Dodgy agents, dodgy deals, the sorry tale continues

[ayjaydee]

Just came across this article which makes for depressing reading if even parts of it are true

https://footballtyper.com/2022/02/19/it-doesnt-make-for-good-reading/

[PATRIQT]

Really good article, and very worrying as well. Nothing here that will surprise any of us though. It's a shame he didn't look into the Dia, as we aren't under the Thai's ownership any more.

[Zip]

You have to question how thoroughly the EFL looked into Yongge to see whether he really was an appropriate buyer of our football club.

[Snowflake Royal]

You have to question how thoroughly the EFL looked into Yongge to see whether he really was an appropriate buyer of our football club.

You know they can't just pick and choose right?

It's a private business.

All it does is check they have the money required (he does), and doesn’t have any dodgy financial convictions (he doesn’t).

It's not set up to whittle out incompetents and asset strippers.

[Mr Angry]

An obvious conclusion to draw from that article is that Reading FC is potentially being used as a money laundering vehicle by a number of inter-connected individuals.

I wouldn't wish those parasites on any club; the fact it is happening to our club is heartbreaking.

[ayjaydee]

An obvious conclusion to draw from that article is that Reading FC is potentially being used as a money laundering vehicle by a number of inter-connected individuals.

I wouldn't wish those parasites on any club; the fact it is happening to our club is heartbreaking.

Agreed, a little piece of me died when I read it.

[windermereROYAL]

More questions for the owners from STAR at the next meeting, don`t expect a honest answer though.

[Snowflake Royal]

We all knew most clubs are just money laundering vehicles already didn't we?

[YorkshireRoyal99]

You have to question how thoroughly the EFL looked into Yongge to see whether he really was an appropriate buyer of our football club.

You know they can't just pick and choose right?

It's a private business.

All it does is check they have the money required (he does), and doesn’t have any dodgy financial convictions (he doesn’t).

It's not set up to whittle out incompetents and asset strippers.

Maybe that is the problem though and maybe that's why so many clubs run into financial issues in every division as well.

They allowed Steve Dale to buy Bury FC for a £1, he must have had the funds, but then they go out of business and are now playing against my local side in the very bottom tier of the footballing pyramid.

[Zip]

You have to question how thoroughly the EFL looked into Yongge to see whether he really was an appropriate buyer of our football club.

You know they can't just pick and choose right?

It's a private business.

All it does is check they have the money required (he does), and doesn’t have any dodgy financial convictions (he doesn’t).

It's not set up to whittle out incompetents and asset strippers.

You’re very black and white Ian. The PL refused Yongge’s takeover bid for Hull City. I have no idea why that bid was rejected yet the EFL sanctioned his takeover of Reading

[YorkshireRoyal99]

You have to question how thoroughly the EFL looked into Yongge to see whether he really was an appropriate buyer of our football club.

You know they can't just pick and choose right?

It's a private business.

All it does is check they have the money required (he does), and doesn’t have any dodgy financial convictions (he doesn’t).

It's not set up to whittle out incompetents and asset strippers.

You’re very black and white Ian. The PL refused Yongge’s takeover bid for Hull City. I have no idea why that bid was rejected yet the EFL sanctioned his takeover of Reading

I'm glad someone else noticed as well.

[Snowflake Royal]

You have to question how thoroughly the EFL looked into Yongge to see whether he really was an appropriate buyer of our football club.

You know they can't just pick and choose right?

It's a private business.

All it does is check they have the money required (he does), and doesn’t have any dodgy financial convictions (he doesn’t).

It's not set up to whittle out incompetents and asset strippers.

Maybe that is the problem though and maybe that's why so many clubs run into financial issues in every division as well.

They allowed Steve Dale to buy Bury FC for a £1, he must have had the funds, but then they go out of business and are now playing against my local side in the very bottom tier of the footballing pyramid.

iirc - it's not just about the buying funds, but the funds to run a club, like Zingarvich only passed because Daddy guaranteed him.

The key isn't the test, its regulation and transparency of finances, transfers and player agents to make clubs unattractive to these people. And getting football finances in order so you can run a club viably on income, not needing all these dodgy deals and mega rich owners.

[YorkshireRoyal99]

You know they can't just pick and choose right?

It's a private business.

All it does is check they have the money required (he does), and doesn’t have any dodgy financial convictions (he doesn’t).

It's not set up to whittle out incompetents and asset strippers.

Maybe that is the problem though and maybe that's why so many clubs run into financial issues in every division as well.

