John Madjeski....

[RIP ELM Park]

Whoever said you can't make a small fortune in football was wrong, you can, you just have to start with a large fortune. That is what I imagine the chairman is afraid of.

[strap]

The club's debt currently stands at £10million

I suspect John Madejski is the person the club owe this £10m to.

Pssst! Forbs - see my post on previous page re. who RFC owes what to!

[Sir Rodger Doyle]

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...?

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.

Anyone honestly prefer the oblivion gamble?

[Lower West]

Its fair to say that JM is a lot shrewder than you appear to give him credit for.............

Also we've come a long from from where we were as a club........ brick by brick remember

[Platypuss]

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...?

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.

Anyone honestly prefer the oblivion gamble?

Because of course there are only two possible courses of action.

HIAB.

Yawn.

[Royalee]

Hooray, another thread blaming Madejski for Coppell's loyalty to players which aren't good enough. Can't the mods just delete a few or combine them into one pile of stinking shit so that the Team board isn't as cluttered up with rubbish?

[Man Friday]

Hooray, another thread blaming Madejski for Coppell's loyalty to players which aren't good enough. Can't the mods just delete a few or combine them into one pile of stinking shit so that the Team board isn't as cluttered up with rubbish?

No they can't, or shouldn't. They should be there to moderate abuse, etc, not be judge and jury on what is pointless conversation and what is interesting. We'll make our minds up on that by virtue of our contributions or non-contributions to the debate.

[brendywendy]

Hooray, another thread blaming Madejski for Coppell's loyalty to players which aren't good enough. Can't the mods just delete a few or combine them into one pile of stinking shit so that the Team board isn't as cluttered up with rubbish?

No they can't, or shouldn't. They should be there to moderate abuse, etc, not be judge and jury on what is pointless conversation and what is interesting. We'll make our minds up on that by virtue of our contributions or non-contributions to the debate.

dont think he meant for them to make decisions based on the quality of a thread, or the comments contained therein
merely that threads all saying the same thing should be combined thats all
pretty sensible, it seems to me

[Arch]

Hooray, another thread blaming Madejski for Coppell's loyalty to players which aren't good enough. Can't the mods just delete a few or combine them into one pile of stinking shit so that the Team board isn't as cluttered up with rubbish?

Hah! The mods are among the main contributors.

[Rev Algenon Stickleback H]

The Middlesbrough chairman said that one of the reasons he was in favour of the premiership games abroad plan was that his club lost £17 million and an extra £5 million would help.

And that's the problem Reading FC faces - chairmen who are content to run up horrific losses, seemingly under the belief that some new revenue stream will string up and pay for it all.

If the only way for Reading to survive in the top division is to pay so much that we lose £10 million a year, is it worth staying up in the long run?

Maybe the game here needs a licence system like in Germany, where clubs that get into large debts lose their licence and get kicked out of the league.

[MartinRdg]

The Middlesbrough chairman said that one of the reasons he was in favour of the premiership games abroad plan was that his club lost £17 million and an extra £5 million would help.

And that's the problem Reading FC faces - chairmen who are content to run up horrific losses, seemingly under the belief that some new revenue stream will string up and pay for it all.

If the only way for Reading to survive in the top division is to pay so much that we lose £10 million a year, is it worth staying up in the long run?

Maybe the game here needs a licence system like in Germany, where clubs that get into large debts lose their licence and get kicked out of the league.

However, didn't RFC make £6M last year?

Surely, even spending 5 million on players and wages and still making a profit makes sense?

[Dirk Gently]

The Middlesbrough chairman said that one of the reasons he was in favour of the premiership games abroad plan was that his club lost £17 million and an extra £5 million would help.

And that's the problem Reading FC faces - chairmen who are content to run up horrific losses, seemingly under the belief that some new revenue stream will string up and pay for it all.

If the only way for Reading to survive in the top division is to pay so much that we lose £10 million a year, is it worth staying up in the long run?

Maybe the game here needs a licence system like in Germany, where clubs that get into large debts lose their licence and get kicked out of the league.

Interestingly, the Doloitte Football Money League Report came out today, containing gems such as “As these polarised positions are cemented, some notable ‘leagues within the league’ are starting to appear.” Starting to appear?!??

But the comparison with the German leagues in interesting. Although the Premier League is far and away the richest league, it's not the most commercially successful. If you take away TV money, the most successful league in the world - the one most able to attune to the needs of business and thus arguably the most businesslike - is the Bundesliga.

