CONFIMRED - The final countdown

[Royal_jimmy]

£20m loss, the 2024 accounts are due next week, if we still have a club next season we`ll probably start on minus points.

This would presumably be for the last Championship season, not the first L1 season, which will be due shortly, right?

How the oxf*rd have we lost £20m with our wages capped to £16m and a conservatively estimated income of about £12m in the Championship ffs?

Isn't this why we got docked 6 points? Because we didn't abide to the £16m wage bill by failing to offload players like Liam Moore? Mind you his salary was only 1/4 of the overspend maximum

[Royal_jimmy]

On the face of the accounts there is:

18m of revenue.
7.6m profit on sale of investments (No idea what this was, a company or something)
1.6m profit on sale of players.

(24m) in salaries.
(4.8m) in amortisation This is transfer fees
(8m) intercompany loan provision. Don't know what this is, not much explanation, providing for a bad loan with RFC group?

There is 9m extra costs.

Digging into other pages some of that is:
50k of interest.
65k on intangibles, probably agents fees as part of signing people on frees, or signing on payments.
300k of depreciation on club owned assets.
1.5m on operating lease. That'll be rent for the stadium.
458k for director remuneration
700k impairment (writing off) transfer fees of players released early or sold.
150k on pensions of club employees


We appear too have sold some subsidiary that was worth 3.7m (this would be where that 7m of profit came from up top)


If you add all that up you get to a loss of £12m, there is another 9m in admin costs buried that isn't disclosed. Strange.

Isn't the amortisation a spread of transfer fees over a players contract. We signed Puscas for £8m on a 5 year deal so that'd be amortised as £1.6m a year. Joao came in for around £5m so that's £1.25m a year. Ejaria was also not cheap so that makes sense if it's that.

[tmesis]

On the face of the accounts there is:

1.5m on operating lease. That'll be rent for the stadium.
458k for director remuneration

So he's effectively paying himself £2 million a year?

[Mid Sussex Royal]

On the face of the accounts there is:

1.5m on operating lease. That'll be rent for the stadium.
458k for director remuneration

So he's effectively paying himself £2 million a year?

That's total director remuneration, could include Bowen as director of football back then, probably Pang too.

[Sutekh]

On the face of the accounts there is:

1.5m on operating lease. That'll be rent for the stadium.
458k for director remuneration

So he's effectively paying himself £2 million a year?

That's total director remuneration, could include Bowen as director of football back then, probably Pang too.

Howe? Raittininassinittinatan (the Thai guy)?

[The Cube]

The women's accounts were also published. The company was wound up, and there seems to be some sort of adjustment to do that. So I've wondered if thats part of the inter-company transfer on the men's accounts.

[Lower West]

The women's accounts were also published. The company was wound up, and there seems to be some sort of adjustment to do that. So I've wondered if thats part of the inter-company transfer on the men's accounts.

That's the £8 million inter co provision in the RFC accounts. As the loan has been written off in the Reading Women's accounts in the P&L.

[Linden Jones' Tash]

https://www.theguardian.com/football/20 ... dApp_Other

A reasonable summary....

Don't think there's anything 'new new' apart from the stark reality of the impending cliff edge...

[Hound]

I’d be very suprised if the EFl don’t extend the deadline til end of season to give Couhig/Platek time to complete a deal

[WestYorksRoyal]

I’d be very suprised if the EFl don’t extend the deadline til end of season to give Couhig/Platek time to complete a deal

They will want 72 next season. I don't logistically what that means for fixture scheduling, but that will determine what our real deadline is. Probably early June. Perhaps we'll die on my birthday that is around that time.

[Sutekh]

I’d be very suprised if the EFl don’t extend the deadline til end of season to give Couhig/Platek time to complete a deal

But how long is needed to give Dai a chance to complete a deal?

[Greatwesternline]

The women's accounts were also published. The company was wound up, and there seems to be some sort of adjustment to do that. So I've wondered if thats part of the inter-company transfer on the men's accounts.

