Reading financial issues - under transfer embargo 7/10/2024 (p3)
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True but they effectively replaced us, and we got relegated because the EFL don’t have any consistency and inexplicably deducted Sheffield Wednesdays’s points a season after they broke the rules.7
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In the next episode, these fella's arrive with a minibus to remove players to cover the debt.........
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It was also said at the time there remaining fixtures were considerably tougher than those around them so there's no guarantee they would have made the top six, probably would have missed out if the season had fully completed. Incredibly weird how the league voted to end the season early yet have the play offs. Should have cancelled the season altogether if they didn't want to continue.Kips said:
When the season was halted Wycombe were 8th having played 34 games with at least one game in hand on all 5 teams directly above them. They were level on points with 6th and only 1 point behind 3rd and so it was an incredibly tight division and would have been equally unfair whichever way it was decided by the EFL.MartinCAFC said:Never been too keen on Wycombe after they got gifted a place in The Championship when they were midtable in League One when covid hit yet PPG saw them get a jammy place in the play offs which they did ultimately win but shouldn't have made in the first place. That didn't sit right with me then and seems they could now be gifted Reading's training ground too by the sounds of things.
Had Charlton missed out on the play offs in the same position as Wycombe, I'd have been pretty miffed.1 -
Midtable is a stretch.MartinCAFC said:Never been too keen on Wycombe after they got gifted a place in The Championship when they were midtable in League One when covid hit yet PPG saw them get a jammy place in the play offs which they did ultimately win but shouldn't have made in the first place. That didn't sit right with me then and seems they could now be gifted Reading's training ground too by the sounds of things.
They were 8th, only outside of the playoffs on goal difference having played less games?
If they'd have won their game in hand they'd have been 3rd, only outside the top 2 on goal difference.
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Wycombe Wanderers Football Club are putting on hold provision for funding to Reading Football Club and the acquisition of the Bearwood Park training facility from its owners.
A little over a week ago, Reading Football Club announced that it was selling its training ground. Wycombe’s majority investor, Feliciana EFL Ltd, made a proposal to purchase the grounds. Many of the details were still to be worked out, including potential sharing with Reading and how to ensure a smooth transition.
Importantly, it was agreed that while the details were being finalised and due diligence carried out, Feliciana would provide sufficient financing to Reading to allow it to pay its tax obligations and operating expenses, including payroll for the staff and players.
It was Wycombe and Feliciana’s belief that they were helping Reading and professional football with the offer to assist its neighbour in a manner that had historically been used in the past by many football clubs. Indeed, Wycombe’s own training ground had been sold over a decade ago to reduce operating expenses and fund the club when the club had its own financial issues.
Wycombe Wanderers Football Club and Feliciana have to put on hold the discussions and ongoing due diligence due to seeming planning limitations allowing only Reading FC to use the training grounds.
Wycombe continues to wish its neighbours good luck in solving its issues. For its part, Wycombe will continue its search for a training ground that meets its ambitions for the Club.
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It probably didn't stop him trying though.Henry Irving said:
True but still one club benefiting from another's demise.SELR_addicks said:
Training ground feels a lot more difficult to rebuild though no?Henry Irving said:
No different from other clubs snapping up their players on the cheap in JanuarySELR_addicks said:Would hope there would be a clause where Reading can purchase the land back for the same price + interest when the next owner comes along.
Otherwise it's Wycombe benefitting from another club's demise like a vulture. I'm sure they'd see it as 'doing them a favour' when it's actually the complete opposite if it's a cut price sale.
Like if Southall would've sold Sparrows Lane I wouldn't just liken that to selling a Jenkinson or Gomez for example.
And Southall couldnt have sold Sparrows Lane as he never owned it.
Roland still does.3 -
I wish someone would change the title of this thread because every time it pops up it think they have been deducted another two points. They should be on -50 points by now.20
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That kind of seems like the sort of thing you might want to check before announcing an intention to purchase. Ouch.Henry Irving said:Wycombe Wanderers Football Club are putting on hold provision for funding to Reading Football Club and the acquisition of the Bearwood Park training facility from its owners.
A little over a week ago, Reading Football Club announced that it was selling its training ground. Wycombe’s majority investor, Feliciana EFL Ltd, made a proposal to purchase the grounds. Many of the details were still to be worked out, including potential sharing with Reading and how to ensure a smooth transition.
Importantly, it was agreed that while the details were being finalised and due diligence carried out, Feliciana would provide sufficient financing to Reading to allow it to pay its tax obligations and operating expenses, including payroll for the staff and players.
It was Wycombe and Feliciana’s belief that they were helping Reading and professional football with the offer to assist its neighbour in a manner that had historically been used in the past by many football clubs. Indeed, Wycombe’s own training ground had been sold over a decade ago to reduce operating expenses and fund the club when the club had its own financial issues.
Wycombe Wanderers Football Club and Feliciana have to put on hold the discussions and ongoing due diligence due to seeming planning limitations allowing only Reading FC to use the training grounds.
Wycombe continues to wish its neighbours good luck in solving its issues. For its part, Wycombe will continue its search for a training ground that meets its ambitions for the Club.
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Wonder what the delay is with Man City?0
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CLUB STATEMENT
The Club can confirm Mr Dai has committed to a letter of intent with a potential purchaser of Reading Football Club.
The parties will now enter a period of exclusive negotiation to agree the final terms. The completion is expected to take up to two months, at which time the purchaser will be announced.
