Anyone else suspect the value of the training facility has just dropped, playing into the hands of anyone looking to buy the club? You could actually argue it’s worthless.
I'm not sure I get the holier-than-thou attitude among some posters, who've decided that their personally extensive experience of business deals means that Rob Couhig couldn't possibly have cocked up here.
Frankly none of us know what went on, whether or not this was a clusterfuck of epic proportions or a brilliant masterstroke of due diligence. All we've seen are some very limited, and occasionally contradictory, press releases.
Some people will conspiracise, others will cauterise. Neither group know that they're in the right. Everyone would benefit from showing some humility and accept others will draw different conclusions when the information provided is so sparse.
When it comes to real estate, planning, ownership the US and UK have very different forces at play. This appears to come as an on-going surprise to the owners. Be it access roads, stadium ownership, new training ground locations. Lessons learnt, we’ll see.
I agree that the planning restriction could very easily be changed, I guess it was there to stop the possible future sale for housing.
The source of the funding is the main question we should all like to know, presumably the Georgian billionaire, along with what does he get for his money?
The problems re Marlow Road seem quite insignificant at the moment.
I might have imagined this but didn't Rob want to invest in a new training ground when he first came to the club? I think I recall that the club had identified a site just off the A404 where the new running track has is. Why hasn't the club pushed on with this thought or is it another dream from Rob that doesn't come to anything?
I‘m guessing here but maybe the A404 development would be linked in planning terms to the film studio development next door. If the studio doesn’t happen that bit of green belt will be a battle ground for locals too.
Maybe HMRC or the EFL (less likely) have specified this finally.
Reading and it's owner have made and failed to keep various promises to both over months and it's possible they have been warned of serious charges or legal action if they take money away when they previously claimed they were going to do everything in their power to keep it going. I seem to remember at one point he was claiming that he would love to put in more money but wasn't able to get it into the country due to the Chinese government.
Don't think you will get an answer @Erroll_Sims to the relationship between Mr Lomtadze and Feliciana as we may be told to do one. WWFC I doubt has any terms with the Georgian billionaire. 🤷♂️
So as Reading have sailed off into the sunset , taking their protests threats and bedsheets with them happy at the prospect of another fortune to burn through, we are left perplexed with a list of questions that could fill one of the aforementioned sheets .
Are we still having the Q&A tomorrow night? It’s been rather quiet on that front, aside from it being mentioned on commentary, but there’s no reason why it wouldn’t still go ahead? @bluntphil
Decided to listen. If I was a Reading fan I would be quite concerned. During the interview 3 bidders went down to 2. 8 Weeks until ANYTHING happens. Tax bill in 10 days. Wages the same.
So I assume another points deduction imminent as they have already said they had a shortfall of £1m.
You are right, I am concerned for the future of my club. Even before the season started, I was doubtful if we would last the season. Some of my friends and other supporters told me I was wrong! I think some of them are beginning to agree with me now as the sale was going to completed before Christmas, then two more "deadlines" were missed. I will just be glad to get through this season (even with points deductions and relegation to League Two), if it means we can start next season under new owners.
Yes I can’t imagine HMRC delaying again when they have been promised immediate payment a number of times.
Timing is going to be crucial and a points deduction seems very likely. Hopefully the points deduction will not send you down to league two, as that in turn will make the purchase far less attractive for any prospective buyers.
I sincerely hope it all works out well for you @theRoyalBiscuit 👍
Wow - surely us buying the training ground would have made the rest of the club easier to sell, then, at least as far as much lower bids being acceptable and buyers not having to show funds to run the white elephant for two years to the EFL?
The part of the first press release making a similar point had me scratching my head too. I was struggling to think how it could be legally enforced to make sure Yongge wouldn't just trouser the cash, maybe something along the lines of funds in escrow released by a mediator (the Football League possibly?)
Comments
Anyone else suspect the value of the training facility has just dropped, playing into the hands of anyone looking to buy the club? You could actually argue it’s worthless.
Bearwoodgate?
Are we at that stage yet?
I'm not sure I get the holier-than-thou attitude among some posters, who've decided that their personally extensive experience of business deals means that Rob Couhig couldn't possibly have cocked up here.
Frankly none of us know what went on, whether or not this was a clusterfuck of epic proportions or a brilliant masterstroke of due diligence. All we've seen are some very limited, and occasionally contradictory, press releases.
Some people will conspiracise, others will cauterise. Neither group know that they're in the right. Everyone would benefit from showing some humility and accept others will draw different conclusions when the information provided is so sparse.
