CONFIMRED - The final countdown

[blythspartan]

When was the last time an English club bigger than Reading folded?

Bury.

Bury spent more years in the top diviosion, Bury soent more season in the second division. Bury won the FA Cup.

Is this a joke? 12k ground normally half full, not in the top flight since before the 2nd World War. Like those people who claim Preston are a massive club because of those 1800s titles.

Tbf, their record attendance of 34,386 is higher than ours, Lol.

[Snowflake Royal]

Was talking about this in the pub with friends. They were all 100% Reading are bigger than Bury. None are Reading fans.

You'd have to be a loon to think they were bigger than we are.

[Forbury Lion]

Pretty contradictory with other reports. First, we know he paid HMRC last month. Why do that if you don't care? And now the rumour is he has moved the goalposts on the sale. That's not the actions of someone disinterested. If someone offers you £30m for something you don't care about, you just accept and get out.

We're all speculating, but my guess he increased the price because of a couple of good results but also he's a compulsive gambler who enjoys the games. That doesn't mean he's lost interest in selling.

Imagine someone who bought a holiday home and made a big fuss about it to their mates. But the house turns out to be a money pit and the area becomes unpopular. They have no interest in going anymore, but also loathed to sell for an 'embarrassing' amount. So, they put it on the market, but rebuff every 'sensible' offer, sending over the absolute minimum amount of money to keep it going each month. They don't give a shit about the house, but don't want to have to publicly admit the amount of money they lost.

Doesn't really fit. And we're not talking just the odd quid for standing charges for gas, electricty and water. We're talking about salaries and tax for upwards of a couple hundred people.

Dai's net worth is supposedly £7bn, the running costs of Reading FC are insignificant to him as is, to an extent the sale proceeds, I suspect there is a middleman/agent in all this who gets commission based on the sale price and maybe that's what's going on same as all the crap players we signed.

[Forbury Lion]

Was talking about this in the pub with friends. They were all 100% Reading are bigger than Bury. None are Reading fans.

You'd have to be a loon to think they were bigger than we are.

I assume this was a pub in Reading and not a pub in Bury?

[WestYorksRoyal]

Imagine someone who bought a holiday home and made a big fuss about it to their mates. But the house turns out to be a money pit and the area becomes unpopular. They have no interest in going anymore, but also loathed to sell for an 'embarrassing' amount. So, they put it on the market, but rebuff every 'sensible' offer, sending over the absolute minimum amount of money to keep it going each month. They don't give a shit about the house, but don't want to have to publicly admit the amount of money they lost.

Doesn't really fit. And we're not talking just the odd quid for standing charges for gas, electricty and water. We're talking about salaries and tax for upwards of a couple hundred people.

Dai's net worth is supposedly £7bn, the running costs of Reading FC are insignificant to him as is, to an extent the sale proceeds, I suspect there is a middleman/agent in all this who gets commission based on the sale price and maybe that's what's going on same as all the crap players we signed.

According to this, no longer a billionaire, though hardly a pauper with £656m.

https://www.bbc.co.uk/sport/football/66053700

Then you have to question how liquid his remaining assets are. £30m cash would no doubt come in handy. We've seen him selling assets elsewhere too - his mansion in Sydney.

[tmesis]

When was the last time an English club bigger than Reading folded?

Bury.

Bury spent more years in the top diviosion, Bury soent more season in the second division. Bury won the FA Cup.

Is this a joke? 12k ground normally half full, not in the top flight since before the 2nd World War. Like those people who claim Preston are a massive club because of those 1800s titles.

Exactly. They've only averaged over 6000 once since the 1960s. Bury are not bigger than Reading. Even in the pre-Madejski days, few would have thought them bigger, not that either was exactly massive.

Go back to when they were decent, in the first half of the century or so, and our crowds matched theirs, despite being a division or two lower, usually.

Of course, if we do go bust, we are still a fair way from big enough to send any ripples through the game. It'll just be put down to being a club 'who only got to the top because of overspending'.

[Snowflake Royal]

Imagine someone who bought a holiday home and made a big fuss about it to their mates. But the house turns out to be a money pit and the area becomes unpopular. They have no interest in going anymore, but also loathed to sell for an 'embarrassing' amount. So, they put it on the market, but rebuff every 'sensible' offer, sending over the absolute minimum amount of money to keep it going each month. They don't give a shit about the house, but don't want to have to publicly admit the amount of money they lost.

