New embargo incoming

[blythspartan]

As I mentioned last week, a family friend of ours wrote the statement on behalf of Pang last week, which I mentioned only because it was questioned if Pang wrote it himself or not. She says what's become public so far doesn't even scratch the surface. It's all rather depressing! There aren't many good people at the club any more, especially that date back to the SJM era, and those that are are absolutely heart broken and say the atmosphere at the club is "toxic".

Tbh that sounds like some places I have worked. The corporate / commercial world can be pretty tough these days.

[The Green Programme]

Wow..... This is all a bit like Brexit....

We are hundreds of millions of pounds in debt and the owner need to find a few million a month just to keep the club afloat.

Relegation means a 66% drop in income.


What did people think was going to happen????????

Common sense left the building a good few years ago - but slagging off the person single handedly keeping the club solvent always seemed like a good plan...

Good work lads!

To be like Brexit it would mean our Club was being run by Swindon fans whose objective in life was to destroy any chance of our Club succeeding….


If anything, it’s a little more like our COVID response - accepting payment for doing nothing and not wanting to pay the price of it all.

Our Club is in a horrible mess.

It began with the Russian, deeply worsened by Gourlay, followed by a series of disastrous decisions under our current owners; including the selling of the ground and other land.

There also seems to be some questionable Land sale/financing being undertaken now or recently to create cash flow.

We have plummeted as a Club; in all areas.

And we don’t know what is going on… or when all this is going to end…

[Linden Jones' Tash]

Wow..... This is all a bit like Brexit....

We are hundreds of millions of pounds in debt and the owner need to find a few million a month just to keep the club afloat.

Relegation means a 66% drop in income.


What did people think was going to happen????????

Common sense left the building a good few years ago - but slagging off the person single handedly keeping the club solvent always seemed like a good plan...

Good work lads!

To be like Brexit it would mean our Club was being run by Swindon fans whose objective in life was to destroy any chance of our Club succeeding….


If anything, it’s a little more like our COVID response - accepting payment for doing nothing and not wanting to pay the price of it all.

Our Club is in a horrible mess.

It began with the Russian, deeply worsened by Gourlay, followed by a series of disastrous decisions under our current owners; including the selling of the ground and other land.

There also seems to be some questionable Land sale/financing being undertaken now or recently to create cash flow.

We have plummeted as a Club; in all areas.

And we don’t know what is going on… or when all this is going to end…

Yes, I can see that too.

My Brexit take was more around the cakeism shown by some that implies a complete lack of understanding around the finances below the Premier League.

They want the club to be run sustainably, but also be competing for the play offs......

Like those who bought the idea we could leave the CU & SM and not cause massive economic damage and drive off multi national investment in the UK

[Snowflake Royal]

As I mentioned last week, a family friend of ours wrote the statement on behalf of Pang last week, which I mentioned only because it was questioned if Pang wrote it himself or not. She says what's become public so far doesn't even scratch the surface. It's all rather depressing! There aren't many good people at the club any more, especially that date back to the SJM era, and those that are are absolutely heart broken and say the atmosphere at the club is "toxic".

Cheers. Hope there's no come back on her for you being this open with the info she's given you.

[blythspartan]

I sent the EFL an email which was fairly constructive and they sent me the below response. Nothing we don’t know but I thought I’d share it on here.

Thank you for your e-mail, we appreciate you getting in touch.

The EFL acknowledges that it has been a difficult period of time for Reading supporters and understand the frustration amongst the fanbase.

Broadly speaking, the League has a responsibility to all its 72 Clubs to uphold its regulations and take action as appropriate. It is these rules Clubs themselves have voted on and agreed to implement, and they expect the League to apply them to ensure fair and even competition and for example, ensure that no Clubs gain a competitive advantage by breaching these rules without consequence.

