CONFIMRED - The final countdown

[tidus_mi2]

We (Carey?) seemed to have negotiated some pretty good deals considering. But your overall point is certainly true

I don’t think most fans want us to splurge out in answer to the first post tbh. We’ve seen how that ends up. Just relatively sensibly run and a chance to progress as a club again is what most want I expect.

Unfortunately, in our current position, some "splurging" is going to be needed simply to field a team!

If ever sold and the accounts published, the first question will be whether the FL keeps the club embargoed for all the previous shenanigans with non payments and breaching ffp and budget plans.

Hopefully the EFL will allow us a clean slate all things considered.

[Clyde1998]

takeover update

- Hopeful of concluding deal by April
- EFL aware of Platek's 'conflict of interest' as co-head of firm that has lent money to EFL clubs
- This is not expected to impact Platek's potential purchase of Reading

https://x.com/AndyPreston96/status/1895 ... OQY1A&s=19

https://rdg.today/reading-fc-takeover-q ... nears-end/

So that implies some time in March. At least they're not expecting this to drag out, but won't be counting any chickens until we get official confirmation.

[Hound]

takeover update

- Hopeful of concluding deal by April
- EFL aware of Platek's 'conflict of interest' as co-head of firm that has lent money to EFL clubs
- This is not expected to impact Platek's potential purchase of Reading

https://x.com/AndyPreston96/status/1895 ... OQY1A&s=19

https://rdg.today/reading-fc-takeover-q ... nears-end/

Not sure where he has got this info from but sounds positive

[East Grinstead Royal]

Unfortunately, in our current position, some "splurging" is going to be needed simply to field a team!

If ever sold and the accounts published, the first question will be whether the FL keeps the club embargoed for all the previous shenanigans with non payments and breaching ffp and budget plans.

Hopefully the EFL will allow us a clean slate all things considered.

Yeah, hopefully. Somehow I suspect we will continue to be held accountable for the sins of the previous regime.

[Brum Royal]

We (Carey?) seemed to have negotiated some pretty good deals considering. But your overall point is certainly true

I don’t think most fans want us to splurge out in answer to the first post tbh. We’ve seen how that ends up. Just relatively sensibly run and a chance to progress as a club again is what most want I expect.

Unfortunately, in our current position, some "splurging" is going to be needed simply to field a team!

If ever sold and the accounts published, the first question will be whether the FL keeps the club embargoed for all the previous shenanigans with non payments and breaching ffp and budget plans.

If the accounts ever do get published it'll be interesting/terrifying to see just how big a hole the club are/were in through all this mess

[Snowflake Royal]

We (Carey?) seemed to have negotiated some pretty good deals considering. But your overall point is certainly true

I don’t think most fans want us to splurge out in answer to the first post tbh. We’ve seen how that ends up. Just relatively sensibly run and a chance to progress as a club again is what most want I expect.

Unfortunately, in our current position, some "splurging" is going to be needed simply to field a team!

If ever sold and the accounts published, the first question will be whether the FL keeps the club embargoed for all the previous shenanigans with non payments and breaching ffp and budget plans.

They will.

[bcubed]

Unfortunately, in our current position, some "splurging" is going to be needed simply to field a team!

If ever sold and the accounts published, the first question will be whether the FL keeps the club embargoed for all the previous shenanigans with non payments and breaching ffp and budget plans.

Hopefully the EFL will allow us a clean slate all things considered.

That would be nice
But frankly if we are sold and don't go out of existence anything else will seem like a small problem

[RG30]

M&A Murmurs
The long-running Reading takeover saga looks like it could rumble on for some time yet, despite the club expressing hopes of a “quick completion” after opening exclusive negotiations this week with Robert Platek, an American private equity investor.

The League One club has been on the market since October 2023, since when owner Dai Yongge has entered exclusivity periods with seven different buyers, so speed has not been of the essence so far.

Platek has the money to buy Reading after selling his controlling interest in Serie B club Spezia earlier this month, so proof of funds should not be an issue but there are other potential complications.

The Guardian reported yesterday that several EFL clubs have raised concerns over a potential conflict of interests due to Platek's position as Head of Global Credit at BDT & MSD Partners, the investment vehicle of technology billionaire Michael Dell. MSD have loaned tens of millions of pounds to EFL clubs including Burnley, West Brom, Derby, Sunderland and Premier League strugglers Southampton.

The terms of those loans give MSD security over club stadia in the event of a missed repayment, leading to concerns over a possible conflict of interest should Platek acquire control of Reading.

The EFL's position is that if Platek can meet their ownership requirements as an individual, then there is no conflict as far as their regulations are concerned, although they acknowledge the concerns of other clubs. The 60-year-old stated when buying Spezia, Danish club Sønderjyske and Casa Pia in Portugal that they were personal investments with no link to MSD, and he will have to demonstrate a clear separation of funding to the EFL.

Previous attempts to sell Reading have collapsed after prospective buyers attempted to renegotiate the price, as well as issues relating to a loan taken out by Yongge secured against the Select Car Leasing Stadium. The Platek offer however, is for Yongge's stake, the stadium and training ground, and his plan to return all the club's assets to one company is likely to prove popular with the fans.

[Forbury Lion]

Unfortunately, in our current position, some "splurging" is going to be needed simply to field a team!

If ever sold and the accounts published, the first question will be whether the FL keeps the club embargoed for all the previous shenanigans with non payments and breaching ffp and budget plans.

