainly seem odd without him! Do you think he would seriously give up the adoration he so richly gets right now?? Nah, frankly I can't see it myself! He had a ball last year, would he get the same buzz looking at his ferrari from his gym?!? :wink:

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by soggy biscuit » 13 Jul 2006 17:35

You appear to have overlooked the recent report on all this (someone posted this on the rumours sections)

John Madejski, chairman of Reading football club and former MD of Auto Trader, has firmly denied rumours that he stepped down from his position at the football club more than 2 years ago and has in fact been fronting the business for a family of wealthy Italians who had planned to stay anonymous.

Reports from within the club suggest Madejski angered the family recently by publically suggesting that he may be willing to sell the club if someone wealthy enough were to show an interest.

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by SpaceCruiser » 13 Jul 2006 17:36



That is a very good article and I hope Mr Madejski pays heed to it.

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by Only one Trevor Morley » 13 Jul 2006 17:52

I'm concerned about this - this is far more momentous than us signing a player or Sidwell getting a contract.....

Do we know where the original interview started - everyone has picked up on it.

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by Bucks Dave » 13 Jul 2006 18:25

Not anything surprising here. A few months ago he was warning us that, for him, getting to the Premiership may simply mean bigger debts and that if someone with deeper pockets came along he would sell out.

All was repeated at the fans forum he came to but he did make one pledge. He would not walk away and leave us in the lurch.

Life is full of uncertainty. Get used to it.

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by Chaney » 13 Jul 2006 18:30

more importantly, what effect will this have on players staff and fans moral?, Im really not happy about Mr Mad on this

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by Fezza » 13 Jul 2006 18:47

Is it not just an attempt to give Sidwell a guilt trip?

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