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Reading ownership shenanigans - 14th May 2025 takeover complete (p7)

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  • IdleHans
    IdleHans Posts: 10,972
    His name it is Dai Yongge
    He's the king of Welsh goth

    goes through my mind every time i see it
  • Pelling1993
    Pelling1993 Posts: 6,678
    IdleHans said:
    His name it is Dai Yongge
    He's the king of Welsh goth

    goes through my mind every time i see it
    Everytime I hear his name I just think of Dai Young leaves Cardiff Rugby despite being cleared of bullying claims
  • killerandflash
    killerandflash Posts: 69,879
    There's something wrong where a club can face the ultimate sanction of being kicked out, due to an owner with no interest in the well being of the club at all. 

    It could have been us in 2020.
  • clive
    clive Posts: 19,472

    Reading reveal they lost £21m in relegation season

    https://www.bbc.co.uk/sport/football/articles/cly64g63mryo
  • Leuth
    Leuth Posts: 23,335
    IdleHans said:
    His name it is Dai Yongge
    He's the king of Welsh goth

    goes through my mind every time i see it
    There's 5 people on this server who'll know what you mean. And each of us have started our own band etc 

    We'll murder the verrrrrgerrrr
  • TelMc32
    TelMc32 Posts: 9,056
    clive said:

    Reading reveal they lost £21m in relegation season

    https://www.bbc.co.uk/sport/football/articles/cly64g63mryo
    Not good reading/Reading…a year late and only a week to file the next set.
  • Swindon_Addick
    Swindon_Addick Posts: 1,646
    A winding up petition has been issued by a player agency. Makes a change from HMRC I guess. 
    https://www.readingchronicle.co.uk/news/25043840.reading-fc-issued-winding-up-petition-player-agency/
  • Chris_from_Sidcup
    Chris_from_Sidcup Posts: 36,033
    I know this guy clearly doesn't care about clubs folding given what happened in Beijing and Belgium, but the thing i don't get is why?

    He has until next week to sell Reading or the EFL can expel them, but if that happens then what does Yongge gain from it? Surely it's better for him to sell and recoup some money than have the club booted out of the league?
  • RalphMilnesgut
    RalphMilnesgut Posts: 1,751
    Leuth said:
    IdleHans said:
    His name it is Dai Yongge
    He's the king of Welsh goth

    goes through my mind every time i see it
    There's 5 people on this server who'll know what you mean. And each of us have started our own band etc 

    We'll murder the verrrrrgerrrr
    Perhaps he would rather be some place like Bradford or Leeds.
  • Henry Irving
    Henry Irving Posts: 85,236
    I know this guy clearly doesn't care about clubs folding given what happened in Beijing and Belgium, but the thing i don't get is why?

    He has until next week to sell Reading or the EFL can expel them, but if that happens then what does Yongge gain from it? Surely it's better for him to sell and recoup some money than have the club booted out of the league?
    My guess is that he has loans or other liabilities linked to the club or ground that he can't easily walk away from.

    He is also a greedy crook and they always think there is another penny to be made by holding out.

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  • Sheepie1985
    Sheepie1985 Posts: 483
    What annoys me is where is the EFL and putting it's hands up and saying sorry for approving this guy on the Fit & Proper ownership test? It's because of them allowing the conman to buy the club that the situation has come to this, yet rather than take any responsibility... they threaten to throw Reading out of the league. I just don't get it. 
  • I know this guy clearly doesn't care about clubs folding given what happened in Beijing and Belgium, but the thing i don't get is why?

    He has until next week to sell Reading or the EFL can expel them, but if that happens then what does Yongge gain from it? Surely it's better for him to sell and recoup some money than have the club booted out of the league?
    My guess is that he has loans or other liabilities linked to the club or ground that he can't easily walk away from.

    He is also a greedy crook and they always think there is another penny to be made by holding out.
    It could be there’s nothing left to sell. If they lost £21 million in 2022/23 and £17m the season before that’s £38m alone and those losses probably have continued with relegation. It sounds like the ground and training ground may be encumbered so basically it’s only the value of the football licence/EFL membership that’s likely to have any value but keeping that going may be costing far more than any value and if there’s nothing left to use to leverage against then the day to day expenses will probably have to come out of his pocket. Promotion this season via the play offs might have some value to a potential buyer but if not pushing the EFL’s bluff and drawing a line under everything and walking away might be a better option that’s in play. That’s a pretty good location and sizeable footprint right next to the M4 that might have plenty of residual value if put to other use.
  • fenaddick
    fenaddick Posts: 11,189
    What annoys me is where is the EFL and putting its hands up and saying sorry for approving this guy on the Fit & Proper ownership test? It's because of them allowing the conman to buy the club that the situation has come to this, yet rather than take any responsibility... they threaten to throw Reading out of the league. I just don't get it. 
    I don’t know the intricacies of it but as far as I’m aware he’d never done anything that would disqualify him when he thought the club. The EFL can’t fail him because they have a hunch he might become a bad owner a few years down the line 
  • golfaddick
    golfaddick Posts: 33,643
    fenaddick said:
    What annoys me is where is the EFL and putting its hands up and saying sorry for approving this guy on the Fit & Proper ownership test? It's because of them allowing the conman to buy the club that the situation has come to this, yet rather than take any responsibility... they threaten to throw Reading out of the league. I just don't get it. 
    I don’t know the intricacies of it but as far as I’m aware he’d never done anything that would disqualify him when he thought the club. The EFL can’t fail him because they have a hunch he might become a bad owner a few years down the line 
    This. 

