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

[3points]

What's the position with us not being able to pay a transfer fee for three windows? Is that gone as well?

No that will remain

Doesn’t matter that much if we are under embargo until Jan if we get some signings through quickly now tbh

Would be far from surprised if Dai chooses not to pay hmrc again next month and prioritise wages etc if needs be

Surely PAYE tax should be greatly reduced now. Therefore, July’s payment due in August shouldn’t be such a burden. Although Stranded mentioned that the likes of Moore were still being paid in July, but hopefully that wasn’t the case.

Suspect the end of June bill (for payment in July) might not have just been PAYE (which will have related to the last, and large, June payroll) but also the VAT on season ticket sales up to 30 June as well.

Therefore, August payment (for July) should be much lower as a result. Next larger one will be October when quarterly VAT likely to be needed and would cover VAT on any post-30 June season ticket sales.

[Royal Rother]

No that will remain

Doesn’t matter that much if we are under embargo until Jan if we get some signings through quickly now tbh

Would be far from surprised if Dai chooses not to pay hmrc again next month and prioritise wages etc if needs be

Surely PAYE tax should be greatly reduced now. Therefore, July’s payment due in August shouldn’t be such a burden. Although Stranded mentioned that the likes of Moore were still being paid in July, but hopefully that wasn’t the case.

Suspect the end of June bill (for payment in July) might not have just been PAYE (which will have related to the last, and large, June payroll) but also the VAT on season ticket sales up to 30 June as well.

Therefore, August payment (for July) should be much lower as a result. Next larger one will be October when quarterly VAT likely to be needed and would cover VAT on any post-30 June season ticket sales.

Yeah well, probably true, but I'd imagine that would only add about £20k to the bill.

[ham]

RCI Bank just bought 1/3 of club.

[Stranded]

Probably best fits here.

Selles confirms that we cannot pay a fee in this window or January but club lawyers working on appeal regarding next summer - Cardiff managed to bring their 3 window ban down to 2 so precident there.

Met Dai on Monday, Dai assured him it would be sorted within a couple of days and it was, he hopes we are not back in the same spot at the end of August as will impact the ability of the club to take advantage of last minute deals.

[Sutekh]

Probably best fits here.

Selles confirms that we cannot pay a fee in this window or January but club lawyers working on appeal regarding next summer - Cardiff managed to bring their 3 window ban down to 2 so precident there.

Met Dai on Monday, Dai assured him it would be sorted within a couple of days and it was, he hopes we are not back in the same spot at the end of August as will impact the ability of the club to take advantage of last minute deals.

He hopes? One would hope Dai knows as presumably the club's payroll/HR officer can advise of the current monthly wage/NI breakdown.

[Stranded]

Probably best fits here.

Selles confirms that we cannot pay a fee in this window or January but club lawyers working on appeal regarding next summer - Cardiff managed to bring their 3 window ban down to 2 so precident there.

Met Dai on Monday, Dai assured him it would be sorted within a couple of days and it was, he hopes we are not back in the same spot at the end of August as will impact the ability of the club to take advantage of last minute deals.

He hopes? One would hope Dai knows as presumably the club's payroll/HR officer can advise of the current monthly wage/NI breakdown.

Well it's out of his control isn't it? So even if he has been told it won't happen again, he can only hope it will not, as imagine people may not have expected it to happen again last week but it did.

I'm hoping it won't be expecting it to.

[SouthDownsRoyal]

Dai out

[Ascotexgunner]

Probably best fits here.

Selles confirms that we cannot pay a fee in this window or January but club lawyers working on appeal regarding next summer - Cardiff managed to bring their 3 window ban down to 2 so precident there.

Met Dai on Monday, Dai assured him it would be sorted within a couple of days and it was, he hopes we are not back in the same spot at the end of August as will impact the ability of the club to take advantage of last minute deals.

He hopes? One would hope Dai knows as presumably the club's payroll/HR officer can advise of the current monthly wage/NI breakdown.

How can they do us, we have had the deductions and punishments. Meanwhile City have 115 charges against them and nothing!!!!
If the PL did what they have done to us to a top 6 club, they would be in the Championship.

[Sutekh]

Probably best fits here.

Selles confirms that we cannot pay a fee in this window or January but club lawyers working on appeal regarding next summer - Cardiff managed to bring their 3 window ban down to 2 so precident there.

Met Dai on Monday, Dai assured him it would be sorted within a couple of days and it was, he hopes we are not back in the same spot at the end of August as will impact the ability of the club to take advantage of last minute deals.

He hopes? One would hope Dai knows as presumably the club's payroll/HR officer can advise of the current monthly wage/NI breakdown.

How can they do us, we have had the deductions and punishments. Meanwhile City have 115 charges against them and nothing!!!!
If the PL did what they have done to us to a top 6 club, they would be in the Championship.

The PL would never do that to a PL club, they'd just hand out ineffective fines on the rare occasions they might feel they need to do something (e.g. Chelsea's pointless £8m fine). If they went as far as deducting a point the club concerned would throw lawyers at them and so they'd run a mile in case their "wonderful" product became tarnished.

