CONFRIMED: Latest rumours Confrimed as Unconfrimed

[Sutekh]

Haitong will seek the best pricing they can for the stadium, the best price they can realise for the ground is through the sale of the club as a whole. If they have ideas of trying to sale the club assets piecemeal, they won't get more than the total value of selling the club as a going concern.

Given they are an investment bank and do not have a property management presence in the UK they're not really going to be interested in having to look after club assets in this country so, equally, will want this sale concluded asap. Therefore can only presume they were not happy with the agreed sale price which is why the stopped it.

Therefore it seems likely to be Haitong that have the final say on what the club is sold for as the monies Dai receives will actually all go to them to offset the debt that he owes and then Dai will have to seek to sell his other properties (ie that luxury flat thing in London) to try and find the balance.

[Elm Park Kid]

I guess my question, given that the football club aspect appears to be a pawn in a larger game, is:

- Who is now leaking this information?

(given the loan seems to date from 2017/18 when the stadium was sold to fudge the accounts)

- Who gains anything from this information being passed onto English Journalists...

- What is their agenda?

Could I suggest maybe a former potential buyer who is hoping to scupper the current sale process so that they can swoop back in at some point . . . .

[SCIAG]

Issue with town centre is it is so heavy penned in. If you look at the IDR, it basically creates a wall/border around a densely populated area. Even just outside this and you are met with residential/office areas or road networks which can't be moved.

On top of the Broad Street Mall car park would be cool.
Two years of construction chaos might be an issue.
You’ve already got Blue Collar set up close by for food.

Could do it on top of the train station. Fans could buy their food from WHSmiths and commuters would be protected from the rain all year round. The only downsides would be huge expense, safety risks, massive inconvenience, and years of disruption on the GWR.

[Sutekh]

Prison's gone hasn't it? Knock that down and use that site, be right between Reading's most historic sites the Abbey and gardens and the biscuit factory. That'll really show up the idiots who decided to put the town's ring road in the centre of the town and call it an IDR.

[Crusader Royal]

Prison's gone hasn't it? Knock that down and use that site, be right between Reading's most historic sites the Abbey and gardens and the biscuit factory. That'll really show up the idiots who decided to put the town's ring road in the centre of the town and call it an IDR.

Aren’t most of the shops in Broad Street empty these days ? Any mileage in just clearing Broad Street and putting a new ground right in the epicentre of the town ? If they hadn’t done away with the little kiosk with the electronic ‘doughnuts’ voice it could do a roaring trade in fan food.
Only problem would be the number of beggars that would lose their pitches and the lack of decent pubs nearby.

[tmesis]

Haitong will seek the best pricing they can for the stadium, the best price they can realise for the ground is through the sale of the club as a whole. If they have ideas of trying to sale the club assets piecemeal, they won't get more than the total value of selling the club as a going concern.

Given they are an investment bank and do not have a property management presence in the UK they're not really going to be interested in having to look after club assets in this country so, equally, will want this sale concluded asap. Therefore can only presume they were not happy with the agreed sale price which is why the stopped it.

Therefore it seems likely to be Haitong that have the final say on what the club is sold for as the monies Dai receives will actually all go to them to offset the debt that he owes and then Dai will have to seek to sell his other properties (ie that luxury flat thing in London) to try and find the balance.

I would suspect all they can block is sale of the stadium, not the rest of the club. I believe you need to have permission to sell an asset a loan is secured against, as that's the lender's protection.

The bank would need some sort of guarantee that any money received would go to them. At this stage I doubt they'd take Dai's word for it. It's also possible that they'd block any sale that doesn't result in them getting paid in full, or they'd be turning a £55 million secured loan into a £25 million unsecured one (if getting £30 million for the stadium).

Obviously, I can't claim any expertise in the area, but I don't think I'm overreaching to say it's all something of a mess.

[Sutekh]

Haitong will seek the best pricing they can for the stadium, the best price they can realise for the ground is through the sale of the club as a whole. If they have ideas of trying to sale the club assets piecemeal, they won't get more than the total value of selling the club as a going concern.