    The owners & directors test is a very low bar to get over. Unless you've been previously struck off or bankrupt then there isnt much else barring you from being an owner. 

    One of ESI mk2 failed it.......but only because they filled out the form incorrectly 😂.
  • North Lower Neil
    North Lower Neil Posts: 22,960
    fenaddick said:
    What annoys me is where is the EFL and putting its hands up and saying sorry for approving this guy on the Fit & Proper ownership test? It's because of them allowing the conman to buy the club that the situation has come to this, yet rather than take any responsibility... they threaten to throw Reading out of the league. I just don't get it. 
    I don’t know the intricacies of it but as far as I’m aware he’d never done anything that would disqualify him when he thought the club. The EFL can’t fail him because they have a hunch he might become a bad owner a few years down the line 
    Exactly, it's basically a 'have they got some money or any concerning convictions' test - doesn't guarantee they are a good owner.
  • se9addick
    se9addick Posts: 32,051
    fenaddick said:
    What annoys me is where is the EFL and putting its hands up and saying sorry for approving this guy on the Fit & Proper ownership test? It's because of them allowing the conman to buy the club that the situation has come to this, yet rather than take any responsibility... they threaten to throw Reading out of the league. I just don't get it. 
    I don’t know the intricacies of it but as far as I’m aware he’d never done anything that would disqualify him when he thought the club. The EFL can’t fail him because they have a hunch he might become a bad owner a few years down the line 
    This. 

    The owners & directors test is a very low bar to get over. Unless you've been previously struck off or bankrupt then there isnt much else barring you from being an owner. 

    One of ESI mk2 failed it.......but only because they filled out the form incorrectly 😂.
    Yep, a lot of people really take the idea of the fit and proper persons test to heart. It’s not what they think it is. 
  • SteveACS
    SteveACS Posts: 377
    fenaddick said:
    What annoys me is where is the EFL and putting its hands up and saying sorry for approving this guy on the Fit & Proper ownership test? It's because of them allowing the conman to buy the club that the situation has come to this, yet rather than take any responsibility... they threaten to throw Reading out of the league. I just don't get it. 
    I don’t know the intricacies of it but as far as I’m aware he’d never done anything that would disqualify him when he thought the club. The EFL can’t fail him because they have a hunch he might become a bad owner a few years down the line 
    The killer for me about the 'fit and proper' test, was when Portsmouth had 4 owners in one season...

    Which was the season the were relegated from the Premer League.
  • TelMc32
    TelMc32 Posts: 9,056
    fenaddick said:
    What annoys me is where is the EFL and putting its hands up and saying sorry for approving this guy on the Fit & Proper ownership test? It's because of them allowing the conman to buy the club that the situation has come to this, yet rather than take any responsibility... they threaten to throw Reading out of the league. I just don't get it. 
    I don’t know the intricacies of it but as far as I’m aware he’d never done anything that would disqualify him when he thought the club. The EFL can’t fail him because they have a hunch he might become a bad owner a few years down the line 
    And yet the Premier League barred him when he tried to buy Hull City in 2016. He’d paid a £6m deposit to the Allam family and rocked up to the first game of the season before the PL said no. 

    Something obviously wasn’t right and I think Reading fans deserve to be told whether there was any communication from the EFL to the PL to find out what led to their refusal to let him in. 
  • MarcusH26
    MarcusH26 Posts: 8,057
    TelMc32 said:
    fenaddick said:
    What annoys me is where is the EFL and putting its hands up and saying sorry for approving this guy on the Fit & Proper ownership test? It's because of them allowing the conman to buy the club that the situation has come to this, yet rather than take any responsibility... they threaten to throw Reading out of the league. I just don't get it. 
    I don’t know the intricacies of it but as far as I’m aware he’d never done anything that would disqualify him when he thought the club. The EFL can’t fail him because they have a hunch he might become a bad owner a few years down the line 
    And yet the Premier League barred him when he tried to buy Hull City in 2016. He’d paid a £6m deposit to the Allam family and rocked up to the first game of the season before the PL said no. 

    Something obviously wasn’t right and I think Reading fans deserve to be told whether there was any communication from the EFL to the PL to find out what led to their refusal to let him in. 

