Financial Accounts for 2022/23 | Page 3 | Vital Football

Financial Accounts for 2022/23

king_dezeeuw06 said:
Talal convinced his father in law to save us - without him we have have not found another owner and gone bust. So people were right to be grateful to him for that. But how they financially spent us into oblivion was unforgivable.

2 things can be true at once.
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I think it was more al jasmi son and talal that pursuaded jasmi to buy us
Unfortunately al jasmi son was killed in a accident just after takeover if I'm correct
 
Whelans broken leg said:
Just. Hope looking at them figures we don’t panic and. Sell any one on the cheap.
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I don't think we will as although Danson wants us to be self sufficient we aren't desperate for funds to cause us to accept offers lower than what we want.

I think that when you are selling players the club will not want to set a precedent by accepting low fees as that standard will be used as a measurement to determine the size of fee's we'll get in the future. If we let one player go on the cheap other clubs will know we are a soft touch and will low ball us every time moving forward.
 
bickymon said:
I think it was more al jasmi son and talal that pursuaded jasmi to buy us
Unfortunately al jasmi son was killed in a accident just after takeover if I'm correct
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Talal said he was the one who convinced his father in law.

I don't Al Jasmi's son had any real interest in the club, as if he was apparently the driving force he'd have been the one given chairmanship or at least be on the board. He never even came over once to see us play and was never mentioned at any point as having any interest prior to him dying.
 
bickymon said:
Don't think he will panic but might have to inreality
Way things are wages will be massively reduced
Some players sold to get some of his money
Back
With very little to spend to bring in new players
Way I see it we will have a weaker side next season compared to this
And a much bigger struggle on the field
With a big part of the team now here gone end of season
And could well be like this for quite some time
But at least we will still have a club just impossible to build a successful team for quie some time
But it needs to be sorted and it will be under danson
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Agree
It depends what we think is a successful team
 
king_dezeeuw06 said:
I don't think we will as although Danson wants us to be self sufficient we aren't desperate for funds to cause us to accept offers lower than what we want.

I think that when you are selling players the club will not want to set a precedent by accepting low fees as that standard will be used as a measurement to determine the size of fee's we'll get in the future. If we let one player go on the cheap other clubs will know we are a soft touch and will low ball us every time moving forward.
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Mr Danson appears to be a builder of assets, that he then sells for a profit.

Additionally when he took control of the New Statesman, he invested to develop the publication.
 
Made in Wigan said:
The fact Danson is still paying out millions to Kolo the Clown really grates with me. He should never have been anywhere near the club yet inexplicably was hired and is raking in this amount of cash. The dickheads that hired him should be liable for this. Totally irresponsible signing particularly when the club was knee deep in financial difficulties.
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And Kolo's coaching team
And Richardson's contractual obligations.

Didn't we also have to pay Leicester £1m for Kolo and his mate?. I guess that was on installments
 
Frank Bullitt said:
Didn't some folk say that about the last owners? That went well didn't it?
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king_dezeeuw06 said:
Talal convinced his father in law to save us - without him we have have not found another owner and gone bust. So people were right to be grateful to him for that. But how they financially spent us into oblivion was unforgivable.

2 things can be true at once.
Click to expand...
That isn't entirely correct, there were other interested parties in the background who had registered a serious interest in taking us over. One being our current owner.

The problem was the rules on the bidding process put in place by Begbies Traynor, they decided that they would look at applications of interest and put forward a preferred bidder (why I don't know).

After they had supposedly 'vetted' the Spanish consortium and made them the preferred bidder they were desperate to get another on board quickly after their application collapsed. The rest his history as the Brannigan/Al Jasmi/Talal group were cleared to take us over.

Begbies Traynor have a major role to play in our problems since they conducted the take over, but will still walk into other companies to wield their chaos with a relatively untarnished reputation and a much better bank balance.
 
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The preferred bidder thing seems to be the way things are done.

You are correct in saying that there were other interested parties at the time when Al Jasmin became the preferred bidder.

I thought it was one of the Begbies team that highlighted the asset stripping nature of the Spanish bid
 
daleks.at.the.monaco said:
The preferred bidder thing seems to be the way things are done.

