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Post by rickyqpr on Jun 27, 2023 7:06:39 GMT
Reading are facing a winding up order.
How does this keep happening? The one thing that FFP was supposed to do - when in fact I guess all it does is stop it happening even more!
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Post by robindubois on Jun 27, 2023 7:28:50 GMT
and I assume another points deduction to start the season if they survive that long - unless the EFL take the insane action and apply it to last season.
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Post by rickyqpr on Jun 28, 2023 12:53:05 GMT
www.readingchronicle.co.uk/sport/23616582.reading-fc-stakeholders-take-blame-mismanagement/Something of a horror read about Reading's current dilemma. Some familiar names and themes though. 'Denied from purchasing Hull City in the Premier League, Mr Dai managed to cruise through the EFL’s Owner and Director's Test and purchase Reading Football Club'. 'His relationship with 'super-agent' Kia Joorabchian is a difficult issue to pin down. A controversial figure in football long before his association with Reading, Joorabchian’s friendship with the owner is one that deeply unsettles supporters.'
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Post by rickyqpr on Jul 15, 2023 18:55:11 GMT
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Post by robindubois on Jul 16, 2023 8:48:46 GMT
Amos at Reading would be the right level if they can keep him fit. Shodipo would probably do OK but still maybe only a fringe player. Furlong is an interesting point. We know we have yoyo clubs bouncing back and forwards between the PL and Championship but I also believe there are many yoyo players. Good at the top of the Championship but not quite making it at PL level. I would probably put Furlong in that category. The big issue is that being with a yoyo club and getting paid in the PL these yoyo players are too expensive for most of the championship clubs unless they either go on a loan or take a big cut is salary. Furlong would be ideal for us now. Will he be prepared to drop salary? I doubt it, would family influence get him back? I doubt it, Will there be other Championship clubs after hm and able to outbid us on wages? definitely imo. |
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Post by rickyqpr on Jul 16, 2023 12:40:17 GMT
Amos at Reading would be the right level if they can keep him fit. Shodipo would probably do OK but still maybe only a fringe player. Furlong is an interesting point. We know we have yoyo clubs bouncing back and forwards between the PL and Championship but I also believe there are many yoyo players. Good at the top of the Championship but not quite making it at PL level. I would probably put Furlong in that category. The big issue is that being with a yoyo club and getting paid in the PL these yoyo players are too expensive for most of the championship clubs unless they either go on a loan or take a big cut is salary. Furlong would be ideal for us now. Will he be prepared to drop salary? I doubt it, would family influence get him back? I doubt it, Will there be other Championship clubs after hm and able to outbid us on wages? definitely imo. WBA in a lot of trouble this season. They, like us, have to sell anyone with a value, and Darnell still has a year on his contract. So they will want a fee......and that will rule QPR out! If he is remains at WBA then he is a free agent in a year's time. |
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Post by rickyqpr on Jul 17, 2023 8:07:18 GMT
Reading had 6 trialists and a debutant on Saturday.
Transfer embargo lifted but.......
And we think we have problems!
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Post by robindubois on Jul 17, 2023 10:21:49 GMT
Reading had 6 trialists and a debutant on Saturday. Transfer embargo lifted but....... And we think we have problems! Local reports said that was the strongest team they could put out and the only 2 trialists who showed anything decent were ....Amos and Shodipo. Apparently the other 4 (who have now been named) did nothing which is probably why they lost 2-0 at Sutton. |
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Post by harr on Jul 26, 2023 17:33:23 GMT
Good luck Wing, join a League One side offering 3 year contract, enjoy your wages  Maybe they wasn’t even allowed to get Wing ? |
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Post by rickyqpr on Jul 26, 2023 17:50:48 GMT
Impact on transfers
New boss Ruben Selles had hoped to add 10 signings ahead of the 2023/24 campaign, and despite four fresh faces through the door in recent weeks, the 40-year-old’s plans have been scuppered less than two weeks before the the start of the new League One season.
Reading won the race for highly-rated midfielder Charlie Savage, who arrived on a permanent deal from Manchester United, despite attracting the interest of multiple Championship clubs.
It appears the 20-year-old will now be the Royals’ last addition for some time, as the club faces a fight for its future.
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Post by robindubois on Jul 27, 2023 8:03:26 GMT
Wing was one of the 4 that had signed. Amos and Shodipo were still on trial so are back in the wilderness. Reading will be lucky to survive the season the way they are going. Even with a billionaire owner and agreed financial plan with the EFL they cannot pay the tax man. If they are late with player wages again it will be another points deduction. Have they got any decent players we could pick up for free to lessen their wage bill and the players happy to join us cheap as at least they will get paid?. I think the answer is no and at present their squad is so small they will be lucky to name a 9 man bench unless it is their youth players that played against us the other day. There is always Andy Carroll who could probably last 3 games for us before getting injured  (only joking but watch the rumour mill) Edit Apparently the owners put over 200million into trying to buy promotion to the PL only to fail in the play-off final against Huddersfield and have since gone steadily downhill. Claims the owner was given bad advice at the time - sound familiar? |
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Post by harr on Jul 27, 2023 11:42:44 GMT
Question is, would we want Wing if he becomes available ? |
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Post by Lonegunmen on Jul 27, 2023 12:12:22 GMT
I'd take Charlie Savage.
