League One - clubs in crisis

[Shade]

Check out this post from EFL https://www.efl.com/news/2024/february/ ... ai-yongge/

Strong words, but ultimately the EFL are completely impotent in dealing with this owner whom their own p!## poor fit and proper person test failed to prevent ruining a football club. A complete omnishambles.

But, I'm sure most on here would agree with me.
I would much prefer us to survive without taking the points deductions of other poorly run sides into account.

Prefer, of course. But, if desperate, we'll take survival due to being a better run club.

[RegencyCheltenhamSpa]

Check out this post from EFL https://www.efl.com/news/2024/february/ ... ai-yongge/

Strong words, but ultimately the EFL are completely impotent in dealing with this owner whom their own p!## poor fit and proper person test failed to prevent ruining a football club. A complete omnishambles.

But, I'm sure most on here would agree with me.
I would much prefer us to survive without taking the points deductions of other poorly run sides into account.

Whilst that would be preferable I’d happily stay up by hook crook and whatever it took. If four teams go bust or get deductions and we stay up then I’m breathing a sigh of relief.

[Jerry St Clair]

Accrington Stanley have sacked John Coleman rather unceremoniously in a 43 word statement following 23 years at the helm over two stints. Rumours of big bust ups behind the scenes.

They seem to have gone from stable, family-run exemplar to complete meltdown in a matter of months.

[Jerry St Clair]

The Reading fans group met with the EFL last week. One interesting snippet to come out is that January transfer sales are currently funding the club through February but are expected to run out in March. Unless the owner puts more money in an assigned deposit account (which he's failed to do so far) more defaults on salaries and bills are possible. Meaning potentially more points deductions.

[Robin]

Another two point deduction would be very handy for us.

[RegencyCheltenhamSpa]

Live fast, Dai Yongge.

[Warwickshire Robin]

Cambridge appoint Garry Monk as manager.

[1985CTFC]

Perfect appointment...a Monk to the Abbey stadium. Got his work cut out to get results quickly. Fans seem happy and no Adams or Grayson. Been a while with out a job though.

[longmover]

The Reading fans group met with the EFL last week. One interesting snippet to come out is that January transfer sales are currently funding the club through February but are expected to run out in March. Unless the owner puts more money in an assigned deposit account (which he's failed to do so far) more defaults on salaries and bills are possible. Meaning potentially more points deductions.

good, they need to be kicked out of the F***ing league.

[Jerry St Clair]

Not a club in crisis, but Aston Villa has posted £120m losses for last season. This is "consistent with their business strategy" and might be ok under profit and sustainability rules depending on what happens in coming years.

But the fact that this is considered normal on Planet Football shows you just how utterly ridiculous the world football finance is.

[RS1978]

The Reading fans group met with the EFL last week. One interesting snippet to come out is that January transfer sales are currently funding the club through February but are expected to run out in March. Unless the owner puts more money in an assigned deposit account (which he's failed to do so far) more defaults on salaries and bills are possible. Meaning potentially more points deductions.

good, they need to be kicked out of the F***ing league.

If recent results carry on as they are, it might be the only way that we stay up

[Jerry St Clair]

The Reading fans group met with the EFL last week. One interesting snippet to come out is that January transfer sales are currently funding the club through February but are expected to run out in March. Unless the owner puts more money in an assigned deposit account (which he's failed to do so far) more defaults on salaries and bills are possible. Meaning potentially more points deductions.

Sell Before We Dai have released a statement saying the March shortfall (I.e. the gap between income/funds and bills) is circa £1m.

If they don’t find a million quid from somewhere in the next couple of weeks to pay staff, players etc there will be a points deduction incoming. Probably 2, which will drop them to 37 points as things stand.

Loads could change, but watch this space.

[PCrobin]

I am starting to think that another Reading points deduction is the only way we are going to stay in League One..

[Si Robin]

I'm ambivalent to Reading's plight.