When it comes to real estate, planning, ownership the US and UK have very different forces at play. This appears to come as an on-going surprise to the owners. Be it access roads, stadium ownership, new training ground locations. Lessons learnt, we’ll see.
Spot on
Well that’s something I never expected to see. What a weird and wonderful world we live in,
(And if we pay the ransom will you please release the real @aloysius)
https://www.theguardian.com/football/2024/mar/18/wycombe-frustrated-training-ground-reading
I wonder what that’s all about?
I agree that the planning restriction could very easily be changed, I guess it was there to stop the possible future sale for housing.
The source of the funding is the main question we should all like to know, presumably the Georgian billionaire, along with what does he get for his money?
The problems re Marlow Road seem quite insignificant at the moment.
I might have imagined this but didn't Rob want to invest in a new training ground when he first came to the club? I think I recall that the club had identified a site just off the A404 where the new running track has is. Why hasn't the club pushed on with this thought or is it another dream from Rob that doesn't come to anything?
I‘m guessing here but maybe the A404 development would be linked in planning terms to the film studio development next door. If the studio doesn’t happen that bit of green belt will be a battle ground for locals too.
Maybe HMRC or the EFL (less likely) have specified this finally.
Reading and it's owner have made and failed to keep various promises to both over months and it's possible they have been warned of serious charges or legal action if they take money away when they previously claimed they were going to do everything in their power to keep it going. I seem to remember at one point he was claiming that he would love to put in more money but wasn't able to get it into the country due to the Chinese government.
Don't think you will get an answer @Erroll_Sims to the relationship between Mr Lomtadze and Feliciana as we may be told to do one. WWFC I doubt has any terms with the Georgian billionaire. 🤷♂️
@EwanHoosaami I wasn't really expecting an answer but I still think it is a question that needs to be asked
Ssshhhh, but I wouldn't mind betting it will be covered under the general blank of an NDA! 😉
So as Reading have sailed off into the sunset , taking their protests threats and bedsheets with them happy at the prospect of another fortune to burn through, we are left perplexed with a list of questions that could fill one of the aforementioned sheets .
Are we still having the Q&A tomorrow night? It’s been rather quiet on that front, aside from it being mentioned on commentary, but there’s no reason why it wouldn’t still go ahead? @bluntphil
Reading confirm Wycombe bid was substantial and in the same ballpark as other offers which have been for the whole club.
https://www.bbc.co.uk/sounds/play/p0hkq0h3
An owner wiling to spend 20+ million to get us into the Championship at last! 😉
Yes, but 20+ million what? Georgian Lari?
That's still nearly 6 million quid tbf. Time to raise expectations...
Decided to listen. If I was a Reading fan I would be quite concerned. During the interview 3 bidders went down to 2. 8 Weeks until ANYTHING happens. Tax bill in 10 days. Wages the same.
So I assume another points deduction imminent as they have already said they had a shortfall of £1m.
Definitely. A new road at least, maybe even the mythical chairlift.
You are right, I am concerned for the future of my club. Even before the season started, I was doubtful if we would last the season. Some of my friends and other supporters told me I was wrong! I think some of them are beginning to agree with me now as the sale was going to completed before Christmas, then two more "deadlines" were missed. I will just be glad to get through this season (even with points deductions and relegation to League Two), if it means we can start next season under new owners.
Yes I can’t imagine HMRC delaying again when they have been promised immediate payment a number of times.
Timing is going to be crucial and a points deduction seems very likely. Hopefully the points deduction will not send you down to league two, as that in turn will make the purchase far less attractive for any prospective buyers.
I sincerely hope it all works out well for you @theRoyalBiscuit 👍
Wow - surely us buying the training ground would have made the rest of the club easier to sell, then, at least as far as much lower bids being acceptable and buyers not having to show funds to run the white elephant for two years to the EFL?
I'm sure Georgian Lari was a Harry Enfield character. If he wasn't, he should've been.
A pal of Swiss Toni possibly?
After the past weeks shenanigans, Larry, Curly and Moe could be more appropriate !
I should have said Kazakhstan Tenge, but 20M of those only equates to about 35,000. Not sure what that would buy these days.
The part of the first press release making a similar point had me scratching my head too. I was struggling to think how it could be legally enforced to make sure Yongge wouldn't just trouser the cash, maybe something along the lines of funds in escrow released by a mediator (the Football League possibly?)