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Post by robindubois on Jul 27, 2023 12:21:15 GMT
Question is, would we want Wing if he becomes available ? No - League One player who apparently we did not make an offer to, or one who turned us down depending which ITK we read. We have cover for his position. What we need is someone to play next to Field. If we did make Wing an offer - he must have turned turned us down - so no second chance imo - let him struggle where he is or maybe where he won't be. We want committed players who want to play for the club which also makes me question the Martin situation. Maybe Wing did want to play for us and we did not offer so why would we change our opinion of him now. I would have to question if a player has signed a contract and been registered with a club by the EFL, would it be legal and within EFL authority to deregister the player and not allow him to play. That seems a step too far to me and very harsh on Reading and the player even under these wonderful FFP rules - unless that sort of action is in the agreement between the club and the EFL and was known tp th player as a possibility. Anyway it puts our situation into perspective and also shows where we could have ended up, and still could if the club satisfied the extreme posters on "X" who cannot get it through their brains that we do not have money to spare within FFP. |
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Post by robindubois on Jul 27, 2023 12:28:42 GMT
Bit short on experience but seems highly rated - so why did he join Reading when others were interested. Maybe following his dad's advice? Tim I. from Villa for me. |
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Post by bristolpete on Jul 27, 2023 13:39:03 GMT
I read somewhere that Lee Hoos had said Tim I won't happen
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Post by robindubois on Jul 27, 2023 14:47:08 GMT
I read somewhere that Lee Hoos had said Tim I won't happen Have not seen that but I expect it is very very unlikely to happen - but no harm in wishing for better than Wing and a few other names kicking around. |
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Post by harr on Jul 29, 2023 19:15:02 GMT
Reading looking like no transfers for 3 windows And 1 or 2 players just bought might end up with terminated contracts |
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Post by rickyqpr on Jul 30, 2023 15:57:38 GMT
Reading manager Ruben Selles has revealed he has been reassured by owner Dai Yongge that the club's outstanding HMRC debt will be paid, speaking to Reading Today.
The Royals could now be under a transfer embargo for three windows (including this one) after this latest tax bill saga, with the club being placed under another embargo on Friday, just a short time after it had been lifted after the last HMRC issue was dealt with.
During the time between these two embargoes, the Berkshire outfit were able to sign four players and get a new deal for Amadou Mbengue over the line, but they are still severely short of options in many positions.
The Royals already find themselves in hot water with the EFL and with this in mind, they need to get this debt paid as quickly as possible.
Unfortunately, the Berkshire outfit are showing signs that they have liquidity problems, with the club failing to pay things on time.
Not only is HMRC an issue, but also the fact they didn't pay their players on time and in full on three occasions last season, which is worrying.
Regardless of the reason(s) why these payments have been late, the owner needs to sell up if he can't fulfil his obligations.
And it comes as no surprise that a campaign called 'Sell Before We Dai' has been set up by five Reading fan groups, with those involved calling for Mr Dai to sell the football club.
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Post by rickyqpr on Aug 17, 2023 8:45:33 GMT
EFL Statement: Reading FC
EFL Statement: Reading FC
General
16 Aug
Words: EFL
Share
Reading Football Club has today received a one-point deduction with a further three points suspended after an Independent Disciplinary Commission determined that the Club had breached EFL Regulations.
The breaches related to the Club having failed to pay its players’ wages on time and in full on or around 31 October 2022, 30 November 2022, and 28 April 2023.
Reading’s 2023/24 League One points tally will be adjusted immediately whilst Owner Dai Yongge has also been fined £10,000 and ordered to deposit an amount equal to 125% of the Club’s forecast monthly wage bill in a designated Club account, in an attempt to avoid further breaches.
If the 125% deposit is not paid within 28 days of the Independent Disciplinary Commission’s decision or there is any further failure to pay players’ salaries up until 30 June 2024, then the suspended points sanction will be activated.
The EFL remains extremely frustrated at the consistent failures of the Club’s ownership to meet its ongoing obligations under EFL Regulations, the consequences of which are having a negative impact for all those associated with Reading, particularly its staff members, supporters, and local community.
Whilst we acknowledge the independence of the commission and the sanction imposed, this outcome does fall some way short of the League’s existing sanctioning guidelines. The EFL will now undertake a full review of the decision issued, taking into consideration the recent previous sanctions imposed on the Club and their subsequent impact.
G
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Post by robindubois on Aug 17, 2023 9:14:33 GMT
A sad state of affairs but a couple of things I find difficult to rationalise.
There have been repeated warnings to Reading, the breaches are re-occurring and in this case cover October 22 to April 23 and yet they only impose a 1 point deduction while others have suffered worse. If the EFL really want to get tough with a repeat offender one point hardly seems to fit the bill.
