Reading doing well financially???

[ClaretTony]

Just released their accounts, some headlines


Operating losses £43m
Wages 211% of revenue
Total accumulated losses £138m
Borrowings £87m
Furlough income £820k
Player signings £16m
Ave weekly wage £17,460

[claretonthecoast1882]

Any business running with over 100m in losses and a wage bill at 211% of its income should be applauded for showing ambition

[dandeclaret]

YEah - but I bet they didn't wast time accumulating cash, did they? Unlike our unambitious previous board, with their incredible results, and premier league football.

We should be more Reading...... or Brentford.....

Apparently.

[Hedontplayforyou]

We should help them out by take Olise off their hands.

Liam Moore and Ejaria aren’t half bad either.

[dsr]

We should help them out by take Olise off their hands.

Liam Moore and Ejaria aren’t half bad either.

Would they take a pay cut?

[dsr]

You would think that an owner who could subsidise his club to the extent of £120m in a year, would have been better spending the money cash down an a profitable oven-ready PL club further north.

[Newcastleclaret93]

There’s a number of players we should be interested in,

Olise, Meite, joao, Esteves, ejaria

[aggi]

The auditors aren't too confident:

[Chester Perry]

Chinese owners, struggling back home where their club has been kicked out of the Chinese Super League (poor financial management), such financials will only create further problems at home - I have been posting about them and Chinese owners for some time on the MMT thread

[Woodleyclaret]

I have mentioned several times over the past couple of seasons that Reading appear to discover and develop some talented players that we should be looking at .This is in the light now of them missing out on a playoff place racking up hugh losses ,they will have too sell to balance the books

[IanMcL]

There will be tears!
Mr Madjeski will be shedding some.

[superdimitri]

Plenty of money left for some biscuits.

[Chester Perry]

@SwissRamble has dissected those Reading 2019/20 financial results

https://twitter.com/SwissRamble/status/ ... 2549814274

and also produced his summary sheets

https://twitter.com/SwissRamble/status/ ... 8256886787

[IanMcL]

Plenty of money left for some biscuits.

Reading was famous for Huntley & Palmer's biscuits, Simonds Brewery (later Courage) and Sutton's Seeds.

The football blub was nicknamed the Biscuitmen.

Nothing of those industries there now.

Team now the 'Royals' as it is in Royal Berkshire.

Takes the biscuit!

[Chester Perry]

Reading was famous for Huntley & Palmer's biscuits, Simonds Brewery (later Courage) and Sutton's Seeds.

The football blub was nicknamed the Biscuitmen.

Nothing of those industries there now.

Team now the 'Royals' as it is in Royal Berkshire.

Takes the biscuit!

were we not known as the royals before them?, because of our history of firsts in regards to Royal family members watching football matches including that FA cup win in front of a presiding monarch?

[Bcrollerz]

Ill have to do some reading into it

[Claretitus]

After reading the headlines of their accounts, they are certainly taking the something, and it’s not biscuits that spring to mind. FFP?

[IanMcL]

were we not known as the royals before them?, because of our history of firsts in regards to Royal family members watching football matches including that FA cup win in front of a presiding monarch?

I never heard it until after the closure of H&P and they were deciding what to be called.

Are you from Reading too then?

I grew up in Southcote Lane.

[elwaclaret]

were we not known as the royals before them?, because of our history of firsts in regards to Royal family members watching football matches including that FA cup win in front of a presiding monarch?

The Royalites... after 1886, future King George V (?) visit for the turning on of the first floodlit match against Bolton, if memory serves... of the history not of the events I might add

[Chester Perry]

I never heard it until after the closure of H&P and they were deciding what to be called.

Are you from Reading too then?

I grew up in Southcote Lane.

No, both born and live in Burnley

[IanMcL]

Why the we and the our?

[Chester Perry]

Why the we and the our?

I presume you are referring to my earlier post

we (Burnley) that is how I talk about my club, your club our club especially on this board - I don't believe it is unusual to do so

[IanMcL]

Ah. Thought you were referring to Reading FC .

No one ever heard of the Royalites as you can imagine. Sounds very early football!

[Chester Perry]

Ah. Thought you were referring to Reading FC .

No one ever heard of the Royalites as you can imagine. Sounds very early football!

very early (1890) before the likes of Liverpool and Manchester United were formed let alone had joined the Football League

[ClaretTony]

very early (1890) before the likes of Liverpool and Manchester United were formed let alone had joined the Football League

As people with any knowledge of our history would know

[Chester Perry]

As people with any knowledge of our history would know

it is always good to broaden the knowledge Tony

[thelaughingclaret]

Any club with huge debt can just go into administration, get 10 points deducted and then carry on as they were. It is a joke but it is what it is. Basically do as you want.

[Socrates]

Any club with huge debt can just go into administration, get 10 points deducted and then carry on as they were. It is a joke but it is what it is. Basically do as you want.

Somebody should have told Bury that if it was always that simple.

[Herts Clarets]

Venue of a couple of memorable games for the Clarets recently:

Firstly the play off win with the screamer from Paterson followed shortly by Thompson's equally spectacular effort. You're just a **** Neil Warnock.
Secondly the Ben Mee block tackle with his head whilst prone in the 6 yard box
Thirdly the last game of the 2014 season, the promotion celebrations in the away end and the premature pitch invasion by "celebrating" Reading fans, only to discover they had missed out on the play offs. You're not going up, you're not going up.....

[claretonthecoast1882]

Venue of a couple of memorable games for the Clarets recently:

Firstly the play off win with the screamer from Paterson followed shortly by Thompson's equally spectacular effort. You're just a **** Neil Warnock.
Secondly the Ben Mee block tackle with his head whilst prone in the 6 yard box
Thirdly the last game of the 2014 season, the promotion celebrations in the away end and the premature pitch invasion by "celebrating" Reading fans, only to discover they had missed out on the play offs. You're not going up, you're not going up.....

That last game was probably the closest I have ever seen at a game with Reading of one of their fans getting angry, he came really close to swearing at one of our group as we left the ground.

[Herts Clarets]

That last game was probably the closest I have ever seen at a game with Reading of one of their fans getting angry, he came really close to swearing at one of our group as we left the ground.

I was about 4 rows from the front with my step father, nephew, 9 year old son and a Burnley fan i know who lived in Letchworth. When they invaded the pitch my step father took my son a few rows back and Graham said on the lines of "they are a bit aggressive aren't they". I pointed out that they waited until there was a line of Police and stewards between them and the Burnley fans before they started gesturing and if they really wanted they could have come over when the pitch was empty. See what they are like outside the ground. I was talking to a few blokes on the row behind and one of them said "once of a day i would have been over the seats and given a couple of them a smack, but i am on freebie tickets from Waitrose". As were we, Graham worked for John Lewis at the time.

When we left the ground, the wanabee hooligans were nowhere to be seen, replaced by any number of Reading fans congratulating us on our promotion to the Premier League.

[aggi]

Any club with huge debt can just go into administration, get 10 points deducted and then carry on as they were. It is a joke but it is what it is. Basically do as you want.

They could, but given the vast majority of the debt is to the owners of the club it's not a sensible idea. There's no reason why they'd want to write off all of the money that they are owed and if they really did want to do that then it could be done in a far more sensible way than administration.