And this is partly because English clubs have basically been like welfare claimants - they don't have any initiative as they get a hand out every three years from Sky, which has always got bigger. In Germany, once their TV deal collapsed in 2001, and with prices being so low, they've had to work hard to increase their income to compete.

And unlike in England, they understand that their most saleable assets are the competitiveness of the league and the atmosphere and vibrancy of the stadium.

[brendywendy]

The Middlesbrough chairman said that one of the reasons he was in favour of the premiership games abroad plan was that his club lost £17 million and an extra £5 million would help.

And that's the problem Reading FC faces - chairmen who are content to run up horrific losses, seemingly under the belief that some new revenue stream will string up and pay for it all.

If the only way for Reading to survive in the top division is to pay so much that we lose £10 million a year, is it worth staying up in the long run?

Maybe the game here needs a licence system like in Germany, where clubs that get into large debts lose their licence and get kicked out of the league.

However, didn't RFC make £6M last year?

Surely, even spending 5 million on players and wages and still making a profit makes sense?

given that we have made a loss every year leading up to last years 6 m profit i would imagine some of it may well go back to the man who bankrolled those years of lossmaking,
also i would imagine, that with the two new players, and the improved deals for current players
mean that most of that 6 million has indeed been spent already

the maths really isnt that complex.

[Xavier Onassis]

The Middlesbrough chairman said that one of the reasons he was in favour of the premiership games abroad plan was that his club lost £17 million and an extra £5 million would help.

And that's the problem Reading FC faces - chairmen who are content to run up horrific losses, seemingly under the belief that some new revenue stream will string up and pay for it all.

If the only way for Reading to survive in the top division is to pay so much that we lose £10 million a year, is it worth staying up in the long run?

Maybe the game here needs a licence system like in Germany, where clubs that get into large debts lose their licence and get kicked out of the league.

However, didn't RFC make £6M last year?

Surely, even spending 5 million on players and wages and still making a profit makes sense?

Fae 2.5M, Matejovsky 1.5M, Kebe 0.4M - leaves a few hundred thousand for their wages and improved contracts for Shorey, Hunt, etc. See? it all adds up.

[Hoop Blah]

given that we have made a loss every year leading up to last years 6 m profit i would imagine some of it may well go back to the man who bankrolled those years of lossmaking,
also i would imagine, that with the two new players, and the improved deals for current players
mean that most of that 6 million has indeed been spent already

the maths really isnt that complex.

I've no problem with a bit of the profit going back to pay back some of the outlay over the last 20 years but to say the maths isn't that complex is a bit daft when you're choosing to ignore the massive income thats about to come into the club by means of the Sky money!

[Ian Royal]

given that we have made a loss every year leading up to last years 6 m profit i would imagine some of it may well go back to the man who bankrolled those years of lossmaking,
also i would imagine, that with the two new players, and the improved deals for current players
mean that most of that 6 million has indeed been spent already

the maths really isnt that complex.

I've no problem with a bit of the profit going back to pay back some of the outlay over the last 20 years but to say the maths isn't that complex is a bit daft when you're choosing to ignore the massive income thats about to come into the club by means of the Sky money!

There was a significant amount of Sky money last season as well and that still only left us making £6m profit.

[Rev Algenon Stickleback H]

The Middlesbrough chairman said that one of the reasons he was in favour of the premiership games abroad plan was that his club lost £17 million and an extra £5 million would help.

And that's the problem Reading FC faces - chairmen who are content to run up horrific losses, seemingly under the belief that some new revenue stream will string up and pay for it all.

If the only way for Reading to survive in the top division is to pay so much that we lose £10 million a year, is it worth staying up in the long run?

Maybe the game here needs a licence system like in Germany, where clubs that get into large debts lose their licence and get kicked out of the league.

However, didn't RFC make £6M last year?

Surely, even spending 5 million on players and wages and still making a profit makes sense?

indeed it does, but unless the club refused to spend that profit, it misses the point. If you operate in a league where being run prudently puts you at a disadvantage compared to those who don't, it's not a good situation to be in.

I remember Grimsby Town's chairman moaning that after the ITV digital collapse he cut costs to make sure the club didn't go into debt, while other clubs just carried on pretty much as before, knowing if the worst came to the worst, they could go into administration.

