Embargos, HMRC Payment defaults, non payment of wages, the usual under Dai Wrongge

[El Diablo]

Document issued by companies in the UK today on Reading FC- satisfaction of charge - whatever that means !

Another notification today- could be a different one ?

Yes, a different one

https://find-and-update.company-informa ... QgfPhol6CM

Legal Charge held by the Secretary of Defence - loan/mortgage on Bearwood perhaps?

Something is definitely happening - seems that outstanding charges are being cleared which could suggest things are being sorted for a clean slate takeover. Still no idea though if this is a good sign.

Arborfield Sports field , apparently..

(https://search-property-information.ser ... LfDLpalA==)

[Forbury Lion]

Another notification today- could be a different one ?

Yes, a different one

https://find-and-update.company-informa ... QgfPhol6CM

Legal Charge held by the Secretary of Defence - loan/mortgage on Bearwood perhaps?

Something is definitely happening - seems that outstanding charges are being cleared which could suggest things are being sorted for a clean slate takeover. Still no idea though if this is a good sign.

Arborfield Sports field , apparently..

(https://search-property-information.ser ... LfDLpalA==)

Before Bearwood our training ground was the old Army Garrison at Arborfield.

[Crusader Royal]

Yes, a different one

https://find-and-update.company-informa ... QgfPhol6CM

Legal Charge held by the Secretary of Defence - loan/mortgage on Bearwood perhaps?

Something is definitely happening - seems that outstanding charges are being cleared which could suggest things are being sorted for a clean slate takeover. Still no idea though if this is a good sign.

Arborfield Sports field , apparently..

(https://search-property-information.ser ... LfDLpalA==)

Before Bearwood our training ground was the old Army Garrison at Arborfield.

Why would there be a charge on Bearwood relating to Hogwood ? I have vague recollections that Hogwood was owned by SJM and rented to RFC. Additionally it was sold for housing so surely if there were any debts associated with they would have been cleared as part of the sale. I can’t imagine a government department allowing a private company to effectively have a government funded mortgage…

Having said that the link does seem the logical one !

[Stranded]

Arborfield Sports field , apparently..

(https://search-property-information.ser ... LfDLpalA==)

Before Bearwood our training ground was the old Army Garrison at Arborfield.

Why would there be a charge on Bearwood relating to Hogwood ? I have vague recollections that Hogwood was owned by SJM and rented to RFC. Additionally it was sold for housing so surely if there were any debts associated with they would have been cleared as part of the sale. I can’t imagine a government department allowing a private company to effectively have a government funded mortgage…

Having said that the link does seem the logical one !

All the details are on the document linked - it is a charge over the old training ground, so just feels like someone is tidying up old external debts.

[The Cube]

I reckon that these two recent charge clearances may relate to actions taken a long time ago. In other words, this is just administrative clearing up.

If so, then it's more to add to the long list of admin failures by RFC staff in recent years. But it might also be possibly good news in terms of sale progress.

[Forbury Lion]

Before Bearwood our training ground was the old Army Garrison at Arborfield.

Why would there be a charge on Bearwood relating to Hogwood ? I have vague recollections that Hogwood was owned by SJM and rented to RFC. Additionally it was sold for housing so surely if there were any debts associated with they would have been cleared as part of the sale. I can’t imagine a government department allowing a private company to effectively have a government funded mortgage…

Having said that the link does seem the logical one !

All the details are on the document linked - it is a charge over the old training ground, so just feels like someone is tidying up old external debts.

or it's just the result of the final monthly direct debut payment being taken to pay off the final monthly installment of a 10 year mortgage which then automatically leads to the charge being lifted, nothing special the club has one, just something happening which was always going to happen.
The positive is that there was cash in the account to be taken.

[Snowflake Royal]

Arborfield Sports field , apparently..

(https://search-property-information.ser ... LfDLpalA==)

Before Bearwood our training ground was the old Army Garrison at Arborfield.

Why would there be a charge on Bearwood relating to Hogwood ? I have vague recollections that Hogwood was owned by SJM and rented to RFC. Additionally it was sold for housing so surely if there were any debts associated with they would have been cleared as part of the sale. I can’t imagine a government department allowing a private company to effectively have a government funded mortgage…

Having said that the link does seem the logical one !

Well Madejski was a Tory donor, so anything is possible with the Gov of the last 14 years.

[El Diablo]

Doing some sleuthing - the land that relates to the above released charge (Arborfield) was sold, in 2022 . for £22m (gross)

Now, the company that sold the land was SUN ELEGANT GROUP LIMITED - who, the beneficial owner being surprise surprise , one Dai Yongge.

What I don't fully understand why RFC had a charge registered against it - I can only assume that the loan against the land was originally secured against the club, potentially the club originally owned the land , then (RFC Dai) sold it to (Dai) - and the club benefitted to support its financial position?

Certainly seems like there's some house keeping going on atm , but second guessing the above is probs beyond available public record

[From Despair To Where?]

That's the key at the end of the day, there's no grounds for the government to intervene in the running or a private business.

