Embargos, HMRC Payment defaults, non payment of wages, the usual under Dai Wrongge

[WestYorksRoyal]

And let's face it, absolute mugs at the same time.

Yep, definitely both.

I'd like to think at this late stage that it's a promising sign that a sale is proceeding, otherwise why throw away more money on a dead duck.

Because they're Reading fans hoping for the best? They're probably hoping, like we all are, that if the can get through the next 4 - 6 weeks a takeover can save us; I'm sure many of us would do the same if we had the means. But I'd be surprised if they have inside knowledge that lets them know that.

Plus, it's just a rumour at the moment. We don't know that they've helped out again, it could be people adding 2 and 2 given it's a very believable rumour.

[From Despair To Where?]

Seriously, if I was a local business owner who'd bailed the club out twice already at significant cost to my business, on top of the 10 year commitment I'd already made, I'm not sure I would a third time 6 months later, without some sort of nod that I wouldn't just be throwing money away.

The ownership has to be sorted and we really are getting into shit or get off the pot territory.

[WestYorksRoyal]

From the hearsay on here, Twitter and experience in the autumn, even if Howe, Bowen and the potential buyer all think it's close, it could all fall through when Dai gets involved. If SCL have bailed us out again, it's a risky bet they're making as fans of the club.

If it all comes good, they should have something at the ground named after the permanently for their efforts this season.

[NathStPaul]

The entire stadium is named after them. HTH.

[From Despair To Where?]

I just don't think that, a business would throw another £200k at another failing business without some inkling that it's not going to be dead money. They're not that big a business to be able to just write those sorts of sums off.

Even as a loan, they'd get fcuk all out of administration or liquidation.

[WestYorksRoyal]

It's not a business decision. It's an emotional decision. These guys are the sole owners and can do what they want with its money. If there were external shareholders involved it would be a different matter. Put it in terms we can relate to, if you could trade in your summer holiday in the Mediterranean for a week at Butlins and pass the difference on to the club to give them the best chance of sure, would you? Even if you know it may still not be enough?

I hope you're right. They will want to get their money back. But it can't be anything other than a big risk when nobody hears a squeak from the guy who needs to sanction the sale.

[Snowflake Royal]

I just don't think that, a business would throw another £200k at another failing business without some inkling that it's not going to be dead money. They're not that big a business to be able to just write those sorts of sums off.

Even as a loan, they'd get fcuk all out of administration or liquidation.

I wouldn't have done it first or second time.

Your suggestion is certainly possible, but it just seems wishful thinking.

[windermereROYAL]

It would seem the Thai account that reported SCL have paid the tax isn`t very reliable, now reporting there will be grim news reported in the next week or so.

[From Despair To Where?]

I just don't think that, a business would throw another £200k at another failing business without some inkling that it's not going to be dead money. They're not that big a business to be able to just write those sorts of sums off.

Even as a loan, they'd get fcuk all out of administration or liquidation.

I wouldn't have done it first or second time.

Your suggestion is certainly possible, but it just seems wishful thinking.

Wasn't wishful thinking, just musing that, if true, they'd be mad to do it as a last throw of the dice.

If, as has now been suggested, it's not true, then it kind of confirms we're a bit fcuked.

[WestYorksRoyal]

The SCL rumour has been posted by a few random, whereas the mystery grim news is just the account which reported that Red Bird were being fronted by Storey

Fairly contradictory rumours by the same guy too. SCL are rescuing us again, but there's also awful news coming.

[Snowflake Royal]

The SCL rumour has been posted by a few random, whereas the mystery grim news is just the account which reported that Red Bird were being fronted by Storey

Fairly contradictory rumours by the same guy too. SCL are rescuing us again, but there's also awful news coming.

I'm not sure what grim news there could actually be.

Prospective new owners are awful? Ok well much as I don't want awful it keeps us in club longer

Prospective new owners have pulled out? Well the lack of any concrete progress hasn't exactly pointed at a deal going through in time to save us.

Wages/tax not being paid so more points deductions? Kinda secondary to the owners, doesn't matter if we're relegated without finding a new owner because we won't be starting next season anyway.

Dai has started liquidation proceedings? Well we're sleep walking into non-existence anyway. At least we'd have a resolution.

