Handsome Man Red All this talk of asset stripping the club - we are talking about the same Elm Park right?
OK the land had a nominal value but I wouldn't have thought we're talking millions here. That can't have been the aim.
It was worth millions - look at all the houses that were built on it. Even in the early 1980s, Reading houses were expensive.
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You also have to remember this was an era when even Man Utd were only banking about £4 million a year. Selling off Elm Park for a figure like that would be phenominal compared to what the club is worth.
It's a big reason why property speculators hovered round football clubs like vultures in the 80s - the returns for selling off a stadium would be massive compared to the outlay of buying the club.
So yes, I believe Elm Park would have been sold off, the money probably going mainly to Maxwell's back pocket, and the move to Didcot dropped as "unfeasible" after a couple of years.
Would the club have reformed AFC Wimbledon style? Probably not. The clubs that have done well on that front have all had a ready-made ground to move into - usually their original ground. Clubs that have had to start from scratch haven't fared quite as well. It's much harder to convince the public you are a serious replacement for the old club if you are playing in a fenced-off field with a couple of bus shelters as the only covered accommodation.