'Show us the money' - Reading fans

Alex Gore • Published 27 Jan 2012 09:30 Comments 1 Comment

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Caution urged over Reading FC takeover

THE FRONT man for the investment consortium on the verge of a multi-million pound takeover of Reading Football Club has insisted it will not turn into another Everton fiasco.

Swiss financier Chris Samuelson was unveiled as the public face of Thames Sports Investment (TSI) - led by Russian tycoon Anton Zingarevich - this week when a confident Sir John Madejski said the "dream ticket" deal will be finalised in March.

But Mr Samuelson's arrival comes seven years after he appeared on Merseyside promising a £30m investment by Fortress Sports Fund in Everton Football Club, which involved Mr Zingarevich's billionaire dad Boris - only to pull the plug months later to the fury of supporters.

Speaking at the Madejski Stadium on Tuesday, Mr Samuelson said there were "very good reasons" why the deal was withdrawn but refused to elaborate, adding only: "It wasn't that we didn't have the money."

Mr Samuelson said it is completely different with Reading because the Everton deal was for a minority stake, and stressed it was Boris Zingarevich, not his son, who was involved. He added: "There is absolutely no reason to watch out."

Sir John Madejski, who will remain chairman until at least 2014, said he had no misgivings about TSI's credentials and integrity. He said Everton chairman, Bill Kenwright, was aware of the deal, and added: "He could have rung me up, he didn't, so I am sure everything is fine."

A source close to Everton yesterday suggested Reading should be asking searching questions of Mr Samuelson, and said: "He promised a lot that never came to pass. You say 'Chris Samuelson' to any Evertonian who remembers it and they say, 'don't go anywhere near it'."

Supporters Trust At Reading chairwoman, Paula Martin, said fans are understandably hesitant in welcoming TSI, with many football club takeovers ending in disaster. She added: "There are several vital facts that will not be known until at least March, and so until that time the atmosphere is one of cautious optimism."

WHAT DO YOU THINK OF THE TSI TAKEOVER? Post a comment below...

This article appeared in Reading Chronicle 27 Jan 12

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Alexander Litvinenko
Unregistered User
Jan 27, 17:13
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Hallelujah! Someone not afraid to ask awkward questions at last! So many people seem to be welcoming the new regime with blind optimism and open arms, without anyone stopping to look at the bona fides of the people making all the promises but not offering any guarantees. Everything promised to Reading fans so far is remarkably similar to everything promised to Everton fans, but Reading fans have so much faith in Sir John Madejksi's judgement that none of them seem to consider that he might be taken in as well. If the problem at Everton wasn't lack of money then why won't Samuelson elaborate? And is it significant Samuelson's partner in the deal at Everton was Jerome Anderson, the football agent who introduced Thaksin Shinawatra to Man City and brought the Venkats to Blackburn? Very loud alarm bells should be ringing.

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