Was expecting 3, so that's some positive... Although not confident that we'll go a whole season without seeing the further 3 points. Read through some of the EFL report and gave some clarity on the decision based on three occasions; 1: Some players paid 1 day late 2: All players paid 2 days late 3: Some players paid 1 business day late (due to banking issue, payments had left club bank account but not reached players accounts) Seen some people already making comparisons to other clubs and the larger points deductions they received. But for example in Wigan's case their players were paid 2 weeks late on multiple occasions, not a day late, and not caused by banking issues. 'Achieved' a new record today though, first club to have points deductions in three consecutive seasons.
I don't think Reading will survive much longer. Our owner is effectively no longer funding the club and is valuing the club at around £70/80m which we believe excludes the stadium. That is a crazy vauation and proves he doesn't care for our clubs existence. Our CEO hasn't been seen for 4 months, club staff are banned from talking publicly (including our DoF Mark Bowen, and Dai himself doesn't respond to any form of contact.
I hope all gets sorted, these chairmen need to take responsibility, hope your club gets bought, but 70 million with no stadium, is day light robbery, should not be allowed to happen, football clubs belong to the community.
Reading set for a take over ? Reading set for takeover as ex-Formula 1 backer 'agrees' £50m deal for club Surely cannot be any worse than the current set up but don’t think this guy lasted long in F1. The bizarre Haas-Rich Energy saga explained
Storey himself has no momney and is not a trustworthy individual (those aren't my words but those of someone who had business dealings with him). He won't pass the fit a proper persons test, but the rumours behind this suggest that he is just one person involved in the deal and it is likely he would have less than 25% stake and therefore doesn't need to pass any tests. However, the parties are not allowed to divulge any details so until it eithers goes through or falls apart so it's all just rumours. Apparently due dillignece is completed it is now down to the EFL.
I currently cannot see any positive with this news You don’t need to look far on twitter to see the involvement he has has with businesses that failed to publish accounts, went into liquidation owing millions. Those who know more than me like Kieran Maguire cannot paint a good picture. Even if he is a minor shareholder as part of a larger consortium, I would have concerns of why they feel him as necessary. And if he is fronting the bid he should have a decent investment into it. I just see this as preoccupying the time of the club and EFL, blocking a better potential owner from proceeding.
It has been suggested that Nigel Howe is involved with this along with Red Bird (AC Milan and Toulouse owners). I would guess that if Storey is involved he is the front man for Red Bird who would hopefully not have much power. If Nigel Howe is involved then it gives me more confidence that would be a good deal.
William Storey is a fraud and a top tier tosser. The lengths he went to to try and convince our fan base he was the right person to take us forward was astonishing, even appearing on BBC Look North in a Sunderland top down the sea front He is an idiot with a chequered history in Formula One, can’t keep a company afloat for more than 5 minutes and has a ‘premium brand’ energy drink that I’ve never seen stocked anywhere in the UK. If he gets through and takes over the club, then I can only wish you all at Reading the best of luck. You’ve been through the mill recently and would hate to see it get any worse than it already is.
From what I have heard he won't be the owner as he doesn't have the money. He is just one part of the consortium......
Official CLub Statement: Reading Football Club would like to clarify that the process of the sale of the club is ongoing and, contrary to reports, there is currently no agreement in place with any party. Several parties have approached the club in recent weeks with declarations of interest in purchasing the club. All approaches are being assessed on their own merits to find the most suitable buyer to ensure a healthy future of the club and, at this stage, no single individual or entity has exclusivity in this process. We thank our supporters for their continued support, patience and understanding. As ever we will endeavour to keep our fans as informed as possible, and further updates will be provided as and when it is appropriate to do so.
Timely communication from the club, never thought i'd see the day. Although the statement itself does not outright deny the rumours today, the swift response to communicate might well have done. I guess if we can take one positive from the last 24 hours, it has helped to further publicise our perilous situation.
Another 2 point deduction incoming....still leaves us 3 above the drop zone, but all teams below us have games in hand.
Just because they can.... But seriously, I think it is HMRC related. Waiting for official confirmation.
Official now, with another 2 points suspended. They will almost certainly be invoked as there is no way on earth we will be paying all our football creditors on time before the end of the season. I'm not sure how a company owner can be allowed to run a business like this without being disqualified as a director. He is not performing his statutory duties. If he can't pay, then he should put the business in administration, even though that would relegate us.
One day I’ll be able to enjoy football again… 18 points deducted and counting. EFL said last time that points deductions and fines do not work as they only punish the fans, players and staff, but not the decisions makers. So their decision is to do more of the same - the points deduction was supposed to be double the size but was reduced on external review.
What would be your preference as a punishment for consistent breaching of the rules then, when obviously it cannot be financial?
You cannot legally disqualify a director without imposing a winding up order and I am sure you would not want that...what is more pertinent is how a fella who had already asset stripped two clubs in the same manner was able to pass the EFL fit and proper tests and just as importantly why no one at Reading did their due diligence either?
Every week, just further bad news Rumoured at the start of the week that we have almost ran out of money. The funds generated from January's player sales are almost used and no investment appears forthcoming. No takeover is remotely close. Now statement today from the owner saying that to cover the short-term funding gap that our training ground is for sale, confirming what was already rumoured. Selling a category 1 training ground is not a sensible option just for short-term funding, and just seems like further asset stripping. We could very soon be a football club without a stadium or a training ground, with nothing left of value. I really need to get my head around that there is now a decent chance that Reading FC will not be around in a few months time.. Need some kind of good news in the next couple of weeks!