Secondly the owner has been instructed to place 125% of the monthly salary bill in an account to ensure the wages are paid. Now under FFP if our shareholders put 5 million on an account to ensure we can pay a transfer fee we would be in breach of FFP rules. Is it that owners can pile in cash to pay wages but not to cover other expenses or fees? They all go straight to the clubs P&L and operating costs.
I can understand the EFL wanting to protect players income but it just seems a little inconsistent although it is interesting that the points deduction is for breaching EFL regulations, not for violating FFP. In effect clubs are now monitored from a financial viewpoint both through FFP and EFL regulations - a minefield for clubs and owners to work through with potential club changing consequences if they get it wrong. Again a message for our impatient fans who cannot get it through their heads that the approach the club is taking at present in terms of transfer policy and cost control is the only way forward.
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Post by rickyqpr on Aug 17, 2023 9:52:49 GMT
A sad state of affairs but a couple of things I find difficult to rationalise. There have been repeated warnings to Reading, the breaches are re-occurring and in this case cover October 22 to April 23 and yet they only impose a 1 point deduction while others have suffered worse. If the EFL really want to get tough with a repeat offender one point hardly seems to fit the bill. I was going to post something similar. One point seems lenient to me. Wigan on the other hand seem to have been hit harder with 8 points deducted - albeit for different offences. Historically, our fine was a world record and in my mind calculated based on the wealth of our owners. Without their backing there would be no QPR now. But the EFL knew they could afford it (I know we were daft though). But even our fine was nothing compared to what they hit Luton with - and although I do not like Luton, 'hats off' to them for what they have subsequently achieved. But the leniency shown to Reading, begs the question whether or not QPR would be shown equal leniency for any future indiscretions. Or will any penalty take into account our owners again? But different times, different rules and no real consistency. With regard to the placing of money into an account - I have always said that some sort of surety system could overcome so many of the risks that FFP is supposed to be protecting against. But instead, we have Chelsea buying multiple players and placing them on 8-year term deals, so the FFP is amortised over the 8 years. Whilst that is a prudent accounting solution, it hardly addresses what FFP is supposed to be achieving. If lower league clubs adopted a similar practise (and some will try) stock piling players with attitude and ambitions to play higher, who could be long term injuries or have wild social habits. would be a recipe for disaster for said clubs. I am surprised agents stand for it even in the Prem, but it is a crazy development that needs addressing, but it is further evidence that teams just want to work around FFP, and yet vote for it. It ensures bigger clubs remain so. Find an alternative rather than have a flawed system. Meanwhile, organisations are making a fortune by facilitating purchases of sporting clubs through off-shore trusts, third party disguise, overseas consortiums etc. so that potential new owners can acquire financial vehicles for their own objectives, and the EFL seem to be powerless to stop it. By the time that the EFL has realised that money laundering or asset stripping is going on it is too late. When QPR supporters call for new owners, they need to be aware that there are huge risks out there and we should be grateful for who we currently have. But we never hear of the EFL being pro-active about addressing anything of importance. Until they do, it will only get worse. |
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Post by Lonegunmen on Aug 17, 2023 11:34:18 GMT
Remember when Luton got hit with what was it? 13 points??
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Post by robindubois on Aug 17, 2023 13:09:41 GMT
Remember when Luton got hit with what was it? 13 points?? It was 30 points in 2008/9 which led to them spending 5 years in the Conference and then another 10 years to climb to the PL. At my age I don't want us to take the same route or I likely will never see us back in the Championship  . Which is why I argue against any suggestions that it would be best to be relegated so we can rebuild. We are where we are at a pretty low point so rebuild from here without taking another step backwards. |
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Post by rickyqpr on Sept 13, 2023 16:46:35 GMT
Reading docked another 3 points today.
Owner failed to deposit funds as promised.
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Post by nomar on Sept 13, 2023 17:26:59 GMT
Reading docked another 3 points today. Owner failed to deposit funds as promised. Dai Yongge is a lying sack of ……. |
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Post by rickyqpr on Sept 29, 2023 8:43:38 GMT
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Post by robindubois on Sept 29, 2023 13:19:37 GMT
Amazing but goes to show I still do not fully understand FFP. This owner claims he has to put in 2million per month to keep the club going How is that possible under FFP. We were slaughtered for over spending too much - but spending money put into the club by the owners. So it seems putting 25 million a year into the club to pay wages and expenses is ok but if owners put in the same amount to buy players they are in breach of FFP. All too much for me. On a similar note Sc*nthorpe Utd now in the National League Northern are in similar trouble with a new owner giving up after 6 months and withdrawing funding, the club being evicted from their ground and likely another long time league club heading for end. Reading - sorry for th fans but the owner/club is getting what it deserves. |
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Post by rickyqpr on Dec 4, 2023 15:08:04 GMT
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(only joking but watch the rumour mill)
. Which is why I argue against any suggestions that it would be best to be relegated so we can rebuild. We are where we are at a pretty low point so rebuild from here without taking another step backwards.