Villaphan04 Posted September 29, 2023 Share Posted September 29, 2023 Sadly, another EFL club that is being run into the ground. 16 points deducted in the last few seasons is alarming. Placed in another embargo as well. Link to comment Share on other sites More sharing options...
Villaphan04 Posted September 29, 2023 Author Share Posted September 29, 2023 Reading FC | Club statement | Embargo status and proposed sale of the club Quote Reading Football Club can confirm that a sum owed to HMRC and due by Friday 22nd September 2023 remains outstanding. In exceeding the default period, the club reported this breach and has again been placed under a registration embargo with immediate effect. It will remain in place until the breach has been remedied. The club continues to suffer significant cashflow issues and, in striving to establish sources of stable external investment, we can confirm that there has been significant interest from a number of parties seeking involvement in the club. Discussions and due diligence processes with a number of these potential investors continue apace. Our owner, Mr Dai, is openly inviting further credible offers of interest and declarations of intent from parties eager to pursue a potential sale of the club. Link to comment Share on other sites More sharing options...
Xela Posted September 29, 2023 Share Posted September 29, 2023 Another Chinese owned club struggling. Link to comment Share on other sites More sharing options...
Popular Post theboyangel Posted September 29, 2023 Popular Post Share Posted September 29, 2023 It all seems to be a case of live fast, Dai Yongge to me We did well to rid ourselves of Tony Xia before the damage he was doing became irreparable. Its a sad state of affairs at Reading, which could easily have been us. 3 6 1 Link to comment Share on other sites More sharing options...
VillaJ100 Posted September 30, 2023 Share Posted September 30, 2023 8 hours ago, theboyangel said: It all seems to be a case of live fast, Dai Yongge to me We did well to rid ourselves of Tony Xia before the damage he was doing became irreparable. Its a sad state of affairs at Reading, which could easily have been us. I mean the damage was pretty much irreparable without billionaire investment, Xia was down to remortgaging 3 bed semis the club owned in Erdington to pay some wages for a couple of weeks. 1 Link to comment Share on other sites More sharing options...
Xela Posted September 30, 2023 Share Posted September 30, 2023 9 hours ago, theboyangel said: It all seems to be a case of live fast, Dai Yongge to me 1 Link to comment Share on other sites More sharing options...
villan95 Posted September 30, 2023 Share Posted September 30, 2023 Have we got a Sheff Wed thread? Looks like they're in the shit too Link to comment Share on other sites More sharing options...
KevinRichardsonsMoustache Posted September 30, 2023 Share Posted September 30, 2023 Fit and proper owners test. Yup, doing a cracking job. 1 Link to comment Share on other sites More sharing options...
Brumstopdogs Posted October 1, 2023 Share Posted October 1, 2023 They had another protest yesterday during the match where the game was stopped due to fans throwing tennis balls on the pitch. Sad times for them. Link to comment Share on other sites More sharing options...
The_Steve Posted October 1, 2023 Share Posted October 1, 2023 The EFL isn’t fit for purpose. Very sad to see more shoddy owners bleeding clubs dry. This was totally avoidable with due diligence. Link to comment Share on other sites More sharing options...
Villaphan04 Posted January 13 Author Share Posted January 13 as @The_Steveposted in another thread, the situation with Reading is extremely dire. Today, fans stormed the pitch and caused the match to be abandoned. They were in a similar situation to us when we had Xia, but they haven't been able to get sold. On 01/10/2023 at 08:10, The_Steve said: The EFL isn’t fit for purpose. Very sad to see more shoddy owners bleeding clubs dry. This was totally avoidable with due diligence. I think I read somewhere that this owner, Dai, was rejected by the PL due diligence before taking over reading. 2 Link to comment Share on other sites More sharing options...
Zatman Posted January 13 Share Posted January 13 8 minutes ago, Villaphan04 said: as @The_Steveposted in another thread, the situation with Reading is extremely dire. Today, fans stormed the pitch and caused the match to be abandoned. They were in a similar situation to us when we had Xia, but they haven't been able to get sold. I think I read somewhere that this owner, Dai, was rejected by the PL due diligence before taking over reading. He nearly bought Hull but not sure why didn't go through Link to comment Share on other sites More sharing options...
sne Posted January 13 Share Posted January 13 1 Link to comment Share on other sites More sharing options...
The_Steve Posted January 13 Share Posted January 13 Fully support Reading fans here. **** the EFL leadership for allowing this to happen. Link to comment Share on other sites More sharing options...
sidcow Posted January 13 VT Supporter Share Posted January 13 (edited) 1 hour ago, Villaphan04 said: I think I read somewhere that this owner, Dai, was rejected by the PL due diligence before taking over reading. They should never have allowed the Welsh in. Edited January 13 by sidcow Link to comment Share on other sites More sharing options...
MachoFantastico Posted January 13 Share Posted January 13 Can't blame the fans for their actions today. Dai is infamous for buying clubs and slowly destroying them, it's disgusting the way he is being allowed to run that club. Sadly, without urgent action, I suspect Reading won't exist for much longer. Link to comment Share on other sites More sharing options...
The_Steve Posted January 13 Share Posted January 13 Yongge Dai should not have ever got approval to begin with. Especially with the failed Hull buyout. If they had no issues, why did the EFL insist on enhanced financial monitoring if they were fit and proper to begin with? The whole thing stank. It's really just sad to see. Link to comment Share on other sites More sharing options...
The_Steve Posted January 15 Share Posted January 15 EFL now telling their owner to fund the club or sell. You let him buy it to begin with! Link to comment Share on other sites More sharing options...
MapleVilla Posted January 15 Share Posted January 15 12 minutes ago, The_Steve said: EFL now telling their owner to fund the club or sell. You let him buy it to begin with! Which isn't something that happens overnight. I hope they're not completely **** over, but it doesn't look good at all for them. Link to comment Share on other sites More sharing options...
The_Steve Posted January 20 Share Posted January 20 Huge kudos to the fans who keep protesting Link to comment Share on other sites More sharing options...
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