[Sutekh]

Chelsea were fined £8.6m yesterday for breaching FFP regulations, loose change to them, one rule for the elite and another for the rest of us....

I see their "fine" has really reined in their spending in this window. Amazing isn't it, FL clubs in breach is points deductions and transfer embargos, in the PL it's a small fine and being told "carry on".

[Snowflake Royal]

Chelsea were fined £8.6m yesterday for breaching FFP regulations, loose change to them, one rule for the elite and another for the rest of us....

I see their "fine" has really reined in their spending in this window. Amazing isn't it, FL clubs in breach is points deductions and transfer embargos, in the PL it's a small fine and being told "carry on".

Welcome to capitalism where the rich can buy preferential treatment by hiring good lawyers to threaten to pick holes in the case against.

[SCIAG]

Probably best fits here.

Selles confirms that we cannot pay a fee in this window or January but club lawyers working on appeal regarding next summer - Cardiff managed to bring their 3 window ban down to 2 so precident there.

Met Dai on Monday, Dai assured him it would be sorted within a couple of days and it was, he hopes we are not back in the same spot at the end of August as will impact the ability of the club to take advantage of last minute deals.

He hopes? One would hope Dai knows as presumably the club's payroll/HR officer can advise of the current monthly wage/NI breakdown.

How can they do us, we have had the deductions and punishments. Meanwhile City have 115 charges against them and nothing!!!!
If the PL did what they have done to us to a top 6 club, they would be in the Championship.

Obviously a bit of a difference between cut and dry cases where everyone agrees on the facts of the matter, and complex cases involving 115 charges where the club disputes it.

Also doesn’t really make sense to compare the FL and the PL - it’s like committing a crime and then saying “but it’s legal in France”.

[NathStPaul]

https://www.readingfc.co.uk/news/2023/a ... -sanction/

[morganb]

EFL statement, basically 1 point deducted now with 3 suspended if we miss wage payments again


https://www.efl.com/news/2023/august/16 ... eading-fc/

Reading Football Club has today received a one-point deduction with a further three points suspended after an Independent Disciplinary Commission determined that the Club had breached EFL Regulations.

The breaches related to the Club having failed to pay its players’ wages on time and in full on or around 31 October 2022, 30 November 2022, and 28 April 2023.

Reading’s 2023/24 League One points tally will be adjusted immediately whilst Owner Dai Yongge has also been fined £10,000 and ordered to deposit an amount equal to 125% of the Club’s forecast monthly wage bill in a designated Club account, in an attempt to avoid further breaches.

If the 125% deposit is not paid within 28 days of the Independent Disciplinary Commission’s decision or there is any further failure to pay players’ salaries up until 30 June 2024, then the suspended points sanction will be activated.

The EFL remains extremely frustrated at the consistent failures of the Club’s ownership to meet its ongoing obligations under EFL Regulations, the consequences of which are having a negative impact for all those associated with Reading, particularly its staff members, supporters, and local community.

Whilst we acknowledge the independence of the commission and the sanction imposed, this outcome does fall some way short of the League’s existing sanctioning guidelines. The EFL will now undertake a full review of the decision issued, taking into consideration the recent previous sanctions imposed on the Club and their subsequent impact.

[blythspartan]

We have got off lightly and it doesn’t sound like the EFL are too happy about it.

[Hound]

Don’t really know what they are saying in the last paragraph. They are disagreeing with the independent decision? Are they proposing they are going to appeal it?

Leaves a bit of a nasty taste that. It’s 1 point, let’s just get on with it

[Clyde1998]

I wonder if the sanction was lesser due to our previous sanctions over the past few years.

[Snowball]

I hope you all realise that this means
we will miss out on being Champions
on GD!

[windermereROYAL]

They send it to an independent panel then don`t agree with the findings, you can`t pick and choose what you want to happen. looks like they will hit us again.

[PieEater]

Good job you scraped the original article, it's now been updated and toned down considerably from the original

Reading Football Club can confirm that as a result of admitting three charges in relation to breaches of Regulation 64.7 of the EFL Regulations (relating to three instances of late payment of player wages), we have been penalised with the deduction of one point which will be applied to our 2023-24 total with immediate effect.

We have also been sanctioned with a suspended penalty of three points which will only be applied should the club fail to pay players' wages on time on any further occasion between now and 30 June 2024, or should our owner Mr Dai fail to deposit an amount equating to 125% of the club's monthly wage bill into a designated account as he has been directed by the Disciplinary Commission. Mr Dai has also been fined £10,000 for causing the club to breach the EFL Regulations.

After being charged by the EFL in June, the club responded in a timely fashion – accepting the charges in principle, whilst providing evidence of the mitigating circumstances surrounding the late payments to an independent Disciplinary Commission in response to the charges.

Our dialogue with the EFL and the Independent Disciplinary Commission has been open throughout the process and, in accepting that the repeated late payment of wages is wholly unacceptable, we believe the punishment is just. The wage bill has been satisfied in full and on time for the last three months and, as recently communicated to supporters, our owner will continue to seek and secure reliable sources of stable external investment which will ensure cashflow complications do not arise and result in any further breaches of EFL Regulations