It's not just a premier league problem, which is why the lower divisions brought in the salary cap to try and make sure that clubs didn't spend more than 70% or so of their income on salaries. I've no idea how that cap works though, or if there's any penalty for exceeding it.

[Chuckle Brother]

The Middlesbrough chairman said that one of the reasons he was in favour of the premiership games abroad plan was that his club lost £17 million and an extra £5 million would help.

And that's the problem Reading FC faces - chairmen who are content to run up horrific losses, seemingly under the belief that some new revenue stream will string up and pay for it all.

If the only way for Reading to survive in the top division is to pay so much that we lose £10 million a year, is it worth staying up in the long run?

Maybe the game here needs a licence system like in Germany, where clubs that get into large debts lose their licence and get kicked out of the league.

Interestingly, the Doloitte Football Money League Report came out today, containing gems such as “As these polarised positions are cemented, some notable ‘leagues within the league’ are starting to appear.” Starting to appear?!??

But the comparison with the German leagues in interesting. Although the Premier League is far and away the richest league, it's not the most commercially successful. If you take away TV money, the most successful league in the world - the one most able to attune to the needs of business and thus arguably the most businesslike - is the Bundesliga.

And this is partly because English clubs have basically been like welfare claimants - they don't have any initiative as they get a hand out every three years from Sky, which has always got bigger. In Germany, once their TV deal collapsed in 2001, and with prices being so low, they've had to work hard to increase their income to compete.

And unlike in England, they understand that their most saleable assets are the competitiveness of the league and the atmosphere and vibrancy of the stadium.

This is interesting if true. But how is that measured ? Surely they cannot make any more, even in relative terms, on the usual money makers (ie merchandising, gate receipts etc.........) ?

[Rev Algenon Stickleback H]

The Middlesbrough chairman said that one of the reasons he was in favour of the premiership games abroad plan was that his club lost £17 million and an extra £5 million would help.

And that's the problem Reading FC faces - chairmen who are content to run up horrific losses, seemingly under the belief that some new revenue stream will string up and pay for it all.

If the only way for Reading to survive in the top division is to pay so much that we lose £10 million a year, is it worth staying up in the long run?

Maybe the game here needs a licence system like in Germany, where clubs that get into large debts lose their licence and get kicked out of the league.

Interestingly, the Doloitte Football Money League Report came out today, containing gems such as “As these polarised positions are cemented, some notable ‘leagues within the league’ are starting to appear.” Starting to appear?!??

But the comparison with the German leagues in interesting. Although the Premier League is far and away the richest league, it's not the most commercially successful. If you take away TV money, the most successful league in the world - the one most able to attune to the needs of business and thus arguably the most businesslike - is the Bundesliga.

And this is partly because English clubs have basically been like welfare claimants - they don't have any initiative as they get a hand out every three years from Sky, which has always got bigger. In Germany, once their TV deal collapsed in 2001, and with prices being so low, they've had to work hard to increase their income to compete.

And unlike in England, they understand that their most saleable assets are the competitiveness of the league and the atmosphere and vibrancy of the stadium.

This is interesting if true. But how is that measured ? Surely they cannot make any more, even in relative terms, on the usual money makers (ie merchandising, gate receipts etc.........) ?

their big success is crowd numbers, not finances. Tickets are relatively cheap, and crowds are just over 39,000 in the top division, with 10 clubs pulling in over 40,000 a week (and another three in the second division with over 36,000). Oddly, after that 10th best supported club (Hannover with 40,204) the next best is Karlsruher, right back with just 29,000. Those three well supported 2nd division clubs have helped the second tier's crowds pass England's for the first time in a very long time.

German clubs do have one "advantage" though, as out of the 36 clubs in the top two divisions, there are only two cities with more than one club (Munich with Bayern & 1860, and Hamburg with SV Hamburg & St Pauli).

[Platypuss]

given that we have made a loss every year leading up to last years 6 m profit i would imagine some of it may well go back to the man who bankrolled those years of lossmaking,
also i would imagine, that with the two new players, and the improved deals for current players
mean that most of that 6 million has indeed been spent already

the maths really isnt that complex.

I've no problem with a bit of the profit going back to pay back some of the outlay over the last 20 years but to say the maths isn't that complex is a bit daft when you're choosing to ignore the massive income thats about to come into the club by means of the Sky money!

There was a significant amount of Sky money last season as well and that still only left us making £6m profit.

The new deal that started this season is significantly bigger again.