On one hand, they're clearly being diddled by someone who should never have been allowed to take ownership of the club. On the other - they're surviving because in the summer they were able to apparently blow Cambridge out of the water wage wise to sign Sam Smith and Harvey Knibbs.

I'd rather stay up on sporting merit, but then sporting can also mean not spending more than you can afford in the first place.

[PCrobin]

Oh yes I'm not going to feel guilty if we stay up because of the mess they're in! Whichever way you look at it they didn't play by the rules, so tough..

[Red Duke]

I'm ambivalent to Reading's plight.

On one hand, they're clearly being diddled by someone who should never have been allowed to take ownership of the club. On the other - they're surviving because in the summer they were able to apparently blow Cambridge out of the water wage wise to sign Sam Smith and Harvey Knibbs.

I'd rather stay up on sporting merit, but then sporting can also mean not spending more than you can afford in the first place.

I am not. They have cheated by signing better players that they couldn't afford. The quicker the points deduction made then the better, or better still, expunge their record for this season and treat them like they did to Bury and Macclesfield and get them to start at the bottom like they have done.

[Shade]

2 points per million quid doesn't seem like a lot. Make it 10

[RegencyCheltenhamSpa]

Calladine on Reading yesterday:

https://twitter.com/uglygame/status/1767200786675548227

[Jerry St Clair]

Torquay United deducted 10 points for entering Administration.

Takes them from comfortable mid-table to 3 points above the relegation places. Who’d want to be Aaron Downes at the moment? Horrible situation.

[paperboy]

Torquay United deducted 10 points for entering Administration.

Takes them from comfortable mid-table to 3 points above the relegation places. Who’d want to be Aaron Downes at the moment? Horrible situation.

The fans had been calling for the owner and Gary to go and they certainly got their wish.
Odd that Clarke Osborn just pulled the plug rather than put the club up for sale.
He'd have had to keep bankrolling the club, but he might have got some of his 5 million quid back.
Like us, the local council hold the lease on Plainmoor and coincidentally he'd had a meeting with them a few weeks previously regarding his big plans for a new stadium.
Worryingly one of the clubs potential suitors is controversial ex Port Vale owner Norman Smurthwaite.

[Malabus]

I am starting to think that another Reading points deduction is the only way we are going to stay in League One..

Which means if we are in the drop zone then stay in 21st place.
Someone mentioned that anymore points deductions will be implicated at the start of next season.

[RobinHood]

Wycombe are the football vultures circling above Reading at the moment, they appear to have purchased their training ground for what is likely very much below market value.

Reading fans, unsurprisingly, are a little bit bent out of shape about this news.

[Jerry St Clair]

Wycombe are the football vultures circling above Reading at the moment, they appear to have purchased their training ground for what is likely very much below market value.

Reading fans, unsurprisingly, are a little bit bent out of shape about this news.

It's £50m worth of training ground. One of the best outside the Prem. It has a main pitch which is an exact replica of the one at the Madejski. Plus multiple training pitches and all weather surfaces and the usual gyms, rehab facilities etc. And a Cat 1 academy.

No idea how Wycombe can afford to a) buy it and b) run it.

If true, it means that Reading have no tangible assets, therefore no likely buyer and liquidation, if not inevitable, a very real possibility.

[longmover]

Wycombe are the football vultures circling above Reading at the moment, they appear to have purchased their training ground for what is likely very much below market value.

Reading fans, unsurprisingly, are a little bit bent out of shape about this news.

It's £50m worth of training ground. One of the best outside the Prem. It has a main pitch which is an exact replica of the one at the Madejski. Plus multiple training pitches and all weather surfaces and the usual gyms, rehab facilities etc. And a Cat 1 academy.

No idea how Wycombe can afford to a) buy it and b) run it.

If true, it means that Reading have no tangible assets, therefore no likely buyer and liquidation, if not inevitable, a very real possibility.

Wycombe have American owners with deep pockets

[1985CTFC]

Wycombe are the football vultures circling above Reading at the moment, they appear to have purchased their training ground for what is likely very much below market value.

Reading fans, unsurprisingly, are a little bit bent out of shape about this news.