That's the £8 million inter co provision in the RFC accounts. As the loan has been written off in the Reading Women's accounts in the P&L.

Interesting that Dai put £8m into the women's team. The attendances were close to zero. A fairly enlightened owner Dai was when it came to the women's team.

For all his faults.

[WestYorksRoyal]

I’d be very suprised if the EFl don’t extend the deadline til end of season to give Couhig/Platek time to complete a deal

But how long is needed to give Dai a chance to complete a deal?

How long is a piece of string? Clearly their play is to focus the mind and end his procrastination, with disastrous consequences if it backfires.

[leon]

We really are in a terrible state. Even Don Goodman is feeling sorry for us.

https://www.readingchronicle.co.uk/sport/25033160.reading-fc-fans-deserve-good-news--says-sky-sports-pundit/

[stealthpapes]

We really are in a terrible state. Even Don Goodman is feeling sorry for us.

https://www.readingchronicle.co.uk/sport/25033160.reading-fc-fans-deserve-good-news--says-sky-sports-pundit/

I know Don quite well, he's a mate of guys I know, and was a regular at my local on a Sunday - you'd sometimes have to help carry him out of the pub come closing time

Anyway, he's got a genuine soft spot for Reading, somehow, knows the situation but doesn't remember scoring in the play off final against us.

[Mid Sussex Royal]

We really are in a terrible state. Even Don Goodman is feeling sorry for us.

https://www.readingchronicle.co.uk/sport/25033160.reading-fc-fans-deserve-good-news--says-sky-sports-pundit/

I know Don quite well, he's a mate of guys I know, and was a regular at my local on a Sunday - you'd sometimes have to help carry him out of the pub come closing time

Anyway, he's got a genuine soft spot for Reading, somehow, knows the situation but doesn't remember scoring in the play off final against us.

Not a very accurate article. I'm sure Goodman scored the equaliser (1-1) early in the second half rather than the winner....and I don't think our fans' beef about him is to do with that, more so his comments about the Wolves side that won the league being better than 106 side.

[El Diablo]

Bearwood's accounts also published - running costs (admin expenses) - £875k - which is in line with previous year. It wipes it nose vs returns against academy player sales / using academy players in the matchday squad, given we've not bought anyone, I guess.

Creditors - £39m - which is the loan from the Parent (Dai) - obvs for the cost to purchase / build.

[Crusader Royal]

The women's accounts were also published. The company was wound up, and there seems to be some sort of adjustment to do that. So I've wondered if thats part of the inter-company transfer on the men's accounts.

That's the £8 million inter co provision in the RFC accounts. As the loan has been written off in the Reading Women's accounts in the P&L.

Interesting that Dai put £8m into the women's team. The attendances were close to zero. A fairly enlightened owner Dai was when it came to the women's team.

For all his faults.

There are lots of things he did which were in themselves positive, (lots ? Some ?) and I don’t think much of what he has done has been from malice, or dishonesty in a criminal sense. It’s just been naive, inconsistent, illogical….. still has the same effect sadly

[leon]

We really are in a terrible state. Even Don Goodman is feeling sorry for us.

https://www.readingchronicle.co.uk/sport/25033160.reading-fc-fans-deserve-good-news--says-sky-sports-pundit/

I know Don quite well, he's a mate of guys I know, and was a regular at my local on a Sunday - you'd sometimes have to help carry him out of the pub come closing time

Anyway, he's got a genuine soft spot for Reading, somehow, knows the situation but doesn't remember scoring in the play off final against us.

Really?? Whenever he's co-commentated on games on the past he's slagged us off!

[Hound]

I’d be very suprised if the EFl don’t extend the deadline til end of season to give Couhig/Platek time to complete a deal

But how long is needed to give Dai a chance to complete a deal?

End of season. If nothing shortly after final fixture it’ll be curtains