CONFIMRED - This might be it!!

[Orion1871]

Donald Trump has put in a bid of £100m It's the only way he can make himself a life President

Frankly what is happening to our soccer club is terrible. Many people have come up to me, big guys wearing XL fleeces, tears in their eyes. They're saying thank you Mr Trump for saving us from the Jynese.

[Pepe the Horseman]

Donald Trump has put in a bid of £100m It's the only way he can make himself a life President

Frankly what is happening to our soccer club is terrible. Many people have come up to me, big guys wearing XL fleeces, tears in their eyes. They're saying thank you Mr Trump for saving us from the Jynese.

EFL: Do you have a business plan?
Big Don: I have concepts of a business plan.

[Biscuit goalie]

EFL: Do you have a business plan?
Big Don: I have concepts of a business plan.

[Uke]

Dellor reporting on radio that Dai is considering 4 bids in next 48 hours, 3 pre Couhig and one new.

The not so good news is that the money runs out mid November.

Very mixed news. Presumably he didn't have anything to comment on this Blue River company, so could be bollocks or they could be the 4th bidder.

The optimist in me sees no reason why it can't be done by mid November when the funding runs out, given all the due diligence is done. EFL checks will be the biggest hurdle.

So three bids already binned off plus his mate?

Still reckon we'll eventually be seeing the return of Couhig with the bid "miraculously" getting accepted after an additional full stop is added to the contract.

This is just posturing by Dai

[Rax]

Dellor reporting on radio that Dai is considering 4 bids in next 48 hours, 3 pre Couhig and one new.

The not so good news is that the money runs out mid November.

Very mixed news. Presumably he didn't have anything to comment on this Blue River company, so could be bollocks or they could be the 4th bidder.

The optimist in me sees no reason why it can't be done by mid November when the funding runs out, given all the due diligence is done. EFL checks will be the biggest hurdle.

So three bids already binned off plus his mate?

Still reckon we'll eventually be seeing the return of Couhig with the bid "miraculously" getting accepted after an additional full stop is added to the contract.

This is just posturing by Dai

To be fair, the Couhig bid being ressurected would be the best outcome, given it was green lighted by the EFL as well.

[leon]

Dellor reporting on radio that Dai is considering 4 bids in next 48 hours, 3 pre Couhig and one new.

The not so good news is that the money runs out mid November.

Very mixed news. Presumably he didn't have anything to comment on this Blue River company, so could be bollocks or they could be the 4th bidder.

The optimist in me sees no reason why it can't be done by mid November when the funding runs out, given all the due diligence is done. EFL checks will be the biggest hurdle.

So three bids already binned off plus his mate?

Still reckon we'll eventually be seeing the return of Couhig with the bid "miraculously" getting accepted after an additional full stop is added to the contract.

This is just posturing by Dai

I've had this feeling as well

[RG30]

Reading Football Club can provide an update to all stakeholders, especially its supporters, regarding the ongoing sales process and transfer embargo status.

The Club can confirm it has agreed to a period of exclusivity with a potential purchaser. Both parties are working hard to finalise terms with the intention to complete a sale at the earliest opportunity. This exclusivity period also includes further provision to fund the club until the transaction’s intended completion.

The proposed sale will include Mr Dai’s shareholding in The Reading Football Club Limited, as well as the Select Car Leasing Stadium and Bearwood Park Training Ground.

As of today, the Club can also confirm that - alongside the requirement to operate under the terms of its business plan - it has today been placed under a formal registration embargo by the EFL (English Football League).

This embargo has been implemented, as per EFL regulations, due to the late filing of financial accounts to Companies House, and relates to the 2022-23 accounting period. We are working closely with our auditing partner to finalise these accounts at the earliest opportunity – at which point the embargo will be lifted immediately.

Further developments for both the takeover and embargo status will be communicated at the earliest opportunity, and the Club and would like to thank all supporters and staff for their patience during this time.

[Sanguine]

Fcuk me. The 23-24 tax year finished six months ago. There is no reasonable excuse whatsoever for the 22-23 accounts to be late. None.

[Pepe the Horseman]

I'm old enough to remember when we used to get excited about exclusivity.

[Greatwesternline]

Fcuk me. The 23-24 tax year finished six months ago. There is no reasonable excuse whatsoever for the 22-23 accounts to be late. None.

There is if your auditor refuses to sign off your going concern basis and therefore insists you need to prepare the accounts on the break up basis.

[Pepe the Horseman]

Fcuk me. The 23-24 tax year finished six months ago. There is no reasonable excuse whatsoever for the 22-23 accounts to be late. None.

There is if your auditor refuses to sign off your going concern basis and therefore insists you need to prepare the accounts on the break up basis.

Can you explain this like you're talking to a 5 year-old?

[WestYorksRoyal]

Fcuk me. The 23-24 tax year finished six months ago. There is no reasonable excuse whatsoever for the 22-23 accounts to be late. None.

There is if your auditor refuses to sign off your going concern basis and therefore insists you need to prepare the accounts on the break up basis.

Can you explain this like you're talking to a 5 year-old?

Accounts are normally prepared on the assumption that the company will still be trading in 12 months, hence as a "going concern". If you do not expect the company to exist in 12 months, you prepare it on a "break-up basis" that treats all assets as current assets to be liquidated and sold for cash (including things like Bearwood).

If your auditor doesn't agree that you're a going concern, that is a massive disagreement which would materially impact how users interpret your accounts. Therefore, the auditor is within their rights to issue a report which basically says the accounts are nonsense.

In our situation, the logical thing to do would be to wait until a takeover is complete, funding is in place and then the auditor will agree that we're a going concern.

If we run out of road with that approach, the alternatives are to prepare accounts on a break up basis or file accounts with an adverse audit opinion.

[Hound]

Well it’s obviously positive news with the massive caveat of seeing it all before. Waiting now for the ITks to let us know who it is

[Who Moved The Goalposts?]

Well it’s obviously positive news with the massive caveat of seeing it all before. Waiting now for the ITks to let us know who it is

Well I bet it's got Blue somewhere in their name

If there's a River in there as well, we may as well just pack up now.

[Hendo]

[morganb]

[Snowflake Royal]

I like the intimation that the registration ban is anything new. Its been in place for almost 6 months and we got the FL to briefly lift it on the last day of the transfer window because Couhig was a 'done deal' and we'd sold Azeez to fund the club.

Once more Dai takes the FL for mugs.

[Brogue]

heard its Sandia Investment management LP

[Snowflake Royal]

heard its Sandia Investment management LP

Any indication who they are, what they do etc?

[Brogue]

heard its Sandia Investment management LP

Any indication who they are, what they do etc?

all i know is a guy called Jonathon wheaton is involved, and he invests in Venezia FC. who else invests Venezia FC? Chiron....