[WestYorksRoyal]

The SCL rumour has been posted by a few random, whereas the mystery grim news is just the account which reported that Red Bird were being fronted by Storey

Fairly contradictory rumours by the same guy too. SCL are rescuing us again, but there's also awful news coming.

I'm not sure what grim news there could actually be.

Prospective new owners are awful? Ok well much as I don't want awful it keeps us in club longer

Prospective new owners have pulled out? Well the lack of any concrete progress hasn't exactly pointed at a deal going through in time to save us.

Wages/tax not being paid so more points deductions? Kinda secondary to the owners, doesn't matter if we're relegated without finding a new owner because we won't be starting next season anyway.

Dai has started liquidation proceedings? Well we're sleep walking into non-existence anyway. At least we'd have a resolution.

Agree except the liquidation point. It can't be administration as who would pay them? And if it was somehow that, it would be good news anyway as it's a clear route to new ownership. And I don't really think liquidation makes sense either, it's definitely against Dai's financial interest.

[tmesis]

And I don't really think liquidation makes sense either, it's definitely against Dai's financial interest.

It would mean he could sell the real estate assets without having to fund the club in any way.

[Wycombe Royal]

And I don't really think liquidation makes sense either, it's definitely against Dai's financial interest.

It would mean he could sell the real estate assets without having to fund the club in any way.

Who's going to buy a studium and training ground with no sports club to pay rent to use it?

And please don't bring up Bearwood being sold for housing redevelopment. It's part of a historical park so housing will never be allowed.

[blythspartan]

It would seem the Thai account that reported SCL have paid the tax isn`t very reliable, now reporting there will be grim news reported in the next week or so.

That account is pretty unreliable. I’ve kind of accepted the worst so for me it can’t get much grimmer.

I am enjoying supporting the team this season and taking each game at a time. As much as getting beat by Wycombe yesterday wasn’t an enjoyable experience it really pales into insignificance given our overall situation. I just want it to be over now one way or the other.

[windermereROYAL]

It would seem the Thai account that reported SCL have paid the tax isn`t very reliable, now reporting there will be grim news reported in the next week or so.

That account is pretty unreliable. I’ve kind of accepted the worst so for me it can’t get much grimmer.

I am enjoying supporting the team this season and taking each game at a time. As much as getting beat by Wycombe yesterday wasn’t an enjoyable experience it really pales into insignificance given our overall situation. I just want it to be over now one way or the other.

Don`t we all, appears to have gone on forever, normality seems as far off as ever it was.

[Snowflake Royal]

9 games left. Then another 2 / 3 months max.

One way or another.

[tmesis]

And I don't really think liquidation makes sense either, it's definitely against Dai's financial interest.

It would mean he could sell the real estate assets without having to fund the club in any way.

Who's going to buy a studium and training ground with no sports club to pay rent to use it?

And please don't bring up Bearwood being sold for housing redevelopment. It's part of a historical park so housing will never be allowed.

Neither would have zero value without a club, and developers are happy to play the long game.

The thought of someone buying the club and the land for the purpose of charging rent is almost worse than the club folding, as is Dai carrying on, just to collect rent from a club reduced to the bare bones.

Don't forget that Dai has already liquidated two clubs, so he has form for this kind of thing. KSV Roeselare's stadium is still there, unused, so it's not like he seems he cares that much about getting good money for stuff.

Liquidation could also see the club sold as a package, with a new owner picking up the club, stadium and training ground, kind of like sticking a car for sale at an auction. What the status of the club would be after that process is less clear.

[WestYorksRoyal]

If we did get liquidated, at least Reading FC wouldn't be able to ruin my day any more. It's been pretty miserable for years, and the past 12 months have been exhausting. The constant anxiety of unknown bad news bombshells being around the corner.

It's mad that we're even discussing this. No disrespect to the likes of Bury and Macclesfield, but they were small clubs with <10k crowds and a history in the 3rd or 4th tier. We're a relatively recent PL club who had 15k yesterday. I think there is a bit of complacency that it simply won't happen to us, among the media and regulators too. Even Kieran Maguire said it was a 0.001% chance of ending in liquidation on the basis that we had too much going for us, and he's quite a skeptical person in these matters. But the chance is very real.

[windermereROYAL]

and the past 10 years have been exhausting.
.

Fixed it for you.