[Forbury Lion]

That's the key at the end of the day, there's no grounds for the government to intervene in the running or a private business.

Although, they can privatize public services... imagine how popular that might be if they seized the club and assets associated with it (even those in different companies) and then appointed someone to run it and sell it to a new group. The owner then gets whatever's left from the sale proceeds after all other expenses including running costs, which may be nothing or could even be a bill which if they don't pay they can seize further assets.

[WestYorksRoyal]

That's the key at the end of the day, there's no grounds for the government to intervene in the running or a private business.

Eh? Try laundering money in your business and see whether the government intervenes.

The debate is when the government has grounds to intervene, and should football clubs as community assets have a different threshold for government intervention. Admittedly, there is nothing the government can currently do for an owner like Dai under existing legislation, but it doesn't mean it should always be that way.

[Snowflake Royal]

That's the key at the end of the day, there's no grounds for the government to intervene in the running or a private business.

Although, they can privatize public services... imagine how popular that might be if they seized the club and assets associated with it (even those in different companies) and then appointed someone to run it and sell it to a new group. The owner then gets whatever's left from the sale proceeds after all other expenses including running costs, which may be nothing or could even be a bill which if they don't pay they can seize further assets.

Very unpopular for wasting millions of tax payers money on a club 99.9% of country couldn't give a flying oxf*rd about

[Sutekh]

That's the key at the end of the day, there's no grounds for the government to intervene in the running or a private business.

Although, they can privatize public services... imagine how popular that might be if they seized the club and assets associated with it (even those in different companies) and then appointed someone to run it and sell it to a new group. The owner then gets whatever's left from the sale proceeds after all other expenses including running costs, which may be nothing or could even be a bill which if they don't pay they can seize further assets.

Very unpopular for wasting millions of tax payers money on a club 99.9% of country couldn't give a flying oxf*rd about

But then all governments are excellent at wasting money on things nobody wants or those nobody care cares about.

[Mid Sussex Royal]

That's the key at the end of the day, there's no grounds for the government to intervene in the running or a private business.

Although, they can privatize public services... imagine how popular that might be if they seized the club and assets associated with it (even those in different companies) and then appointed someone to run it and sell it to a new group. The owner then gets whatever's left from the sale proceeds after all other expenses including running costs, which may be nothing or could even be a bill which if they don't pay they can seize further assets.

Very unpopular for wasting millions of tax payers money on a club 99.9% of country couldn't give a flying oxf*rd about

Agree - Gordon Brown was very unpopular for bailing out 2 major privately owned banks which was you could argue in the national interest.

[From Despair To Where?]

Although, they can privatize public services... imagine how popular that might be if they seized the club and assets associated with it (even those in different companies) and then appointed someone to run it and sell it to a new group. The owner then gets whatever's left from the sale proceeds after all other expenses including running costs, which may be nothing or could even be a bill which if they don't pay they can seize further assets.

Very unpopular for wasting millions of tax payers money on a club 99.9% of country couldn't give a flying oxf*rd about

Agree - Gordon Brown was very unpopular for bailing out 2 major privately owned banks which was you could argue in the national interest.

I wouldn't call Reading FC a key infrastructural institution.

[Forbury Lion]

That's the key at the end of the day, there's no grounds for the government to intervene in the running or a private business.

Although, they can privatize public services... imagine how popular that might be if they seized the club and assets associated with it (even those in different companies) and then appointed someone to run it and sell it to a new group. The owner then gets whatever's left from the sale proceeds after all other expenses including running costs, which may be nothing or could even be a bill which if they don't pay they can seize further assets.

Very unpopular for wasting millions of tax payers money on a club 99.9% of country couldn't give a flying oxf*rd about

I think they can make money out of this, even if they just change the rules so administrators take all the assets associated with the club owned by the current owners and the owner and creditors gets fcuk all, maybe even have the owner still liable for a penalty fee.... sell the stadium and ground to a pension fund with the club having a 100 year lease at a revenue linked affordable rate, get loads of cash in and then get the club running as a sustainable buisness before privatising it but with rules in place to stop the new owners overspending

[RG30]

Club fined £7.5k for the Port Vale abandonment, half of which is suspended until the end of this season. Written reasons can be viewed here https://www.thefa.com/news/2024/aug/27/reading-fc-sanctioned

[Armadillo Roadkill]

Club fined £7.5k for the Port Vale abandonment, half of which is suspended until the end of this season. Written reasons can be viewed here https://www.thefa.com/news/2024/aug/27/reading-fc-sanctioned

I'm surprised both that it took so long, and that the fine is so small. I don't think we can have any complaints.

[WestYorksRoyal]

Their written reasoning suggested a number of improvements the club could have considered, but missed the glaring omission of getting rid of the cnut of an owner we're all protesting against. That would substantially reduce the risk of further pitch invasions.

[Crusader Royal]

Interesting that they criticise the club for typos in some of their documentation and the ref then consistently misspells the name of our manager in his report !