Given they are an investment bank and do not have a property management presence in the UK they're not really going to be interested in having to look after club assets in this country so, equally, will want this sale concluded asap. Therefore can only presume they were not happy with the agreed sale price which is why the stopped it.

Therefore it seems likely to be Haitong that have the final say on what the club is sold for as the monies Dai receives will actually all go to them to offset the debt that he owes and then Dai will have to seek to sell his other properties (ie that luxury flat thing in London) to try and find the balance.

I would suspect all they can block is sale of the stadium, not the rest of the club. I believe you need to have permission to sell an asset a loan is secured against, as that's the lender's protection.

The bank would need some sort of guarantee that any money received would go to them. At this stage I doubt they'd take Dai's word for it. It's also possible that they'd block any sale that doesn't result in them getting paid in full, or they'd be turning a £55 million secured loan into a £25 million unsecured one (if getting £30 million for the stadium).

Obviously, I can't claim any expertise in the area, but I don't think I'm overreaching to say it's all something of a mess.

According to a chap on BBC Berks on Friday (Reading fan who is also a debt restructuring expert), Haitong may well also have a guarantee of payment from the Reading Football Club entity itself which means they would have recourse to all the other assets owned by the club. Therefore it would seem Dai has weaved a quite spectacular unattractive pile of **** for prospective buyers to pick through. If Haitong are flexible about things, realising that allowing the sale of the club is the only way to maximise return for the loan on the stadium, then hopefully things will progress. Problem will be if they refuse to allow the stadium sale (as that sale will turn any outstanding debt into an unsecured loan) therefore Dai may well be forced into selling other assets of "his", separate to Reading, so that the shortfall is made up at the same time as the stadium sale.

It's all very messy and the only good thing is that this is all now out there and known to prospective buyers so guess it's all down to how flexible Haitong are and how much the buyers want the club. One thing, any buyer who manages to negotiate the club out of this and put all the assets back together again really must want the club and then should be lauded for creating a Dunkirk style escape.

[tmesis]

Haitong will seek the best pricing they can for the stadium, the best price they can realise for the ground is through the sale of the club as a whole. If they have ideas of trying to sale the club assets piecemeal, they won't get more than the total value of selling the club as a going concern.

Given they are an investment bank and do not have a property management presence in the UK they're not really going to be interested in having to look after club assets in this country so, equally, will want this sale concluded asap. Therefore can only presume they were not happy with the agreed sale price which is why the stopped it.

Therefore it seems likely to be Haitong that have the final say on what the club is sold for as the monies Dai receives will actually all go to them to offset the debt that he owes and then Dai will have to seek to sell his other properties (ie that luxury flat thing in London) to try and find the balance.

I would suspect all they can block is sale of the stadium, not the rest of the club. I believe you need to have permission to sell an asset a loan is secured against, as that's the lender's protection.

The bank would need some sort of guarantee that any money received would go to them. At this stage I doubt they'd take Dai's word for it. It's also possible that they'd block any sale that doesn't result in them getting paid in full, or they'd be turning a £55 million secured loan into a £25 million unsecured one (if getting £30 million for the stadium).

Obviously, I can't claim any expertise in the area, but I don't think I'm overreaching to say it's all something of a mess.

According to a chap on BBC Berks on Friday (Reading fan who is also a debt restructuring expert), Haitong may well also have a guarantee of payment from the Reading Football Club entity itself which means they would have recourse to all the other assets owned by the club. Therefore it would seem Dai has weaved a quite spectacular unattractive pile of **** for prospective buyers to pick through. If Haitong are flexible about things, realising that allowing the sale of the club is the only way to maximise return for the loan on the stadium, then hopefully things will progress. Problem will be if they refuse to allow the stadium sale (as that sale will turn any outstanding debt into an unsecured loan) therefore Dai may well be forced into selling other assets of "his", separate to Reading, so that the shortfall is made up at the same time as the stadium sale.

It's all very messy and the only good thing is that this is all now out there and known to prospective buyers so guess it's all down to how flexible Haitong are and how much the buyers want the club. One thing, any buyer who manages to negotiate the club out of this and put all the assets back together again really must want the club and then should be lauded for creating a Dunkirk style escape.