Doesn't really fit. And we're not talking just the odd quid for standing charges for gas, electricty and water. We're talking about salaries and tax for upwards of a couple hundred people.

Dai's net worth is supposedly £7bn, the running costs of Reading FC are insignificant to him as is, to an extent the sale proceeds, I suspect there is a middleman/agent in all this who gets commission based on the sale price and maybe that's what's going on same as all the crap players we signed.

£7bn?! where you getting that from? He was supposed to be worth less than £1bn when he bought us and he's been through two years of economic difficulties from China's pandemic lockdown and had assets frozen from a corruption investigation.

11 July this year the BBC has his net worth under £700m.

[Snowflake Royal]

Was talking about this in the pub with friends. They were all 100% Reading are bigger than Bury. None are Reading fans.

You'd have to be a loon to think they were bigger than we are.

I assume this was a pub in Reading and not a pub in Bury?

Cambridge.

[Clyde1998]

Doesn't really fit. And we're not talking just the odd quid for standing charges for gas, electricty and water. We're talking about salaries and tax for upwards of a couple hundred people.

Dai's net worth is supposedly £7bn, the running costs of Reading FC are insignificant to him as is, to an extent the sale proceeds, I suspect there is a middleman/agent in all this who gets commission based on the sale price and maybe that's what's going on same as all the crap players we signed.

According to this, no longer a billionaire, though hardly a pauper with £656m.

https://www.bbc.co.uk/sport/football/66053700

Then you have to question how liquid his remaining assets are. £30m cash would no doubt come in handy. We've seen him selling assets elsewhere too - his mansion in Sydney.

Wealth can change rapidly due to the value of corporate shares being included in the figure. With the state of the Chinese asset market at the moment, it's not much of a surprise his wealth would've dropped a huge amount in recent years.

A lot of these 'wealthy' people don't have a large amount of liquid assets - in 2022, Elon Musk had an estimated wealth of $293bn, with 64% being the value of his Tesla shares, 20.5% being Tesla stock options, 13.6% being SpaceX shares, 1% being Twitter shares, 1% being cash or other assets and 0.03% being Boring Company shares. His cash assets are basically nothing when compared to the value of his semi-liquid assets.

I don't know if that's typical of the average billionaire, but if Dai Yongge had 1% of his assets in cash, he would have £6.56m in cash. If he needs cash, it would explain why he's selling assets.

[Sutekh]

Unfortunate to have lost 1 club in Reading (Reading Town in early 2016). Losing another could be considered careless.

[Stranded]

Unfortunate to have lost 1 club in Reading (Reading Town in early 2016). Losing another could be considered careless.

A Handbag!!

[Sutekh]

Former FL clubs no longer with us...

1. Accrington - dissolved 1896
2. Accrington Stanley - folded 1967
3. Aldershot - liquidated 1992
4. Bootle - liquidated 1893
5. Bradford Park Avenue - disbanded 1974
6. Bury - expelled 2019
7. Chesterfield - liquidated 1915 (the current incarnation was actually founded as Chesterfield Municipal in 1919)
8. Darwen - liquidated 2009
9. Durham City - folded 1938 (as City of Durham)
10. Gateshead - folded 1973
11. Halifax Town - dissolved 2008
12. Hereford United - dissolved 2014
13. Leeds City - dissolved 1919
14. Loughborough - dissolved 1900
15. Macclesfield Town - dissolved 2020
16. Maidstone United - expelled 1992
17. Merthyr Tydfil - dissolved 2010
18. Middlesbrough Ironopolis - dissolved 1894
19. New Brighton - dissolved 1983
20. New Brighton Tower - dissolved 1901
21. Newport County - liquidated 1989
22. Rushden & Diamonds - dissolved 2011
23. Scarborough - dissolved 2007
24. Stoke City - bankrupted and liquidated 1907 (current incarnation founded in 1907 and rejoined league in 1919)
25. Thames - dissolved 1932
26. Wigan Borough - dissolved 1931
27. Wimbledon - relocated and eventually dissolved with the club history transferred to AFC Wimbledon

[Ten Bobsworth]

The main straw clutching is that we're still going off rumours; no concrete evidence that it's off. When Genevra had a bid rejected previously, they told SSN. Who knows how other parties may react to the latest news. And tbh, maybe Dai has a point. In the past month we've gone from looking L2 guaranteed to a team who can stay up but also develop into a good side over 2 - 3 years. Green shoots of recovery for the new owner, but the risk is Dai tramples all over them again.