The transaction would include the transfer of Mr Dai’s shareholding in The Reading Football Club Limited, as well as the Select Car Leasing Stadium and Bearwood Park training ground.
https://www.readingfc.co.uk/news/2024/march/26/Club-Statement-26Mar24/
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Good news for them and glad they'll be rid of Dai Yongge although i do hope their new owner isn't someone loaded who will have them pushing for promotion next season.4
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🎶 royals to victory 🎶3
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Seen a few rumours on Twitter it could be the Wilf family that own the Minnesota Vikings and Orlando City FC that are the preferred bidders.0
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Hope they get some decent, but tight owners who arent interested in winning promotion next season1
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https://www.thefa.com/news/2024/may/13/reading-fc-sanctioned-140524
More dodgy dealings at Reading.
Club and some individuals sanctioned0 -
What's the update on this, anyone know?clive said:CLUB STATEMENT
The Club can confirm Mr Dai has committed to a letter of intent with a potential purchaser of Reading Football Club.
The parties will now enter a period of exclusive negotiation to agree the final terms. The completion is expected to take up to two months, at which time the purchaser will be announced.
The transaction would include the transfer of Mr Dai’s shareholding in The Reading Football Club Limited, as well as the Select Car Leasing Stadium and Bearwood Park training ground.
https://www.readingfc.co.uk/news/2024/march/26/Club-Statement-26Mar24/
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https://www.wwfc.com/news/2024/june/10/wycombe-wanderers-secure-harlington-training-facilities/Henry Irving said:Wycombe Wanderers Football Club are putting on hold provision for funding to Reading Football Club and the acquisition of the Bearwood Park training facility from its owners.
A little over a week ago, Reading Football Club announced that it was selling its training ground. Wycombe’s majority investor, Feliciana EFL Ltd, made a proposal to purchase the grounds. Many of the details were still to be worked out, including potential sharing with Reading and how to ensure a smooth transition.
Importantly, it was agreed that while the details were being finalised and due diligence carried out, Feliciana would provide sufficient financing to Reading to allow it to pay its tax obligations and operating expenses, including payroll for the staff and players.
It was Wycombe and Feliciana’s belief that they were helping Reading and professional football with the offer to assist its neighbour in a manner that had historically been used in the past by many football clubs. Indeed, Wycombe’s own training ground had been sold over a decade ago to reduce operating expenses and fund the club when the club had its own financial issues.
Wycombe Wanderers Football Club and Feliciana have to put on hold the discussions and ongoing due diligence due to seeming planning limitations allowing only Reading FC to use the training grounds.
Wycombe continues to wish its neighbours good luck in solving its issues. For its part, Wycombe will continue its search for a training ground that meets its ambitions for the Club.
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Takeover update & transfer embargo status
Reading Football Club can provide an update to all stakeholders, especially its supporters, regarding the ongoing sales process and transfer embargo status.
The Club can confirm it has agreed to a period of exclusivity with a potential purchaser. Both parties are working hard to finalise terms with the intention to complete a sale at the earliest opportunity. This exclusivity period also includes further provision to fund the club until the transaction’s intended completion.
The proposed sale will include Mr Dai’s shareholding in The Reading Football Club Limited, as well as the Select Car Leasing Stadium and Bearwood Park Training Ground.
As of today, the Club can also confirm that - alongside the requirement to operate under the terms of its business plan - it has today been placed under a formal registration embargo by the EFL (English Football League).
This embargo has been implemented, as per EFL regulations, due to the late filing of financial accounts to Companies House, and relates to the 2022-23 accounting period. We are working closely with our auditing partner to finalise these accounts at the earliest opportunity – at which point the embargo will be lifted immediately.
Further developments for both the takeover and embargo status will be communicated at the earliest opportunity, and the Club and would like to thank all supporters and staff for their patience during this time.
https://www.readingfc.co.uk/news/2024/october/07/club-statement/
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And because we were shitejimmymelrose said:True but they effectively replaced us, and we got relegated because the EFL don’t have any consistency and inexplicably deducted Sheffield Wednesdays’s points a season after they broke the rules.
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At least the potential purchaser is discussing buying the club and ground.0
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Rumoured to be Farhad Moshiri. Out of the frying pan....se9addick said:At least the potential purchaser is discussing buying the club and ground.0 -
Great punishment......file your accounts late & get put under a transfer embargo. Problem is the transfer window is now closed for 3 months (apart from signing free transfers). So effectively no consequences.
How about having a punishment that actually means something.6 -
I kind of agree but in this situation what would that be? Fining them makes it worse & a points deduction makes no difference to the owner as he doesn't caregolfaddick said:Great punishment......file your accounts late & get put under a transfer embargo. Problem is the transfer window is now closed for 3 months (apart from signing free transfers). So effectively no consequences.
How about having a punishment that actually means something.0 -
Surely the FA own the Golden Ticket and can withdraw that, leaving the owner with contracted players, a huge stadium but a future playing in level eight or lower.sam3110 said:"I'm not paying a penny more"
"We'll fine you for that"
"And I won't pay that"
"So we'll fine you again"
"And if I don't pay that fine or the original fine, or the original sum of the wage bill?"
"We'll fine you again"
Fucking clueless, if I don't pay the bills on my house it gets repossessed, maybe there should be a way clubs can be defaulted and become property of The Football League? Drastic I know but I fail to see any other way clubs can be saved from this type of thing
Then let a fans consortium take it over. Should have done it with MKD.0 -
Always feel for the supporters when things go tits north at clubs but ultimately there has to be rules and meaningful sanctions for malpractices. In the final analysis it’s the football club that has to suffer the consequences of bad owners and if that results in punishing new owners seemingly unfairly then so be it. Needs to be a table of punishments that are strictly adhered to and in my view the punishments need to be made more severe. Some clubs have played the system for years.1
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The punishments need to be standard and transparent, not the EFL dishing out different deductions and fines per club. Need to also be in the season the cheat occured. We did not benefit from S Wed misdemeanours but were punished with unfair relegation.3