It's £50m worth of training ground. One of the best outside the Prem. It has a main pitch which is an exact replica of the one at the Madejski. Plus multiple training pitches and all weather surfaces and the usual gyms, rehab facilities etc. And a Cat 1 academy.

No idea how Wycombe can afford to a) buy it and b) run it.

If true, it means that Reading have no tangible assets, therefore no likely buyer and liquidation, if not inevitable, a very real possibility.

Wycombe can rent it out to Reading. Wycombe use it in the morning, Reading in the late afternoon

[PCrobin]

they could share it, just play each other all day in practice games

[asl]

Will that £25m be used to pay the projected £1m shortfall for this month...? Or has Dai just bought himself a yacht...?

[1985CTFC]

Wycombe are the football vultures circling above Reading at the moment, they appear to have purchased their training ground for what is likely very much below market value.

Reading fans, unsurprisingly, are a little bit bent out of shape about this news.

It's £50m worth of training ground. One of the best outside the Prem. It has a main pitch which is an exact replica of the one at the Madejski. Plus multiple training pitches and all weather surfaces and the usual gyms, rehab facilities etc. And a Cat 1 academy.

No idea how Wycombe can afford to a) buy it and b) run it.

If true, it means that Reading have no tangible assets, therefore no likely buyer and liquidation, if not inevitable, a very real possibility.

Wycombe have American owners with deep pockets

Apparently the 'real' owner who puts in the money is a Georgian Business man. The American has stated he is only there for a few years. Seems to be more to this 25million pound purchase, as Wycombe fans seem to think the American doesn't have that amount to throw at a club he is thinking of 'selling' in a year or 2. Both teams should be worried at this development. If as stated Wycombe are going to rent it to Reading, it just seems a little odd to splash out 25million to 'help' Reading . Business men in this game usually do things to make money.
Watch this space as they say. Probably save them having more points deducted.

[RegencyCheltenhamSpa]

Will that £25m be used to pay the projected £1m shortfall for this month...? Or has Dai just bought himself a yacht...?

Sky Sports News reported that the training ground was owned by a different company to the football club (both owned by Dai Yonge) so I guess he could just by a yacht.

[ctfc-fan]

It’s in these situations that the FA should be asking for details of the deal.

[bigdavejambo]

I am starting to think that another Reading points deduction is the only way we are going to stay in League One..

Which means if we are in the drop zone then stay in 21st place.
Someone mentioned that anymore points deductions will be implicated at the start of next season.

i think 31st March is the cut-off for any points deductions to be applied for this season

[Jerry St Clair]

Will that £25m be used to pay the projected £1m shortfall for this month...? Or has Dai just bought himself a yacht...?

Sky Sports News reported that the training ground was owned by a different company to the football club (both owned by Dai Yonge) so I guess he could just by a yacht.

Bearwood Park near Reading is owned by Prestige Fortune Asia Ltd in Wanchai, Hong Kong

Of course it is. Welcome to modern football.

[longmover]

Will that £25m be used to pay the projected £1m shortfall for this month...? Or has Dai just bought himself a yacht...?

Sky Sports News reported that the training ground was owned by a different company to the football club (both owned by Dai Yonge) so I guess he could just by a yacht.

Bearwood Park near Reading is owned by Prestige Fortune Asia Ltd in Wanchai, Hong Kong

Of course it is. Welcome to modern football.

[longmover]

Seems as though reading fans aren't too please with the purchase and some quite awful things being directed to the Wycombe hierarchy (on the socials)

with all due respect to Reading its hardly a football dynasty is it

[Si Robin]

There does seem to be an aloofness from Reading fans about the mess they're in.

They seem to want to blame everyone and everything and unless it's helpful to them then you're the enemy. One guy on another forum has basically spent the last 24 hours completely slating Wycombe as if they've done it deliberately to kill Reading off.

I empathise with their fanbase, but they didn't seem overly concerned when blowing Cambridge out of the water to sign Knibbs and Smith in the summer.