You are correct in saying that there were other interested parties at the time when Al Jasmin became the preferred bidder.

I thought it was one of the Begbies team that highlighted the asset stripping nature of the Spanish bid
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No, it was from information supplied to the Supporters club by a concerned unknown party, this was checked by the local MP at government level and the solicitors group representing the supporters club presented the undeniable findings/information to Begbies Traynor and the EFL, who had no option other than to act on it and suspend them from the bidding process.

As for other parties it was common knowledge that a couple were chancers/time wasters but so that may have been behind the decision to go all in with Talal's mob.

What it did do is exclude Mr Danson, just think how much a better position we could be in now if he had got control back then, his financial values and ethos getting control of a debt free company.
 
St. Column Major said:
That isn't entirely correct, there were other interested parties in the background who had registered a serious interest in taking us over. One being our current owner.

The problem was the rules on the bidding process put in place by Begbies Traynor, they decided that they would look at applications of interest and put forward a preferred bidder (why I don't know).

After they had supposedly 'vetted' the Spanish consortium and made them the preferred bidder they were desperate to get another on board quickly after their application collapsed. The rest his history as the Brannigan/Al Jasmi/Talal group were cleared to take us over.

Begbies Traynor have a major role to play in our problems since they conducted the take over, but will still walk into other companies to wield their chaos with a relatively untarnished reputation and a much better bank balance.
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There were other interested parties but we don't know how credible any of them were. As we saw with the Spanish, there are a lot of people who enter talks who turn out to be time wasters.
 
St. Column Major said:
No, it was from information supplied to the Supporters club by a concerned unknown party, this was checked by the local MP at government level and the solicitors group representing the supporters club presented the undeniable findings/information to Begbies Traynor and the EFL, who had no option other than to act on it and suspend them from the bidding process.

As for other parties it was common knowledge that a couple were chancers/time wasters but so that may have been behind the decision to go all in with Talal's mob.

What it did do is exclude Mr Danson, just think how much a better position we could be in now if he had got control back then, his financial values and ethos getting control of a debt free company.
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Yes I remember the supporters club thing.

I thought Gerald Krasner was the source, illogical as that sounds
 
daleks.at.the.monaco said:
And Kolo's coaching team
And Richardson's contractual obligations.

Didn't we also have to pay Leicester £1m for Kolo and his mate?. I guess that was on installments
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I believe so Complete and utter madness given its now evident we were struggling to meet our financial obligations at the time.

Gross incompetence and mismanagement. Yet Talal is now with the group in prime position to take over Reading. You couldn’t make it up how anyone would hire him after seeing the mess he created/oversaw with us.
 
Made in Wigan said:
The fact Danson is still paying out millions to Kolo the Clown really grates with me. He should never have been anywhere near the club yet inexplicably was hired and is raking in this amount of cash. The dickheads that hired him should be liable for this. Totally irresponsible signing particularly when the club was knee deep in financial difficulties.
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What are these millions you are talking about they only paid out £2m in total.
 
daleks.at.the.monaco said:
Are there not 2 x £4m conversions of loans into shares in the resultsView attachment 72260
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The 4m 'loan write back' mentioned at the bottom of page 5 wasn't the share conversion i was thinking of.

I went on companies house and checked, what i was talking about was a much larger 16.5m statement of capital injection (link below) which included 8m of new shares issued in February 23rd 2023 by Al Jasmi. The 8m share amount is one of the figures highlighted in red.

I'm no expert at reading accounts, so maybe i'm missing it in there but i can't see what the 4m write back was for, when it was made and by which owner.

 
St. Column Major said:
No, it was from information supplied to the Supporters club by a concerned unknown party, this was checked by the local MP at government level and the solicitors group representing the supporters club presented the undeniable findings/information to Begbies Traynor and the EFL, who had no option other than to act on it and suspend them from the bidding process.

As for other parties it was common knowledge that a couple were chancers/time wasters but so that may have been behind the decision to go all in with Talal's mob.

What it did do is exclude Mr Danson, just think how much a better position we could be in now if he had got control back then, his financial values and ethos getting control of a debt free company.
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1st and 2nd paragraphs - all heresay. We will never know the truth.
 
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