As you will be aware in April 2023, the independent Club Financial Reporting Unit released a statement confirming “Reading Football Club will be deducted six points from the 2022/23 Championship table, after the Club admitted that it has failed to comply with the budget restrictions imposed, following a previous breach of the EFL’s Profitability and Sustainability Rules (P&S).”

“The points deduction is an activation of a suspended six-point penalty, which was set out in the terms of an Agreed Decision between Reading and the EFL in November 2021”.

It is also worth noting that this entire process is under the jurisdiction of the Club Financial Reporting Unit, independent of the EFL Board and seeks to ensure EFL Clubs’ compliance with relevant financial regulations.

The latest EFL statement comes after Reading have failed to pay players’ wages on time on several occasions, which is a separate breach of EFL regulations and as Reading have until 29 June to respond to the charges, at this stage we are unable to comment any further than the statement, which you can read on EFL.com HERE.

Thank you for contacting the EFL.

Kind Regards

Danny
Supporter Services Department
EFL

Please note our staff are working flexibly from home and the office – please continue to contact us via telephone and email.

[tmesis]

As I mentioned last week, a family friend of ours wrote the statement on behalf of Pang last week, which I mentioned only because it was questioned if Pang wrote it himself or not. She says what's become public so far doesn't even scratch the surface. It's all rather depressing! There aren't many good people at the club any more, especially that date back to the SJM era, and those that are are absolutely heart broken and say the atmosphere at the club is "toxic".

Tbh that sounds like some places I have worked. The corporate / commercial world can be pretty tough these days.

One big difference is that even if you find the practices of corporate management dreadful, you can at least see their reasoning.

At Reading there's no sense of what exactly they are trying to achieve by running things in such an unpopular way.

[Lower West]

At Reading there's no sense of what exactly they are trying to achieve by running things in such an unpopular way.

Clash of cultures. East meets West.................

[On Strings]

At Reading there's no sense of what exactly they are trying to achieve by running things in such an unpopular way.

Clash of cultures. East meets West.................

Ying and Yang...

[Elm Park Kid]

"Non-Payment of PAYE Owed to HMRC" has now been added to our list of Transfer Embargo reasons.

[donh99]

"Non-Payment of PAYE Owed to HMRC" has now been added to our list of Transfer Embargo reasons.

Source?

[WestYorksRoyal]

Serious shit. HMRC don't mess about. Winding up petition incoming unless we find the funds.

[Elm Park Kid]

[NathStPaul]

Serious shit. HMRC don't mess about. Winding up petition incoming unless we find the funds.

You'll know far more than me on this so I'll ask you.

The owner is an extremely rich man, he can easily pay off any loan fees, wages, tax bill etc. Is he prohibited from doing so by the EFL rules or can he just not be arsed? I know that may be a silly question but I try to avoid all financial matters in football if I can.

[Elm Park Kid]

Serious shit. HMRC don't mess about. Winding up petition incoming unless we find the funds.

You'll know far more than me on this so I'll ask you.

The owner is an extremely rich man, he can easily pay off any loan fees, wages, tax bill etc. Is he prohibited from doing so by the EFL rules or can he just not be arsed? I know that may be a silly question but I try to avoid all financial matters in football if I can.

There are a number of potential reasons:
1. This could just be pure incompetence and the tax bill hasn't been paid due to administrative oversights.
2. The owner might be facing difficulties in accessing/transferring capital from China. Either due to government/legal interference or decisions that he has taken which has 'tied up' his wealth.
3. The owner might simply have decided for whatever reason to stop funding the club. Maybe he's had enough - maybe he has other priorities.

This has nothing to do with EFL restrictions.

[windermereROYAL]

"Non-Payment of PAYE Owed to HMRC" has now been added to our list of Transfer Embargo reasons.

You said yourself in your latest post that this issue is nothing to do with the EFL so why would it impact the embargo process?

[Pepe the Horseman]

Serious shit. HMRC don't mess about. Winding up petition incoming unless we find the funds.

