CONFRIMED: Latest rumours Confrimed as Unconfrimed

[Snowflake Royal]

I wonder if it would get more or less complicated if / when Dai dies.

If the shite he is in back home is as deep as suggested, this seems like a very possible outcome.

How about this. Dai is convicted of fraud and treason in China and the Chinese state seizes all his assets - we become owned by a foreign state, which I believe the FL doesn’t permit.

Pretty sure it’s allowed as people were (rightly) moaning about it not too long ago.

Pretty sure the Newcastle takeover had to try to show they weren’t state owned even though they blatantly are in reality

[Armadillo Roadkill]

Being owned by a state-owned bank is only as dodgy as being owned by a state's sovereign fund, as is the case with Newcastle.

And EFL couldn't do anything anyway - their ability to affect things may not stretch to the recovery of debt through the courts in the PRC. It's not like they can apply any "fit and proper" test as part of the proceedings of a Chinese bank against a Chinese citizen who has defaulted on their loans.

Although, judging from past miscomprehension of the EFL's role, there will be some on here who suggest the EFL will be to blame, and will probably insist they invade Manchuria as a result.

[Snowflake Royal]

Being owned by a state-owned bank is only as dodgy as being owned by a state's sovereign fund, as is the case with Newcastle.

And EFL couldn't do anything anyway - their ability to affect things may not stretch to the recovery of debt through the courts in the PRC. It's not like they can apply any "fit and proper" test as part of the proceedings of a Chinese bank against a Chinese citizen who has defaulted on their loans.

Although, judging from past miscomprehension of the EFL's role, there will be some on here who suggest the EFL will be to blame, and will probably insist they invade Manchuria as a result.

They could issue a sell order and kick us out the league. But that's it.

[Armadillo Roadkill]

Being owned by a state-owned bank is only as dodgy as being owned by a state's sovereign fund, as is the case with Newcastle.

And EFL couldn't do anything anyway - their ability to affect things may not stretch to the recovery of debt through the courts in the PRC. It's not like they can apply any "fit and proper" test as part of the proceedings of a Chinese bank against a Chinese citizen who has defaulted on their loans.

Although, judging from past miscomprehension of the EFL's role, there will be some on here who suggest the EFL will be to blame, and will probably insist they invade Manchuria as a result.

They could issue a sell order and kick us out the league. But that's it.

Agreed, and they wouldn't do that.

[Royals and Racers]

The club itself is clean and above board. What lies behind in Dai's web is where the issues lie. In particular the company in the Virgin Islands. Which has no obligation to publish anything at all. Hidden behind a solid wall of secrecy.

If the club is clean and above board, then why haven’t the auditors and the club presented the accounts to the city ?

In the middle of a takeover? For every chancer to come in and low ball. I can definitely see why they haven’t published them.

But these accounts are up to 30th June 2023 - 16 months ago so i would suggest hardly relevant to a takeover today.

[Lower West]

No I'm sure someone at the club, currently employed by Dai, is going to publish a detailed breakdown of the club's commerically sensitive financial information and Dai's personal financial records and legal travails any moment now, so a few Reading fans can have the satisfaction of knowing what's going behind the scenes at a private commercial entity.

The club itself is clean and above board. What lies behind in Dai's web is where the issues lie. In particular the company in the Virgin Islands. Which has no obligation to publish anything at all. Hidden behind a solid wall of secrecy.

If the club is clean and above board, then why haven’t the auditors and the club presented the accounts to the city ?

For the auditors to sign off the accounts as a going concern. They need reassurance that the club has adequate finance (i.e. is solvent) for 12 months following the date the balance sheet is signed by the directors. That reassurance cannot be given. Meanwhile what money there is drips away. Cannot be much else that can be cut from the overall operating budget.

[JR]

The club itself is clean and above board. What lies behind in Dai's web is where the issues lie. In particular the company in the Virgin Islands. Which has no obligation to publish anything at all. Hidden behind a solid wall of secrecy.

If the club is clean and above board, then why haven’t the auditors and the club presented the accounts to the city ?

For the auditors to sign off the accounts as a going concern. They need reassurance that the club has adequate finance (i.e. is solvent) for 12 months following the date the balance sheet is signed by the directors. That reassurance cannot be given. Meanwhile what money there is drips away. Cannot be much else that can be cut from the overall operating budget.

Cannot delay it forever. The accounts could still be signed off as a going concern but with a material uncertainty, which to be fair feels sensible!

[Snowflake Royal]

Apart from the fact everyone knows we aren't a going concern whilst Dai is here.

[Forty]

Here's my conspiracy theory plan. Bring on the flames.

£55 million secured on the stadium by the bank ( or whatever the number is). Clearly worth more than the club is valued at because nobody is paying up, so the bank are being asked to accept a few million in lieu of their big bill. Hmph. They won't be happy.