Given that Dai seems to owe at least £500 million elsewhere, for those Evergrande shares he bought (now worth about £5) you would hope that they would see that getting the full amount back is unrealistic, but who knows?

[Sutekh]

Mike Gow on the X laying out what's going on the Dai's world

https://x.com/mikeygow/status/1846213677298360734

In summary Dai (and his co-defendents) have been placed on a "dishonest debtors" list in China for violation of asset reporting requirements (likely to be the failure to provide information or the inaccurate reporting of asset information - where have ween seen that before).

Assuming this guy actually still exists then the Chinese courts have numerous punishments they can throw at him including banning him from travel, hotels and leaving the country etc. on top of that failing to comply with these court orders is yet another offence to add to the list. He's thought to be in debt to the tune of around $1 billion (around £800 million) and is accruing interest on each debt the longer they go without payment.

Meanwhile Haitong is in the process of a merger with Guptai Junan to create a brokerage to rival Wall Street giants.

[WestYorksRoyal]

It would appear that, for once, the conspiracy theorists were on to something.

[katweslowski]

Mike Gow on the X laying out what's going on the Dai's world

https://x.com/mikeygow/status/1846213677298360734

In summary Dai (and his co-defendents) have been placed on a "dishonest debtors" list in China for violation of asset reporting requirements (likely to be the failure to provide information or the inaccurate reporting of asset information - where have ween seen that before).

Assuming this guy actually still exists then the Chinese courts have numerous punishments they can throw at him including banning him from travel, hotels and leaving the country etc. on top of that failing to comply with these court orders is yet another offence to add to the list. He's thought to be in debt to the tune of around $1 billion (around £800 million) and is accruing interest on each debt the longer they go without payment.

Meanwhile Haitong is in the process of a merger with Guptai Junan to create a brokerage to rival Wall Street giants.

This may be naive, but does anyone know what this means for ReadingFC?

Is it somehow a good thing as it may expedite certain processes, or is it bad because he's further restricted and it could hamper any deals?

[Linden Jones' Tash]

Mike Gow on the X laying out what's going on the Dai's world

https://x.com/mikeygow/status/1846213677298360734

In summary Dai (and his co-defendents) have been placed on a "dishonest debtors" list in China for violation of asset reporting requirements (likely to be the failure to provide information or the inaccurate reporting of asset information - where have ween seen that before).

Assuming this guy actually still exists then the Chinese courts have numerous punishments they can throw at him including banning him from travel, hotels and leaving the country etc. on top of that failing to comply with these court orders is yet another offence to add to the list. He's thought to be in debt to the tune of around $1 billion (around £800 million) and is accruing interest on each debt the longer they go without payment.

Meanwhile Haitong is in the process of a merger with Guptai Junan to create a brokerage to rival Wall Street giants.

This may be naive, but does anyone know what this means for ReadingFC?

Is it somehow a good thing as it may expedite certain processes, or is it bad because he's further restricted and it could hamper any deals?

Relaying what I read regarding that thread - both the academic guy & the debt restructuring guy seem to think that it may be a blessing in disguise having this Haitong institution now involved - given their interests and needs vs. DY

[traff]

Mike Gow on the X laying out what's going on the Dai's world

https://x.com/mikeygow/status/1846213677298360734

In summary Dai (and his co-defendents) have been placed on a "dishonest debtors" list in China for violation of asset reporting requirements (likely to be the failure to provide information or the inaccurate reporting of asset information - where have ween seen that before).

Assuming this guy actually still exists then the Chinese courts have numerous punishments they can throw at him including banning him from travel, hotels and leaving the country etc. on top of that failing to comply with these court orders is yet another offence to add to the list. He's thought to be in debt to the tune of around $1 billion (around £800 million) and is accruing interest on each debt the longer they go without payment.

Meanwhile Haitong is in the process of a merger with Guptai Junan to create a brokerage to rival Wall Street giants.

This may be naive, but does anyone know what this means for ReadingFC?

Is it somehow a good thing as it may expedite certain processes, or is it bad because he's further restricted and it could hamper any deals?

