CONFIMRED - The final countdown

[Extended-Phenotype]

I mean, there is the distant dream that Dai rightly compensates Couhig <insert fair amount here> and sells to whoever this other joker is that is suddenly the greatest human alive. OR that Dai rightly agrees to set the max sum aside pre/post sale as he was asked, sells the club, oxf*rd off and takes his fight with Couhig with him. But again we always seem to end up with relying on Dai to do the right thing. The guy is a oxf*rd bag of weasel spunk.

[Stranded]

I'm not sure this is quite as dire as is suggested.

The point taken in court is that, on 4 April, Dai will be disqualified and need to cease being a Director/having control of the club. The requirement in the circumstances under the EFL regs is specifically:

"within 28 days of receipt of written notice given in accordance with paragraph 5.1, require the Director to resign as a Director and/or take such other steps as are necessary in all the circumstances to ensure that they no longer come within the definition of Director"

You can see a world where Dai/the club are able to wangle a further extension by demonstrating that (i) he has resigned as a director and (ii) is doing everything possible to sell the club.

Then again, it is the EFL we are talking about....

Right but how does the club get funded giving we are losing money hand over fist and Dai would not be able to put money into the club even if he wanted to? Sell the 4 or 5 players we have left under contract?

Even if he has resigned as a Director - would he not not still have a controlling number of shares, or do you expect him to freely give those up to show he has no say over the running of the club?

[Sutekh]

I'm not sure this is quite as dire as is suggested.

The point taken in court is that, on 4 April, Dai will be disqualified and need to cease being a Director/having control of the club. The requirement in the circumstances under the EFL regs is specifically:

"within 28 days of receipt of written notice given in accordance with paragraph 5.1, require the Director to resign as a Director and/or take such other steps as are necessary in all the circumstances to ensure that they no longer come within the definition of Director"

You can see a world where Dai/the club are able to wangle a further extension by demonstrating that (i) he has resigned as a director and (ii) is doing everything possible to sell the club.

Then again, it is the EFL we are talking about....

Dai has until 4th April to sell the club. If he does not then Reading could conceivably be thrown out of the league between Blackpool away and Wycombe at home.

[Mr Angry]

Firstly, thanks to el diablo - quality reportage!

Secondly, we are definitely entering the end game now, for better or for worse, or even for the very worst........by the end of the season we will either have new owners, or no club.

[royalgent]

I'm not sure this is quite as dire as is suggested.

The point taken in court is that, on 4 April, Dai will be disqualified and need to cease being a Director/having control of the club. The requirement in the circumstances under the EFL regs is specifically:

"within 28 days of receipt of written notice given in accordance with paragraph 5.1, require the Director to resign as a Director and/or take such other steps as are necessary in all the circumstances to ensure that they no longer come within the definition of Director"

You can see a world where Dai/the club are able to wangle a further extension by demonstrating that (i) he has resigned as a director and (ii) is doing everything possible to sell the club.

Then again, it is the EFL we are talking about....

Right but how does the club get funded giving we are losing money hand over fist and Dai would not be able to put money into the club even if he wanted to? Sell the 4 or 5 players we have left under contract?

Even if he has resigned as a Director - would he not not still have a controlling number of shares, or do you expect him to freely give those up to show he has no say over the running of the club?

Absolutely agree it would be a difficult position but the point is its not a May 4th hard deadline/lights out:

- You could place the shares in a blind trust, effectively keeping ownership but yielding direct control (similar to the approach taken by Rishi Sunak when he was PM); and
- The wording of the EFL provision is ambiguous - you in theory meet disqualification requirements by taking "such other steps as are necessary in all the circumstances" to not be a director. If you can (for example) provide near-final transaction documents then I can see an argument you have met that requirement without having actually sold the shares (not saying its a good argument, but it might buy you more time)

[Snowflake Royal]

Final home game of the season is going to be a frisky affair if we haven't been sold.

Chances of the game actually being completed must be pretty low.

[Sutekh]

At the end of the day there’s no reason why the club can’t have been sold to either Platek or Couhig by 4th April. We now await Dai’s last decision as owner of the club, will he sell or fold?

[El Diablo]

Chronicle reports loss of court case but injunction to prevent sale of club denied

What that doesn't say is RFC council offered 6m to put into escrow given Couhigs claim (12m) is totally unsubstantiated

[El Diablo]

Chronicle reports loss of court case but injunction to prevent sale of club denied

What that doesn't say is RFC council offered 6m to put into escrow given Couhigs claim (12m) is totally unsubstantiated

[Hendo]

You can say that again!

[The Royal Forester]

Chronicle reports loss of court case but injunction to prevent sale of club denied

What that doesn't say is RFC council offered 6m to put into escrow given Couhigs claim (12m) is totally unsubstantiated

Just to clarify please. Counsel (legal officer) or Reading Council (Borough Council)? I assume it's the former.

[The Royal Forester]

Could Dai get round the you must sell instruction by just transferring his shares to his sister?

[Extended-Phenotype]

Could Dai get round the you must sell instruction by just transferring his shares to his sister?

I guess that would depend on whether his sister is “fit and proper”.

I’ve had worse.

[KDRF]

If Dai doesn't sell before 4th April and is then disqualified as our owner, who would technically own the club after this point?

[rabidbee]

Dai. The EFL don't have jurisdiction over property law, all they can do is expel clubs that don't conform to their regulations.

[Uke]

So it seems like it will be Couhig's group who will be our owners at the end as there is no other agreed sale.

All along it's been pointing at Couhig

[Snowflake Royal]

So it seems like it will be Couhig's group who will be our owners at the end as there is no other agreed sale.

All along it's been pointing at Couhig

Of the 3 options, Couhig is by far the least likely. Surely Dai will burn the club to the ground before losing to Couhig

[stealthpapes]

El Diablo’s last update suggests selling to RC is still an option (“ Redwood still want to buy “).

As I see it the basic situation now is the ball is with Dai. He has 3 options

1. complete the Platek deal and hopes he wins in June to get the £6m security back
2. sell to Couhig (presumably for less) and the June case goes away
3. fold the club and lose everything

Think 3 is definitely out, personally I’d hope for 1.

3 looks the most likely to me.

It's interesting that the date mentioned that the EFL will disqualify him from is April 4th. Isn't 30 day he has then to sell the club?

30 days takes us to the 4th May.

Our last game of the season, 3rd May.

You don't need to be a genius to see the path the EFL are going down.

Enjoy the next 9 games.

Dai. The EFL don't have jurisdiction over property law, all they can do is expel clubs that don't conform to their regulations.

This all seems pretty apposite.

[Snowflake Royal]

3 looks the most likely to me.

It's interesting that the date mentioned that the EFL will disqualify him from is April 4th. Isn't 30 day he has then to sell the club?

30 days takes us to the 4th May.

Our last game of the season, 3rd May.

You don't need to be a genius to see the path the EFL are going down.

Enjoy the next 9 games.

Dai. The EFL don't have jurisdiction over property law, all they can do is expel clubs that don't conform to their regulations.

This all seems pretty apposite.

With the additional caveat that FL penalties usually have to go through an independent committee who seem to have no spine.

Though it sounds like it's more a case that he's objectively failed a test and so it's all automatic

[Hound]

https://www.readingfc.co.uk/news/2025/m ... -march-25/