If I was advising on this deal, I'd be recommending contingent consideration terms. Say £20m up front, a further £5m if we stay up this season and a further £10m if we're back in the Championship within 3 years.

£20m plus contingent add-ons ? For what?

[Mr Angry]

Former FL clubs no longer with us...

1. Accrington - dissolved 1896
2. Accrington Stanley - folded 1967
3. Aldershot - liquidated 1992
4. Bootle - liquidated 1893
5. Bradford Park Avenue - disbanded 1974
6. Bury - expelled 2019
7. Chesterfield - liquidated 1915 (the current incarnation was actually founded as Chesterfield Municipal in 1919)
8. Darwen - liquidated 2009
9. Durham City - folded 1938 (as City of Durham)
10. Gateshead - folded 1973
11. Halifax Town - dissolved 2008
12. Hereford United - dissolved 2014
13. Leeds City - dissolved 1919
14. Loughborough - dissolved 1900
15. Macclesfield Town - dissolved 2020
16. Maidstone United - expelled 1992
17. Merthyr Tydfil - dissolved 2010
18. Middlesbrough Ironopolis - dissolved 1894
19. New Brighton - dissolved 1983
20. New Brighton Tower - dissolved 1901
21. Newport County - liquidated 1989
22. Rushden & Diamonds - dissolved 2011
23. Scarborough - dissolved 2007
24. Stoke City - bankrupted and liquidated 1907 (current incarnation founded in 1907 and rejoined league in 1919)
25. Thames - dissolved 1932
26. Wigan Borough - dissolved 1931
27. Wimbledon - relocated and eventually dissolved with the club history transferred to AFC Wimbledon

Stoke fans will be after you with pitch forks and burning torches for daring to suggest that their club wasn't formed in 1863!!

(Founded as Stoke Ramblers in 1863, the club changed its name to Stoke in 1878 and then to Stoke City in 1925 after Stoke-on-Trent was granted city status)

[From Despair To Where?]

Former FL clubs no longer with us...

1. Accrington - dissolved 1896
2. Accrington Stanley - folded 1967
3. Aldershot - liquidated 1992
4. Bootle - liquidated 1893
5. Bradford Park Avenue - disbanded 1974
6. Bury - expelled 2019
7. Chesterfield - liquidated 1915 (the current incarnation was actually founded as Chesterfield Municipal in 1919)
8. Darwen - liquidated 2009
9. Durham City - folded 1938 (as City of Durham)
10. Gateshead - folded 1973
11. Halifax Town - dissolved 2008
12. Hereford United - dissolved 2014
13. Leeds City - dissolved 1919
14. Loughborough - dissolved 1900
15. Macclesfield Town - dissolved 2020
16. Maidstone United - expelled 1992
17. Merthyr Tydfil - dissolved 2010
18. Middlesbrough Ironopolis - dissolved 1894
19. New Brighton - dissolved 1983
20. New Brighton Tower - dissolved 1901
21. Newport County - liquidated 1989
22. Rushden & Diamonds - dissolved 2011
23. Scarborough - dissolved 2007
24. Stoke City - bankrupted and liquidated 1907 (current incarnation founded in 1907 and rejoined league in 1919)
25. Thames - dissolved 1932
26. Wigan Borough - dissolved 1931
27. Wimbledon - relocated and eventually dissolved with the club history transferred to AFC Wimbledon

Leeds City were banned in 1919 because of rampant cheating (Illegal under the counter payments to players in the age of the maximum wage etc) so they dissolved the club and immediately reformed as Leeds United.

[royalstevep68]

Doesn't really fit. And we're not talking just the odd quid for standing charges for gas, electricty and water. We're talking about salaries and tax for upwards of a couple hundred people.

Dai's net worth is supposedly £7bn, the running costs of Reading FC are insignificant to him as is, to an extent the sale proceeds, I suspect there is a middleman/agent in all this who gets commission based on the sale price and maybe that's what's going on same as all the crap players we signed.

£7bn?! where you getting that from? He was supposed to be worth less than £1bn when he bought us and he's been through two years of economic difficulties from China's pandemic lockdown and had assets frozen from a corruption investigation.