Relaying what I read regarding that thread - both the academic guy & the debt restructuring guy seem to think that it may be a blessing in disguise having this Haitong institution now involved - given their interests and needs vs. DY

It's a good piece.
It does appear to be slightly more positive as it takes the emotion out of the sale (i.e. Dai doing whatever he thinks is best for him)
At least with the bank making decisions, it would be more transactional. I would suggest they would see that some money back is better than getting nothing.
Under the cover of EFL new owners could surely not be any worse, could they?
I quite like the idea of the loathsome toad being locked up too.

[Orion1871]

This may be naive, but does anyone know what this means for ReadingFC?

Is it somehow a good thing as it may expedite certain processes, or is it bad because he's further restricted and it could hamper any deals?

Relaying what I read regarding that thread - both the academic guy & the debt restructuring guy seem to think that it may be a blessing in disguise having this Haitong institution now involved - given their interests and needs vs. DY

It's a good piece.
It does appear to be slightly more positive as it takes the emotion out of the sale (i.e. Dai doing whatever he thinks is best for him)
At least with the bank making decisions, it would be more transactional. I would suggest they would see that some money back is better than getting nothing.
Under the cover of EFL new owners could surely not be any worse, could they?
I quite like the idea of the loathsome toad being locked up too.

Put his show trial on a big screen in the stadium and sell tickets. Guaranteed revenue for the club.

[royalstevep68]

What an absolute mess. This couldn’t get any worse. Either the bank accepts the sale and loss or the debt is transferred to Dai. Can’t see any other option being viable, unless Dai sells the club for free with the debt, which might attract some.

Seems Dai is in massive debt then, wow maybe £1 billion , eek


EFL also have alot to answer for too.

[Royals and Racers]

What an absolute mess. This couldn’t get any worse. Either the bank accepts the sale and loss or the debt is transferred to Dai. Can’t see any other option being viable, unless Dai sells the club for free with the debt, which might attract some.

Seems Dai is in massive debt then, wow maybe £1 billion , eek


EFL also have alot to answer for too.

It’s about time RFC came clean on what the situation is with Dai’s financial situation - some hope !!!

[Snowflake Royal]

EFL also have alot to answer for too.

For what? None of this has anything to do with them

[Sutekh]

EFL also have alot to answer for too.

For what? None of this has anything to do with them

The FL are a little culpable in this mess as the PL had rejected Dai's bid for Hull because of his involvement

This is what SKY wrote about the failed Hull takeover back in May 2017

An attempt by Dai Yongge and Hawken Xiu Li, his sister, to buy Hull involved the use of a third party, who insisted that he controlled the relevant funds necessary to undertake the deal.

It subsequently transpired that the finances were actually under the control of Mr Dai, with the Financial Times reporting last month that a Premier League investigation into him had raised several "red flags" over his commercial background.

[Crusader Royal]

What an absolute mess. This couldn’t get any worse. Either the bank accepts the sale and loss or the debt is transferred to Dai. Can’t see any other option being viable, unless Dai sells the club for free with the debt, which might attract some.

Seems Dai is in massive debt then, wow maybe £1 billion , eek


EFL also have alot to answer for too.

It’s about time RFC came clean on what the situation is with Dai’s financial situation - some hope !!!

RFC are Dai, there is no one to ‘come clean’. The only people at the club are the poor so and sos who are work8ng hard to keep things afloat. I doubt they know anymore than we do.

[Royals and Racers]

What an absolute mess. This couldn’t get any worse. Either the bank accepts the sale and loss or the debt is transferred to Dai. Can’t see any other option being viable, unless Dai sells the club for free with the debt, which might attract some.

Seems Dai is in massive debt then, wow maybe £1 billion , eek


EFL also have alot to answer for too.

It’s about time RFC came clean on what the situation is with Dai’s financial situation - some hope !!!

RFC are Dai, there is no one to ‘come clean’. The only people at the club are the poor so and sos who are work8ng hard to keep things afloat. I doubt they know anymore than we do.

We have a secretary Graham Odell he must know a lot.