You'll know far more than me on this so I'll ask you.

The owner is an extremely rich man, he can easily pay off any loan fees, wages, tax bill etc. Is he prohibited from doing so by the EFL rules or can he just not be arsed? I know that may be a silly question but I try to avoid all financial matters in football if I can.

There are a number of potential reasons:
1. This could just be pure incompetence and the tax bill hasn't been paid due to administrative oversights.
2. The owner might be facing difficulties in accessing/transferring capital from China. Either due to government/legal interference or decisions that he has taken which has 'tied up' his wealth.
3. The owner might simply have decided for whatever reason to stop funding the club. Maybe he's had enough - maybe he has other priorities.

This has nothing to do with EFL restrictions.

If it's 3 what happens next?

[NathStPaul]

You'll know far more than me on this so I'll ask you.

The owner is an extremely rich man, he can easily pay off any loan fees, wages, tax bill etc. Is he prohibited from doing so by the EFL rules or can he just not be arsed? I know that may be a silly question but I try to avoid all financial matters in football if I can.

There are a number of potential reasons:
1. This could just be pure incompetence and the tax bill hasn't been paid due to administrative oversights.
2. The owner might be facing difficulties in accessing/transferring capital from China. Either due to government/legal interference or decisions that he has taken which has 'tied up' his wealth.
3. The owner might simply have decided for whatever reason to stop funding the club. Maybe he's had enough - maybe he has other priorities.

This has nothing to do with EFL restrictions.

If it's 3 what happens next?

We send Royal Jimmy over to China to take a shit through Dai's letterbox.

[Pepe the Horseman]

There are a number of potential reasons:
1. This could just be pure incompetence and the tax bill hasn't been paid due to administrative oversights.
2. The owner might be facing difficulties in accessing/transferring capital from China. Either due to government/legal interference or decisions that he has taken which has 'tied up' his wealth.
3. The owner might simply have decided for whatever reason to stop funding the club. Maybe he's had enough - maybe he has other priorities.

This has nothing to do with EFL restrictions.

If it's 3 what happens next?

We send Royal Jimmy over to China to take a shit through Dai's letterbox.

I'd very much like to hear RJ's thoughts on the latest development.

[Elm Park Kid]

"Non-Payment of PAYE Owed to HMRC" has now been added to our list of Transfer Embargo reasons.

You said yourself in your latest post that this issue is nothing to do with the EFL so why would it impact the embargo process?

I meant that the EFL restrictions wouldn't stop us from paying our tax bill. But non-payment of taxes is obviously an offense under EFL regulations:

16.14 Each Club must by 7 April in each Season provide evidence to The League to confirm that, subject to Regulation 16.15.2:

16.14.1 it has satisfied all Transfer Fee, Compensation Fee, Loan Fee or subsequent payments which had by the 31 December (Relevant Date) become due under the terms of any transfer; and

16.14.2 it had as at the Relevant Date paid all sums due and payable to or in respect of an employee employed during the relevant calendar year (including national insurance contributions and income tax deducted under the ‘pay as you earn’ system).

https://www.efl.com/-more/governance/ef ... n-4-clubs/

[The Royal Forester]

You'll know far more than me on this so I'll ask you.

The owner is an extremely rich man, he can easily pay off any loan fees, wages, tax bill etc. Is he prohibited from doing so by the EFL rules or can he just not be arsed? I know that may be a silly question but I try to avoid all financial matters in football if I can.

There are a number of potential reasons:
1. This could just be pure incompetence and the tax bill hasn't been paid due to administrative oversights.
2. The owner might be facing difficulties in accessing/transferring capital from China. Either due to government/legal interference or decisions that he has taken which has 'tied up' his wealth.
3. The owner might simply have decided for whatever reason to stop funding the club. Maybe he's had enough - maybe he has other priorities.

This has nothing to do with EFL restrictions.

If it's 3 what happens next?

We follow his two other clubs into oblivion.