But Kier and his mob want millions of new houses and accommodation. IF the club can be wiped out - AND the club don't own the stadium, then is there a scenario where the big development comes back into view. The club gets 'administrationed' so Dai get's nothing, and the developers are able to offer the bank much more for their £55million asset than any new football club owner is prepared to. Reading gets its shiny new homes, Dai gets nothing, bank gets more for it's shareholders. That community value protection thing would get quickly erased by the waft of 'wad' being waved at councillors.........

[Linden Jones' Tash]

So.... this is all Labour's fault...?

What are you, the Daily Mail?...

[Forty]

So.... this is all Labour's fault...?

What are you, the Daily Mail?...

More the Telegraph, thanks.

Just good maths. 1+1+1=30

[Hound]

Not sure it’s a great location for a load of houses tbh. There’s a reason Madejski picked it up cheap. Just don’t think the value of that land would be that high

[Brogue]

Would struggle to knock the stadium down also, considering the hotel is actually built into it. And the hotel being owned by a different entity

[Sutekh]

Here's my conspiracy theory plan. Bring on the flames.

£55 million secured on the stadium by the bank ( or whatever the number is). Clearly worth more than the club is valued at because nobody is paying up, so the bank are being asked to accept a few million in lieu of their big bill. Hmph. They won't be happy.

But Kier and his mob want millions of new houses and accommodation. IF the club can be wiped out - AND the club don't own the stadium, then is there a scenario where the big development comes back into view. The club gets 'administrationed' so Dai get's nothing, and the developers are able to offer the bank much more for their £55million asset than any new football club owner is prepared to. Reading gets its shiny new homes, Dai gets nothing, bank gets more for it's shareholders. That community value protection thing would get quickly erased by the waft of 'wad' being waved at councillors.........

Only the dangers and gasses from a former landfill site to worry about then. Even Labour wouldn’t be that retarded.

[mikey_1871]

Yes, land contmination issues makes the stadium site unsuitable for housing.
No way anyone is getting planning permission there!

Wish people would get off this particular unsubstantiated speculation/scaremongering. It is not going to happen.

[Crusader Royal]

Yes, land contmination issues makes the stadium site unsuitable for housing.
No way anyone is getting planning permission there!

Wish people would get off this particular unsubstantiated speculation/scaremongering. It is not going to happen.

REP got planning permission and includes residential elements…..
Doesn’t mean the ‘theory’ isn’t a load of nonsense.

[Brogue]

Yes, land contmination issues makes the stadium site unsuitable for housing.
No way anyone is getting planning permission there!

Wish people would get off this particular unsubstantiated speculation/scaremongering. It is not going to happen.

what about royal elm park development? doesn't seem to be an issue with building houses conference centres hotels and christ know what on the car park...

[mikey_1871]

Yes, land contmination issues makes the stadium site unsuitable for housing.
No way anyone is getting planning permission there!

Wish people would get off this particular unsubstantiated speculation/scaremongering. It is not going to happen.

what about royal elm park development? doesn't seem to be an issue with building houses conference centres hotels and christ know what on the car park...

There is less restriction on conference centre etc as people won't be living there.
The residential is located well over to the west of the site where I understand there is less risk.
The remediation from the former landfill site (the release of gas etc) is dealt with within the stadium complex. If you knocked it down then you're going to have to find another way of doing that, and you are not going to be allowed to do that next to residential properties.

[Hendo]

Here's my conspiracy theory plan. Bring on the flames.

£55 million secured on the stadium by the bank ( or whatever the number is). Clearly worth more than the club is valued at because nobody is paying up, so the bank are being asked to accept a few million in lieu of their big bill. Hmph. They won't be happy.

But Kier and his mob want millions of new houses and accommodation. IF the club can be wiped out - AND the club don't own the stadium, then is there a scenario where the big development comes back into view. The club gets 'administrationed' so Dai get's nothing, and the developers are able to offer the bank much more for their £55million asset than any new football club owner is prepared to. Reading gets its shiny new homes, Dai gets nothing, bank gets more for it's shareholders. That community value protection thing would get quickly erased by the waft of 'wad' being waved at councillors.........

[mikey_1871]

Here's my conspiracy theory plan. Bring on the flames.

£55 million secured on the stadium by the bank ( or whatever the number is). Clearly worth more than the club is valued at because nobody is paying up, so the bank are being asked to accept a few million in lieu of their big bill. Hmph. They won't be happy.

But Kier and his mob want millions of new houses and accommodation. IF the club can be wiped out - AND the club don't own the stadium, then is there a scenario where the big development comes back into view. The club gets 'administrationed' so Dai get's nothing, and the developers are able to offer the bank much more for their £55million asset than any new football club owner is prepared to. Reading gets its shiny new homes, Dai gets nothing, bank gets more for it's shareholders. That community value protection thing would get quickly erased by the waft of 'wad' being waved at councillors.........