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qprbeth said:
Please remind who the superstars are in the Reading team that are being paid these wages
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I don't know the ins/outs of Reading. Only what my mate tells me. He said that Reading sent a letter to the EFF this season showing how they could manage (this was after big losses last season) and they went out and spent more. They got the lad from Liverpool, the forward Pushkin? and a guy called Pele :emoticon-0136-giggl and some others that I don't know. he said they spent quite a few million. They are now 5 points of relegation playing Barnsley on Saturday.
 
Quite Possibly Raving said:
Yup. This year will be remarkable on paper as, fingers crossed, we will improve our league position, football, and squad, while saving a ton of cash.

The next year will then account for any sales this summer.

So (I stand ready to be corrected) we're through the worst of the belt tightening, but that sadly doesn't mean we'll have much ££ to spend.
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Nor should we really. Transfer fees are horrific.

Even if we were in a healthyish position Eze would have to go. This demonstrates what an impact £20m+ would do but a guy like him comes along once a decade if you’re lucky.
 
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Quite Possibly Raving said:
Our overall debt is actually significantly reduced in these accounts as the owners had to concert a lot of debt to equity as part of / ahead of the FFP settlement.

That said, there was a new loan in 2019 of £11.4m from the owners, interest free (for now).
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So actually the EFL did the club (but not the owners) a favour by forcing the shareholders to convert unrepayable debt to worthless equity. So is the chart posted by Ellers showing a £300m + overall debt to shareholders accurate? I’m not a great one at reading balance sheets I’m afraid.
 
West WindsR said:
Who is on serious money there? Baffling.
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Mate you know me and maths! <yikes> You can explain it all to me.
However I believe Reading took a massive gamble on promotion. they have spent a lot on players and some aren't even playing. Do you remember that Aluko fella from Fulham... they still have him and paid £7M.
Their fans are blaming some fella called Kia Joorabchian who has been involved with club Money/transers.
They are acting like us a few years ago but don't have the backing.
 
West WindsR said:
Nor should we really. Transfer fees are horrific.

Even if we were in a healthyish position Eze would have to go. This demonstrates what an impact £20m+ would do but a guy like him comes along once a decade if you’re lucky.
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And like a bus, we have three...Eze, Chair and BOS
 
ELLERS said:
Mate you know me and maths! <yikes> You can explain it all to me.
However I believe Reading took a massive gamble on promotion. they have spent a lot on players and some aren't even playing. Do you remember that Aluko fella from Fulham... they still have him and paid £7M.
Their fans are blaming some fella called Kia Joorabchian wReplyho has been involved with club Money/transers.
They are acting like us a few years ago but don't have the backing.
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And you know exactly who Kia Joorabchian is don't you Ellers

I have no idea how he is banned by the PL and the EFL and all other parties in between
 
qprbeth said:
And you know exactly who Kia Joorabchian is don't you Ellers

I have no idea how he is banned by the PL and the EFL and all other parties in between
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Yeah he is the fella that did the Tevez deal and hang out with Hughes.
 
Exactly. Reading isn't the first club he has taken to the precipice, and no doubt won't be the last
 
qprbeth said:
Exactly. Reading isn't the first club he has taken to the precipice, and no doubt won't be the last
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Under Madjetski I always remember Reading as being a well run club. Since he left they have had a Russian owner linked to the Russian mafia. A Thai woman who conned them saying she was rich and wasn't. And now they have a Chinese bloke who wants to build a big shopping complex on the site.... Good luck with that.
 
sb_73 said:
So actually the EFL did the club (but not the owners) a favour by forcing the shareholders to convert unrepayable debt to worthless equity. So is the chart posted by Ellers showing a £300m + overall debt to shareholders accurate? I’m not a great one at reading balance sheets I’m afraid.
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His graph shows financing as opposed to debt. So I'd assume (happy to be corrected) the money they've put in that is now equity - effectively cancelling the debt - is counted in that figure.
 
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