11 July this year the BBC has his net worth under £700m.

Dai net worth was reported as $2.6 billion. His sister is also equally as richest, she is supposedly one of the wealthiest women in the world. Also, dai owns alot of property, sold his Sydney house for 26 million dollars and owns a mansion opposite Buckingham palace worth approx £70 million. Supposedly

[From Despair To Where?]

I thought the place opposite Buck House was rented and it's not worth £70m, it's for sale on Zoopla for £25m

[WestYorksRoyal]

The main straw clutching is that we're still going off rumours; no concrete evidence that it's off. When Genevra had a bid rejected previously, they told SSN. Who knows how other parties may react to the latest news. And tbh, maybe Dai has a point. In the past month we've gone from looking L2 guaranteed to a team who can stay up but also develop into a good side over 2 - 3 years. Green shoots of recovery for the new owner, but the risk is Dai tramples all over them again.

If I was advising on this deal, I'd be recommending contingent consideration terms. Say £20m up front, a further £5m if we stay up this season and a further £10m if we're back in the Championship within 3 years.

£20m plus contingent add-ons ? For what?

I'm not getting into arguments on what the club is worth. The Genevra bid is rumoured to be in the £25m - £30m ball park, so clearly they think it's worth that and their opinion is what matters most alongside that of Dai’s.

[Sutekh]

Former FL clubs no longer with us...

1. Accrington - dissolved 1896
2. Accrington Stanley - folded 1967
3. Aldershot - liquidated 1992
4. Bootle - liquidated 1893
5. Bradford Park Avenue - disbanded 1974
6. Bury - expelled 2019
7. Chesterfield - liquidated 1915 (the current incarnation was actually founded as Chesterfield Municipal in 1919)
8. Darwen - liquidated 2009
9. Durham City - folded 1938 (as City of Durham)
10. Gateshead - folded 1973
11. Halifax Town - dissolved 2008
12. Hereford United - dissolved 2014
13. Leeds City - dissolved 1919
14. Loughborough - dissolved 1900
15. Macclesfield Town - dissolved 2020
16. Maidstone United - expelled 1992
17. Merthyr Tydfil - dissolved 2010
18. Middlesbrough Ironopolis - dissolved 1894
19. New Brighton - dissolved 1983
20. New Brighton Tower - dissolved 1901
21. Newport County - liquidated 1989
22. Rushden & Diamonds - dissolved 2011
23. Scarborough - dissolved 2007
24. Stoke - bankrupted and liquidated 1907 (current incarnation founded in 1907 and rejoined league in 1919)
25. Thames - dissolved 1932
26. Wigan Borough - dissolved 1931
27. Wimbledon - relocated and eventually dissolved with the club history transferred to AFC Wimbledon

Stoke fans will be after you with pitch forks and burning torches for daring to suggest that their club wasn't formed in 1863!!

(Founded as Stoke Ramblers in 1863, the club changed its name to Stoke in 1878 and then to Stoke City in 1925 after Stoke-on-Trent was granted city status)

Bit of a grey area. Stoke were bankrupted in 1907 and were liquidated but were then somehow "saved" and reformed under the same name and joined what is now the West Midlands (Regional) League before being re-elected to the FL in 1915 (though not actually able to re-join until 1919 due the WW1)

[Snowflake Royal]

Dai's net worth is supposedly £7bn, the running costs of Reading FC are insignificant to him as is, to an extent the sale proceeds, I suspect there is a middleman/agent in all this who gets commission based on the sale price and maybe that's what's going on same as all the crap players we signed.

£7bn?! where you getting that from? He was supposed to be worth less than £1bn when he bought us and he's been through two years of economic difficulties from China's pandemic lockdown and had assets frozen from a corruption investigation.

11 July this year the BBC has his net worth under £700m.

Dai net worth was reported as $2.6 billion. His sister is also equally as richest, she is supposedly one of the wealthiest women in the world. Also, dai owns alot of property, sold his Sydney house for 26 million dollars and owns a mansion opposite Buckingham palace worth approx £70 million. Supposedly

Given I referred to an article from less than 6 months on a reputable site giving his value at less than £700m, not buying that random undated, unsourced valuation.

BBC also historicallu reported that his sister signed over much of her wealth to him, and she sewms barely involved, so also not giving much credance or relevance to how much she's worth.

So far we've had people claiming our billionairw owner is worth amounts ranging from £650m rhrough $2.6bn to $7bn

Just sounds like a Trumpesque crock of shit.