They allowed Steve Dale to buy Bury FC for a £1, he must have had the funds, but then they go out of business and are now playing against my local side in the very bottom tier of the footballing pyramid.

iirc - it's not just about the buying funds, but the funds to run a club, like Zingarvich only passed because Daddy guaranteed him.

The key isn't the test, its regulation and transparency of finances, transfers and player agents to make clubs unattractive to these people. And getting football finances in order so you can run a club viably on income, not needing all these dodgy deals and mega rich owners.

The first part is my point though, he had the funds to buy the club but didn't have the funds to sustain the club in the football league, even after they won promotion as well. That's where that has to be picked up on.

[tmesis]

Maybe that is the problem though and maybe that's why so many clubs run into financial issues in every division as well.

They allowed Steve Dale to buy Bury FC for a £1, he must have had the funds, but then they go out of business and are now playing against my local side in the very bottom tier of the footballing pyramid.

iirc - it's not just about the buying funds, but the funds to run a club, like Zingarvich only passed because Daddy guaranteed him.

The key isn't the test, its regulation and transparency of finances, transfers and player agents to make clubs unattractive to these people. And getting football finances in order so you can run a club viably on income, not needing all these dodgy deals and mega rich owners.

The first part is my point though, he had the funds to buy the club but didn't have the funds to sustain the club in the football league, even after they won promotion as well. That's where that has to be picked up on.

As got picked up in the expose of the dodgy people behind Zingarvich's takeover, the authorities have very little power to stop a deal going through, especially when faced with the threat of legal action if they try.

[blythspartan]

A good read tbh. It would be no surprise to me if many clubs are being used for money laundering purposes. We live in a corrupt world and it’s naive to think otherwise. I don’t like it but it’s difficult to prove and there are some pretty nasty people who run these organisations. I am sure that corruption and bribery is rife which is why it’s drummed into me each year at work and I have to do an online training session. Maybe I have just been watching too much Ozark on Netflix.

[ILoveMoonPig]

That's a very interesting read. I've largely stayed ignorant of all this, but I didn't realize it was that bad. I think you can say for certain that whilst it is awful that it's happening at reading, if it's happening at a mediocre, run-of-the-mill, bang average club like us, it's happening at most other clubs.

We've already seen Everton fans frustrated at Kia-related signings, I reckon it's odds on its happening elsewhere too.

I'm kind of glad Brentford can still do their moneyball approach whilst all this double-dealing goes on, just to prove you actually can make it work.

[tmesis]

What seems bizarre is that it's blatantly obvious that if an agent is handling signings, and gets a cut from the deals, he's going to have making the most money for himself as a priority, not getting value for the buying club, nor getting the right players for the squad.

Why would any owner think it's a good way to run a club?

[The Green Programme]

This forum is becoming more like one of those conspiracy theory sites……

Business is business…

Billionaires move in circles we know nothing about.

Media outlets produce nothing more than rumours and opinions usually created by marketing and PR departments of vested interests of one kind or another.

Pauno left with a classy message but had to go; he was given a lot of time to turn it round and failed.

If you want to look at dodgy goings on and rule bending; look at City and Chelsea… they’re excellent examples on how to do it successfully!!

Our owners have made mistakes; every owner we’ve ever had has made mistakes.

And hindsight (when in judgement rather than balanced feedback) is generally tiresome.

We now have an exciting interim manager appointed and owners that have resources which, I hope will be used more wisely going forward.

They have made a decision and acted. Let’s now be thankful.

Let’s look forward and get excited about the Birmingham game.

[YorkshireRoyal99]

What seems bizarre is that it's blatantly obvious that if an agent is handling signings, and gets a cut from the deals, he's going to have making the most money for himself as a priority, not getting value for the buying club, nor getting the right players for the squad.

Why would any owner think it's a good way to run a club?

Wolves in fairness to them have done it successfully and in fairness you can argue that Brentford have it done it via a similar route, not using a specific agent or agent company, but rather using a particular network in an area to be successful, in this case Scandinavia. It's probably regarded as the way that football is going now.

I don't necessarily think that agents won't be interested in the buying club's interests either personally. It would be like a business not caring about the quality of their products when it's a major concern as the club may stop using the agent altogether. But I agree where you say their primary interests in getting a cut from the deal as that's their livelihoods.

[Jagermesiter1871]

Lets be honest the only reason we as fans care about this is because it isn't working out for us on the pitch. If we were top of the Prem with all this shadiness going on, most of us wouldn't give a oxf*rd.