    This for me is the key point with Dai, that he had previously failed to buy Hull because red flags had been raised. I think you're absolutely bang on that the EFL need to come out and say if there was anything communicated from the PL about Dais failed attempt to buy Hull 
  • clive
    clive Posts: 19,472
    A very interesting interview with Rob Couhig former owner of Wycombe & prospective owner of Reading.
    https://www.youtube.com/watch?v=PuW8acbuNu0

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  • TelMc32
    TelMc32 Posts: 9,056
    They’ve just been given an extension from this Saturday until 22 April for Yongge to sell the club. 

  • golfaddick
    golfaddick Posts: 33,643
    edited April 3
    TelMc32 said:
    They’ve just been given an extension from this Saturday until 22 April for Yongge to sell the club. 

    Quelle surprise Raquel !!

    You can always rely on the EFL to fudge their responsibilities & to let clubs off the hook.

    When is a deadline not a deadline ? When you work for the EFL.
  • Athletico Charlton
    Athletico Charlton Posts: 14,282
    TelMc32 said:
    They’ve just been given an extension from this Saturday until 22 April for Yongge to sell the club. 


    Good news for them.
  • 19addickted96
    19addickted96 Posts: 475
    as good as it is for the Reading fans, it does make somwhat a mockery of the whole set of rules The EFL play by - if they just keep extending the suspension threat. 

    Surely if you have rules, you have to stick to them rather than the case by case translation and reading of the rules
  • golfaddick
    golfaddick Posts: 33,643
    as good as it is for the Reading fans, it does make somwhat a mockery of the whole set of rules The EFL play by - if they just keep extending the suspension threat. 

    Surely if you have rules, you have to stick to them rather than the case by case translation and reading of the rules.
    Exactly. 

    And if they do get to the April 22nd deadline & the club has still not been sold do you really think the EFL are going to suspend them with less than 2 weeks of the season left. Do me a favour.

    The deadline in reality is May 4th. Or if Reading are in the play offs then May 26th. 

    You read it here first. 
  • Todds_right_hook
    Todds_right_hook Posts: 10,885
    Maybe a deal is close, hence the extension?

    it would be unfair if a new owner is going through the fit and proper test with the ball being firmly in the efl’s court, only for the efl to kick them out of the league for not being sold!
  • as good as it is for the Reading fans, it does make somwhat a mockery of the whole set of rules The EFL play by - if they just keep extending the suspension threat. 

    Surely if you have rules, you have to stick to them rather than the case by case translation and reading of the rules.
    Exactly. 

    And if they do get to the April 22nd deadline & the club has still not been sold do you really think the EFL are going to suspend them with less than 2 weeks of the season left. Do me a favour.

    The deadline in reality is May 4th. Or if Reading are in the play offs then May 26th. 

    You read it here first. 
    What a shambles it will be after they beat us in the play off final….
  • JustFloydRoad
    JustFloydRoad Posts: 1,627
    edited April 4
    When you remember what has happened to our club  in the past surely the EFL should be given credit for trying to keep Reading operating. Penalise the owner  but not the club and supporters. 
    as good as it is for the Reading fans, it does make somwhat a mockery of the whole set of rules The EFL play by - if they just keep extending the suspension threat. 

    Surely if you have rules, you have to stick to them rather than the case by case translation and reading of the rules.
    Exactly. 

    And if they do get to the April 22nd deadline & the club has still not been sold do you really think the EFL are going to suspend them with less than 2 weeks of the season left. Do me a favour.

    The deadline in reality is May 4th. Or if Reading are in the play offs then May 26th. 

    You read it here first. 
    What a shambles it will be after they beat us in the play off final*….
    Think the EFL are better off leaving it till the end of the season imo.

    * should said scenario happen though (who they beat in a hypothetical play off final). If this situation is delayed for that long and they still haven't found anyone. Lawyers will be primed (sad if it is our club) and ready for that compensation cash.
  • Chris_from_Sidcup
    Chris_from_Sidcup Posts: 36,033
    as good as it is for the Reading fans, it does make somwhat a mockery of the whole set of rules The EFL play by - if they just keep extending the suspension threat. 

    Surely if you have rules, you have to stick to them rather than the case by case translation and reading of the rules.
    Exactly. 

    And if they do get to the April 22nd deadline & the club has still not been sold do you really think the EFL are going to suspend them with less than 2 weeks of the season left. Do me a favour.

    The deadline in reality is May 4th. Or if Reading are in the play offs then May 26th. 

    You read it here first. 
    The EFL are not going to kick a club the size of Reading out, unless they are given no other choice (ie. this drags on into the summer). The 22nd April definitely won't be a proper deadline either, they'll just be given a 'final warning' or something like that and they'll then get to the end of the season. They'll then get a 'final final warning' that will take them up until the EFL have their AGM in early June (it's usually 1-2 weeks after the play off finals), as it would surely need to be resolved by then.

    Realistically the EFL will want to give Reading as much time as possible to resolve this, whilst at the same time probably secretly hoping that they don't make the play offs, as it would be very awkward if they got promoted and then had to be suspended from the league.

    I fully expect this will all get resolved eventually and i'd be amazed if we ever get to a point where they are kicked out.