I think it’s only right they get relegated this season… and that has nothing to do with the fact that I put 50/1 on it early on in the season when I, very incorrectly as it happens, thought they’d completely fold when they lost Selles. 👀
It becomes very messy for the EFL unless they get taken over. I hope they do, they have done well to be in the position they are with all the issues they face and you shouldn't want to benefit from a team going out of business to succeed.
Rock and a hard place for the EFL. They're hope is that there is enough in place by today to convince everyone that it's worth postponing any punishment till seasons end. If the current bid collapses or terms between the parties are nowhere close then they will have little choice but to expel Reading, failure to do so would bring their rule structure into disrepute, they would also face huge criticism if they let the season play out and then declared Reading are out. Hope Reading make it but I'm not sure this is the end of the story.
"Reading Football Club can confirm further progress has been made towards the sale of the club, with the transaction including the Select Car Leasing Stadium and Bearwood Park Training Facility. As a result, The EFL has agreed for a further extension until May 5th for the transaction to be completed.
The terms of the deal have been agreed between the club's current owner Mr Dai and the buyer, whose identity must remain confidential at this stage. Both parties will now work to complete the necessary steps to complete the takeover.
The buying party will be supporting the club’s immediate financial obligations until the transaction is complete, and as such, day-to-day running of the club will be unaffected.
The club would like to thank all supporters, staff, and players for their contribution to the club in recent times. The performance at First Team and Academy level has been outstanding and all attention is on supporting the teams to finish the season strongly."
Wouldn’t be surprised if he ‘sold’ it to a front of himself.
can’t understand why anyone would undertake the following before attaining ownership
‘The buying party will be supporting the club’s immediate financial obligations until the transaction is complete’
Didn’t we have a prospective owner start contributing towards this overheads before actually taking ownership in the recent past? Have I imagined that?
Wouldn’t be surprised if he ‘sold’ it to a front of himself.
can’t understand why anyone would undertake the following before attaining ownership
‘The buying party will be supporting the club’s immediate financial obligations until the transaction is complete’
This.
Didn't think this was allowed. Isn't there some EFL rule not being able to service a club when you are not the owner.
All sounds very fishy to me. As I said this afternoon on the other Reading thread....just more can kicking.
Basically the EFL dont want to do anything whilst the season is "live". Firstly they are hoping that Reading dont make the play offs but if they do they must be really hoping the dont get to the final.....or God forbid win & get promoted.
All hell will be let lose if they do & the sale falls through.
Edit.
Has the title of the thread changed ? I thought this was a different thread as I posted earlier on one about a points deduction.
Personally I think it’s the correct decision. Where I think The EFL made their mistake was by giving deadlines without consequence. As soon as the first deadline was missed there should have been an immediate points deduction. Same with second. Certainly every effort should have been made to give the buyer and seller time to conclude a deal but there should’ve been consequences. This will now rattle on with the likely outcome of Reading getting a new owner which is good but ridiculously without suffering in any meaningful way. The EFL are a disgrace.
I hope the EFL have been clear to them that the 5 May is actually a FINAL deadline and that if it isn't resolved by then, they won't be able to compete in the play offs. Otherwise what is to stop the owner delaying it further to see if they get promoted? That'd make the club worth a hell of a lot more.
Although i suppose it's possible there is a clause in the deal that the prospective new owner pays more if they go up.
Wouldn’t be surprised if he ‘sold’ it to a front of himself.
can’t understand why anyone would undertake the following before attaining ownership
‘The buying party will be supporting the club’s immediate financial obligations until the transaction is complete’
Didn’t we have a prospective owner start contributing towards this overheads before actually taking ownership in the recent past? Have I imagined that?
Comments
The terms of the deal have been agreed between the club's current owner Mr Dai and the buyer, whose identity must remain confidential at this stage. Both parties will now work to complete the necessary steps to complete the takeover.
The buying party will be supporting the club’s immediate financial obligations until the transaction is complete, and as such, day-to-day running of the club will be unaffected.
The club would like to thank all supporters, staff, and players for their contribution to the club in recent times. The performance at First Team and Academy level has been outstanding and all attention is on supporting the teams to finish the season strongly."
can’t understand why anyone would undertake the following before attaining ownership
‘The buying party will be supporting the club’s immediate financial obligations until the transaction is complete’
Didn't think this was allowed. Isn't there some EFL rule not being able to service a club when you are not the owner.
All sounds very fishy to me. As I said this afternoon on the other Reading thread....just more can kicking.
Basically the EFL dont want to do anything whilst the season is "live". Firstly they are hoping that Reading dont make the play offs but if they do they must be really hoping the dont get to the final.....or God forbid win & get promoted.
All hell will be let lose if they do & the sale falls through.
Edit.
Has the title of the thread changed ? I thought this was a different thread as I posted earlier on one about a points deduction.
Although i suppose it's possible there is a clause in the deal that the prospective new owner pays more if they go up.
Reading FC | Club Statement
As a result the EFL are happy to extend the deadline for the divestment of Mr Dai Yongge’s shareholding until its next Board Meeting on 8 May.
I've not idea if he actually did.