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

[South Coast Royal]

Just another £200,000 for the club to find.
It needs a lot more than my season ticket renewal to cover this latest tale of woe.

By the way, a bot OTT about "many years developing the player" when his early years were away at Chelsea and City.

[The Royal Forester]

https://www.readingfc.co.uk/news/2024/may/15/Club-Statement-FA-Regulations/

Agent entered into an agreement that would see him eligible for a 10 percent cut of Olise’s future transfer fee, which is prohibited by the FA’s rules. Only clubs and players, not agents, can benefit from such an agreement. No payment was ever made. He starts a suspension in October so can still benefit from the summer transfer window. Expect Olise to move on from Palace this summer then!


Unsure if Howes' suspension will affect the sale as the first 6 months only seem to relate to payer sales.

Will this saga ever end???

The club statement clearly says Howe's suspension for the first six months is contract and transfer negotiations only the following six months is all football related issues. So, let us hope the sale goes through in the next six months, then. Can't see Nigel staying around the club, or football, after the sale is agreed or should that be IF the sale is agreed, and the club is still here in twelve months time.

[Greatwesternline]

WTF did we agree to something that wasn't allowed. Clowns the lot of them.

[tidus_mi2]

WTF did we agree to something that wasn't allowed. Clowns the lot of them.

If it makes you feel any better, the same redacted documents revealed that we do in fact have a 10% sell-on for transfer profit in regards to Olise.

[SCIAG]

This probably merits a thread of its own?

By the way, a bot OTT about "many years developing the player" when his early years were away at Chelsea and City.

He was only with City for a year. With us for four.

[WestYorksRoyal]

WTF did we agree to something that wasn't allowed. Clowns the lot of them.

If it makes you feel any better, the same redacted documents revealed that we do in fact have a 10% sell-on for transfer profit in regards to Olise.

Who knows what Dai is supposedly selling the club for, but the knowledge that a £5m - £6m windfall may be coming this summer could complicate things. A clause added that the new owner needs to pass some of it on to him?

[rabidbee]

Then he should stump up the £200k now.

[Stockport Royal]

WTF did we agree to something that wasn't allowed. Clowns the lot of them.

If it makes you feel any better, the same redacted documents revealed that we do in fact have a 10% sell-on for transfer profit in regards to Olise.

60mil Olise to United
6mil for us - 200k = 5.8m profit

Happy days right, right?

[SCIAG]

WTF did we agree to something that wasn't allowed. Clowns the lot of them.

If it makes you feel any better, the same redacted documents revealed that we do in fact have a 10% sell-on for transfer profit in regards to Olise.

60mil Olise to United
6mil for us - 200k = 5.8m profit

Happy days right, right?

The sell-on is on profit, not the raw value.

£60m-£7m=£53m profit for Palace. 10% then comes to us.

So we'd get £5,3m, which becomes £5.1m if you take out the fine.

[SCIAG]

WTF did we agree to something that wasn't allowed. Clowns the lot of them.

If it makes you feel any better, the same redacted documents revealed that we do in fact have a 10% sell-on for transfer profit in regards to Olise.

Who knows what Dai is supposedly selling the club for, but the knowledge that a £5m - £6m windfall may be coming this summer could complicate things. A clause added that the new owner needs to pass some of it on to him?

That doesn't "complicate" things, because Dai would already have been aware of the sell-on fee, and it's far from guaranteed Olise will actually be sold.

[Greatwesternline]

WTF did we agree to something that wasn't allowed. Clowns the lot of them.

If it makes you feel any better, the same redacted documents revealed that we do in fact have a 10% sell-on for transfer profit in regards to Olise.

Havent we heard form official sources, i.e. Howe or some other, such as Selles, that there categorically is no sell on clause?

One in the eye for the ITKs who claim there was none.

[Wycombe Royal]

It also won't affect the sale of the club as this would have already been disclosed in the due diligence, even if the penalty wasn't known.

[South Coast Royal]

This probably merits a thread of its own?

By the way, a bot OTT about "many years developing the player" when his early years were away at Chelsea and City.

He was only with City for a year. With us for four.

On checking, I see he was at Arsenal for a year as well before 7 years with Chelsea.
So he only needs Liverpool to complete a kind of top 4 set.

Unfortunately I fear that he might go to Man Utd.but , if he chooses France as his definite international side, then I think PSG might be the destination .

[WestYorksRoyal]

So almost certainly not going to ruin the sale of the club, and confirmation that we have a sell on clause. Is this actually good news?

[Clyde1998]

Nigel Howe has been fined £5,000 and issued an immediate six-month suspension from involvement with player contract negotiations and transfer related activity, and a further six-month suspension from all football related activity to commence upon the expiry of the first suspension.

I wonder the suspensions are that way around specifically to allow him to conclude the sale of the club.

[Snowflake Royal]

Just another £200,000 for the club to find.
It needs a lot more than my season ticket renewal to cover this latest tale of woe.

By the way, a bot OTT about "many years developing the player" when his early years were away at Chelsea and City.

He was with us for about three/four seasons.

Three is a few, four is many.

[Snowflake Royal]

Nigel Howe has been fined £5,000 and issued an immediate six-month suspension from involvement with player contract negotiations and transfer related activity, and a further six-month suspension from all football related activity to commence upon the expiry of the first suspension.

I wonder the suspensions are that way around specifically to allow him to conclude the sale of the club.

Yes, that way round isn't otherwise logical.

[Linden Jones' Tash]

I don't profess to know about how these things work, but given the timing, I wondered if this was publicised today in order to ensure transparency regarding potential on-going liabilities - at least now any prospective buyer has the full facts to assess any impact before moving forwards.

Interesting to read it is in relation to the Olise contract signed in 2019 and the pressure that was brought to bear

[WestYorksRoyal]

Nigel Howe has been fined £5,000 and issued an immediate six-month suspension from involvement with player contract negotiations and transfer related activity, and a further six-month suspension from all football related activity to commence upon the expiry of the first suspension.

I wonder the suspensions are that way around specifically to allow him to conclude the sale of the club.

Yes, that way round isn't otherwise logical.

The judgment contains an extract that the buyers wanted him as interim CEO. Can he do that with the ban on transfer related activities? Presumably if Bowen is on point for negotiations but is feeding back to Howe for approval, it's not in breach?

[Sutekh]

The FA really don't help themselves do they? 5 years for this to be sorted plus, it seems, precedents have been much less harsh. Question has to be asked though, how did they go down this route in the first place, they must have known it's illegal. Would the agent concerned also face some form of punishment?