Hopefully the EFL will allow us a clean slate all things considered.

I suspect they will be open to discussions, However the sanctions were against the club not the owner. If there is a clear business plan for the club and they publish their accounts, can demonstrate they can/have/will pay the wages, tax man, football creditors and others then that would allow the EFL to claim a victory of sorts and say the sanctions worked, there's now no need for them so they are suspended.
They have to consider the precedent it sets though.

[WestYorksRoyal]

If ever sold and the accounts published, the first question will be whether the FL keeps the club embargoed for all the previous shenanigans with non payments and breaching ffp and budget plans.

Hopefully the EFL will allow us a clean slate all things considered.

I suspect they will be open to discussions, However the sanctions were against the club not the owner. If there is a clear business plan for the club and they publish their accounts, can demonstrate they can/have/will pay the wages, tax man, football creditors and others then that would allow the EFL to claim a victory of sorts and say the sanctions worked, there's now no need for them so they are suspended.
They have to consider the precedent it sets though.

The only outstanding sanction against the club relate to overdue accounts. Once they're submitted, there's not left.

FFP breaches and missed payments have all already been punished so will not affect the new owner.

[Crusader Royal]

Hopefully the EFL will allow us a clean slate all things considered.

I suspect they will be open to discussions, However the sanctions were against the club not the owner. If there is a clear business plan for the club and they publish their accounts, can demonstrate they can/have/will pay the wages, tax man, football creditors and others then that would allow the EFL to claim a victory of sorts and say the sanctions worked, there's now no need for them so they are suspended.
They have to consider the precedent it sets though.

The only outstanding sanction against the club relate to overdue accounts. Once they're submitted, there's not left.

FFP breaches and missed payments have all already been punished so will not affect the new owner.

Aren’t there some suspended punishments ?

[East Grinstead Royal]

Well, there’s one related to pitch invasions and the transfer embargo covers the next transfer window, IIRC. Who knows what might yet be imposed for late submission of accounts?

[stealthpapes]

Unfortunately, in our current position, some "splurging" is going to be needed simply to field a team!

If ever sold and the accounts published, the first question will be whether the FL keeps the club embargoed for all the previous shenanigans with non payments and breaching ffp and budget plans.

If the accounts ever do get published it'll be interesting/terrifying to see just how big a hole the club are/were in through all this mess

The missing accounts surely boils down to them likely revealing something properly ghoulish, right?

[rabidbee]

But presumably buyers have access to this information, so it's not something that is causing them to run for the hills.

[Hound]

Well, there’s one related to pitch invasions and the transfer embargo covers the next transfer window, IIRC. Who knows what might yet be imposed for late submission of accounts?

Does the embargo cover next window or are we free to trade normally come June ‘25?

Not especially bothered either way tbh if this takeover happens

[WestYorksRoyal]

If ever sold and the accounts published, the first question will be whether the FL keeps the club embargoed for all the previous shenanigans with non payments and breaching ffp and budget plans.

If the accounts ever do get published it'll be interesting/terrifying to see just how big a hole the club are/were in through all this mess

The missing accounts surely boils down to them likely revealing something properly ghoulish, right?

I presume no auditor will sign us off as a going concern currently, which will be the main issue. Get a committed owner in and that's then fine.

[Sutekh]

Well, there’s one related to pitch invasions and the transfer embargo covers the next transfer window, IIRC. Who knows what might yet be imposed for late submission of accounts?

Does the embargo cover next window or are we free to trade normally come June ‘25?

Not especially bothered either way tbh if this takeover happens

The current “advertised on the FL website” embargo lasts up until the club publishes its accounts. No clue why they haven’t published them already as the due diligence and negotiations any prospective buyer would go through when buying the club would reveal all anyway (can only presume the club would feel it would put off buyers from making initial enquiries).

Before this embargo appeared the club was already embargoed until god knows when as punishment for having a rubbish owner who flouted everything that ffp represented.

[Clyde1998]

https://www.mcoinsights.com/insights/re ... -a-new-mco

Interesting read.

[Snowflake Royal]

Hopefully the EFL will allow us a clean slate all things considered.

I suspect they will be open to discussions, However the sanctions were against the club not the owner. If there is a clear business plan for the club and they publish their accounts, can demonstrate they can/have/will pay the wages, tax man, football creditors and others then that would allow the EFL to claim a victory of sorts and say the sanctions worked, there's now no need for them so they are suspended.
They have to consider the precedent it sets though.

The only outstanding sanction against the club relate to overdue accounts. Once they're submitted, there's not left.

FFP breaches and missed payments have all already been punished so will not affect the new owner.

The late tax payments sanction of no fees l)for anything lasts until end of summer 25 doesn't it?

[Hound]

I suspect they will be open to discussions, However the sanctions were against the club not the owner. If there is a clear business plan for the club and they publish their accounts, can demonstrate they can/have/will pay the wages, tax man, football creditors and others then that would allow the EFL to claim a victory of sorts and say the sanctions worked, there's now no need for them so they are suspended.
They have to consider the precedent it sets though.

The only outstanding sanction against the club relate to overdue accounts. Once they're submitted, there's not left.

FFP breaches and missed payments have all already been punished so will not affect the new owner.

The late tax payments sanction of no fees l)for anything lasts until end of summer 25 doesn't it?

Yeah that was my question - can’t remember if it’s June or end of window it lasts to

Our old chum Huang Kad is saying done next week, or very early the next week

Obvs pinch of salt and all that