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 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.
And if we have any geeky posters who enjoy reading the full accounts and bits.... https://beta.companieshouse.gov.uk/company/03197756/filing-history/MzI1ODE1NzEwOGFkaXF6a2N4/document?format=pdf&download=0…
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.
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.
Mate you know me and maths! 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.
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
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.
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.
Do you think Reading knew it wasn’t “the” Puskas or Pele, cause me mate Dave Ronaldinho isn’t doing anything this Saturday