HMRC Winding up petition/order

[Esteban]

Oh and if it is true, the club is 3 days late, which means we will have had to tell the EFL, so the embargo would be back on today/tomorrow.

This club really knows how to suck the joy out your day, doesn't it.

[Sutekh]

Oh and if it is true, the club is 3 days late, which means we will have had to tell the EFL, so the embargo would be back on today/tomorrow.

Likely that would mean a points deduction too - as Wigan had three missed payments before getting a suspended deduction, followed by a three point penalty once they missed a fourth.

Wigan's deductions were for late payments to players/staff not late payments to HMRC though.

[Clyde1998]

Oh and if it is true, the club is 3 days late, which means we will have had to tell the EFL, so the embargo would be back on today/tomorrow.

Likely that would mean a points deduction too - as Wigan had three missed payments before getting a suspended deduction, followed by a three point penalty once they missed a fourth.

Wigan's deductions were for late payments to players/staff not late payments to HMRC though.

Of course - getting our previous sanctions mixed up.

[Who Moved The Goalposts?]

Of course - getting our previous sanctions mixed up.

Easily done when our club is rapidly becoming known for having more sanctions than honours.

[WestYorksRoyal]

Have heard there may be some more HMRC related news on the way!

Let me guess, if true, the club are late on the next PAYE payment.

Got it in one.

But associated news is that additional investment is very, very close.

Source? And sorry for being blunt and lacking HNA? knowledge, but does this poster have a track record of ITK scoops?

[Snowflake Royal]

Let me guess, if true, the club are late on the next PAYE payment.

Got it in one.

But associated news is that additional investment is very, very close.

Source? And sorry for being blunt and lacking HNA? knowledge, but does this poster have a track record of ITK scoops?

Yeah he's fairly reliable and iirc has family connections in the biz

[Mid Sussex Royal]

Oh and if it is true, the club is 3 days late, which means we will have had to tell the EFL, so the embargo would be back on today/tomorrow.

Likely that would mean a points deduction too - as Wigan had three missed payments before getting a suspended deduction, followed by a three point penalty once they missed a fourth.

Won't be a points deduction for paying HMRC late, only the staff.

RFC pay wages on last working of the month so next Monday.

[Sutekh]

Oh and if it is true, the club is 3 days late, which means we will have had to tell the EFL, so the embargo would be back on today/tomorrow.

Likely that would mean a points deduction too - as Wigan had three missed payments before getting a suspended deduction, followed by a three point penalty once they missed a fourth.

Won't be a points deduction for paying HMRC late, only the staff.

RFC pay wages on last working of the month so next Monday.

If it happens again I really can't see it being anything out than indicative that Mr Dai just doesn't have the cash.

[Ascotexgunner]

After making some great signings, who the f*ck would want to come here and play if they aren't getting paid. Stupid f*cker still hasn't learnt has he.

[blythspartan]

I am sure Bowen would have been transparent about our financial situation with the Savage family, along with our other recent recruits.

I’d like to think as mentioned above that we are very close to securing some much needed investment. Otherwise, I can’t see anyone wanting to sign for us.

[Sutekh]

I am sure Bowen would have been transparent about our financial situation with the Savage family, along with our other recent recruits.

I’d like to think as mentioned above that we are very close to securing some much needed investment. Otherwise, I can’t see anyone wanting to sign for us.

And hopefully UK based investment!

[Lower West]

I am sure Bowen would have been transparent about our financial situation with the Savage family, along with our other recent recruits.

Bowen will be working in the dark. Football matters are his concern not those of finance. He'll simply relay on what he has been told. Professional people simply carry on with their jobs. Who knows what Dai is actually doing or thinking. Plays Poker extremely well. Except his bluff's frequently come back to haunt him at a later date. RFC s is worth more as a going concern to him. As will have debt to repay himself.

[WestYorksRoyal]

Presumably "new investment" would only be on a minority basis? Dai would still be majority owner? Or could be one of those deals where there is a clause / option to complete a buyout down the line, as we have seen at Leeds and as AZ supposedly had with SJM.

Either way, concerning to miss HMRC again. There must be cash flow issues for this to be such a regular occurrence. So if the HMRC rumour is true and the new investment one isn't, we're a bit screwed

[Sutekh]

Presumably "new investment" would only be on a minority basis? Dai would still be majority owner? Or could be one of those deals where there is a clause / option to complete a buyout down the line, as we have seen at Leeds and as AZ supposedly had with SJM.

Either way, concerning to miss HMRC again. There must be cash flow issues for this to be such a regular occurrence. So if the HMRC rumour is true and the new investment one isn't, we're a bit screwed

Yes it would be a minority as if it were majority the "new investment" would obviously have the controlling interest in the club and therefore effectively be the owners. As you suggest though there could be clauses and options in any deal for those new investors to complete a take over at some point in the future. Presumably any investment requires FL approval via the F&PP test? Anyone confirm that or does that only apply to actual owners of a club (really hoping Reading could find someone like a Berylson or Eisner coming on board as investors).

And, depending on who any new investers turn out to be of course, some credit should be given to Mr Dai if he has managed to find new investers just at the time when we all really fear for the club's future.

[Lower West]

Likely that would mean a points deduction too - as Wigan had three missed payments before getting a suspended deduction, followed by a three point penalty once they missed a fourth.

Won't be a points deduction for paying HMRC late, only the staff.

RFC pay wages on last working of the month so next Monday.

If it happens again I really can't see it being anything out than indicative that Mr Dai just doesn't have the cash.

Nor his sister. Whatever source he was using. The taps were turned off many months ago.

[Snowflake Royal]

Presumably "new investment" would only be on a minority basis? Dai would still be majority owner? Or could be one of those deals where there is a clause / option to complete a buyout down the line, as we have seen at Leeds and as AZ supposedly had with SJM.

Either way, concerning to miss HMRC again. There must be cash flow issues for this to be such a regular occurrence. So if the HMRC rumour is true and the new investment one isn't, we're a bit screwed

Yes it would be a minority as if it were majority the "new investment" would obviously have the controlling interest in the club and therefore effectively be the owners. As you suggest though there could be clauses and options in any deal for those new investors to complete a take over at some point in the future. Presumably any investment requires FL approval via the Owners and Directors Test? Anyone confirm that or does that only apply to actual owners of a club (really hoping Reading could find someone like a Berylson or Eisner coming on board as investors).

And, depending on who any new investers turn out to be of course, some credit should be given to Mr Dai if he has managed to find new investers just at the time when we all really fear for the club's future.

[From Despair To Where?]

Has anyone heard from Royal_Jimmy?



#prayforjimmy

[SouthDownsRoyal]

I am sure Bowen would have been transparent about our financial situation with the Savage family, along with our other recent recruits.

I’d like to think as mentioned above that we are very close to securing some much needed investment. Otherwise, I can’t see anyone wanting to sign for us.

And hopefully UK based investment!

Hey karbota!