Thames Sports Investment

[ZacNaloen]

That's what they are paying for the club, but what about the 25million that the club owes JM?

[Friday's Legacy]

That won't tell us when the deal is ratified though will it? Of course CS is going to make all the right noises.

You are bordering on obsessed with when this goes through. It doesn't matter when. What matters is that TSI have the money they say they do and they are fit and proper to run this football club, which appears to be 100% ownership in 12 months time. If that takes another month then so be it.

The Daily Mail are supposed to be running a story this week about the takeover.

Sounds like quite a frank interview, and they spoke with CS regarding the 25m fee for 51% stage 1 of the takeover - not apparently accurate.

TSI are paying "12.7m for 51 % then 12.3m for the rest by 30th sept 2013."

The change in proposed price is interesting

Perhaps TSI made SJM a new revised offer that he couldn't refuse

I've found an article in the Daily Mail from 7th April that mentions the same offer. http://www.dailymail.co.uk/sport/footba ... eover.html

[Friday's Legacy]

For clarification, the deal has not at any time changed. The two stage process for £25m has always been £12.7m for 51% and then £12.3m for the rest by 30th sept 2013.

[Royal Lady]

I'm not obsessed - but it is quite important.

Having seen the list of checks they do for FAPP or Directors and Owners - the only stumbling block would appear to be "where is the money coming from" and if they couldn't prove that immediately, I'd, personally, say it's looking a bit iffy. That's all. So Samuelson can give any number of interviews to the press and AZ can attend any number of games, but if the stumbling block IS "where is the money coming from" - this isn't looking too healthy! And I'd rather we, as a club, knew about this sooner rather than later.

[ZacNaloen]

For clarification, the deal has not at any time changed. The two stage process for £25m has always been £12.7m for 51% and then £12.3m for the rest by 30th sept 2013.

That's what they are paying for the club, but what about the 25million that the club owes JM?

Possibly this is where the confusion comes from, they are buying the debt as well it's just a seperate deal?

[winchester_royal]

Yep, or perhaps it was including the stadium/training ground.

[Friday's Legacy]

I'm not obsessed - but it is quite important.

Having seen the list of checks they do for FAPP or Directors and Owners - the only stumbling block would appear to be "where is the money coming from" and if they couldn't prove that immediately, I'd, personally, say it's looking a bit iffy. That's all. So Samuelson can give any number of interviews to the press and AZ can attend any number of games, but if the stumbling block IS "where is the money coming from" - this isn't looking too healthy! And I'd rather we, as a club, knew about this sooner rather than later.

You are though going around in circles. You, like the the rest of us, have no idea why we are still waiting for the final ratification. It could well be they still need to be satisfied where the money is coming from, but it could also be any of the other sensible things already mentioned. This whole process is a lot more in depth now compared to a couple of seasons ago when anyone could walk in, make promises and take ownership of a football club. That's a good thing, and this will take as long as it has to take. You, me, the fans, do not need to know "sooner than later" at all. It will be done when it's done.

[Snowball]

There is no problem either way!


If it goes through we are in The Premiership

If it doesn't go through we are in The Premiership

[Friday's Legacy]

For clarification, the deal has not at any time changed. The two stage process for £25m has always been £12.7m for 51% and then £12.3m for the rest by 30th sept 2013.

That's what they are paying for the club, but what about the 25million that the club owes JM?

Possibly this is where the confusion comes from, they are buying the debt as well it's just a seperate deal?

I'm told John Madejski will take the debt with him. TSI will not be paying these off.

[Royal Rother]

Not saying you're wrong but I find that hard to believe.

[Friday's Legacy]

Not saying you're wrong but I find that hard to believe.

I was equally as surprised to hear that, but it might explain why the 100% sale of the club is only £25m. That is an absolute snip, more so now we're in the Premier League.

[Ian Royal]

I'm not obsessed - but it is quite important.

Having seen the list of checks they do for FAPP or Directors and Owners - the only stumbling block would appear to be "where is the money coming from" and if they couldn't prove that immediately, I'd, personally, say it's looking a bit iffy. That's all. So Samuelson can give any number of interviews to the press and AZ can attend any number of games, but if the stumbling block IS "where is the money coming from" - this isn't looking too healthy! And I'd rather we, as a club, knew about this sooner rather than later.

The Club do know all about this. And the club is saying its a formality and will be approved. You as a supporter don't need to know anything more than that the club are satisfied with the deal, expect the PL to be satisfied too, and expect it all to go through shortly.

[Royal Rother]

Not saying you're wrong but I find that hard to believe.

I was equally as surprised to hear that, but it might explain why the 100% sale of the club is only £25m. That is an absolute snip, more so now we're in the Premier League.

Hang on a sec - that doesn't make sense does it...? What you said above wouldn't explain it, it would contradict it.

Rather than getting the club for £25m, it effectively would mean they are getting it for nothing.

SJM's loans were used to build the club so that it has the ground, facilities, infrastructure, team etc. etc. we see today. (Ignore the recent TSI funding that helped us into the PL as that's irrelevant in this context). If SJM only gets £25m for his shares and nothing back on the loans then he'll come out of the whole 20 years effectively level. £25m in, £25m out.

But in fact a certain amount (guessing at £10m) of loans were converted to shares a few years ago, which would mean on this deal he'll be coming out a loser financially despite having never taken a salary and very minimal interest on his loans!!!

No. That can't be right.

[ZacNaloen]

what benefit is having that debt over the club to SJM? He'd be a large creditor if they oxf*rd the club over but there's no guarantee he'd get much back?

[EPR]

what benefit is having that debt over the club to SJM?

If it's the deal-clincher then £25M cash in the bank.

[Uke]

My understanding is that JM gets £25mil and the club STILL owes him the money.

So he effectively gets £50mil out of it.

He may not want it back himself, but those who inherit his estate will

[Friday's Legacy]

Not saying you're wrong but I find that hard to believe.

I was equally as surprised to hear that, but it might explain why the 100% sale of the club is only £25m. That is an absolute snip, more so now we're in the Premier League.

Hang on a sec - that doesn't make sense does it...? What you said above wouldn't explain it, it would contradict it.

Rather than getting the club for £25m, it effectively would mean they are getting it for nothing.

SJM's loans were used to build the club so that it has the ground, facilities, infrastructure, team etc. etc. we see today. (Ignore the recent TSI funding that helped us into the PL as that's irrelevant in this context). If SJM only gets £25m for his shares and nothing back on the loans then he'll come out of the whole 20 years effectively level. £25m in, £25m out.

But in fact a certain amount (guessing at £10m) of loans were converted to shares a few years ago, which would mean on this deal he'll be coming out a loser financially despite having never taken a salary and very minimal interest on his loans!!!

No. That can't be right.

That's just my take on it.

Going by what appears a reliable source, the cost per % as mentioned earlier is bang on. He is also adamant that the total cost of £25m does not include the debt and SJM. He will absorb that himself.

What exactly TSI are then buying I don't know. I assume everything we heard in the first press conference.

[under the tin]

I had the same reaction to this as Rother.
The numbers don't make sense.
Thinking laterally, is it possible that a deal is being brokered to minimise Tax liability?
Just speculating

[Royal Lady]

I had the same reaction to this as Rother.
The numbers don't make sense.
Thinking laterally, is it possible that a deal is being brokered to minimise Tax liability?
Just speculating

If it is, Ian Royal will be spitting feathers!

[ZacNaloen]

SJM has form for reducing his tax liabilities, he's an honourable man, but also a capitalist.