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

[blythspartan]

Yep. Wages simply have to paid tomorrow else there will be a queue of players demanding to go by close of business on Thursday ( probably is anyway).

Which could well be exactly what Dai wants. Get as much money in his pockets from player sales as he can and sell the shell of a club that's left.

I think at this stage all he cares about is whether he can get more for the club as a whole than he could by selling the stadium and training ground. The player sales are just a bonus to pay the bills while the potential sale is happening.

I say there's a very good chance that if none of this current group of potential buyers meets his valuation, that's it. Game over.

During Howe’s interview on BBCRB last week he said that a decision was due to be made within the next 2 weeks about a preferred/best bid. I am not sure if the interview was live or prerecorded, but surely we should be hearing something about the takeover soon. If there is no news by March, I really do fear the worst.

[Stranded]

Which could well be exactly what Dai wants. Get as much money in his pockets from player sales as he can and sell the shell of a club that's left.

I think at this stage all he cares about is whether he can get more for the club as a whole than he could by selling the stadium and training ground. The player sales are just a bonus to pay the bills while the potential sale is happening.

I say there's a very good chance that if none of this current group of potential buyers meets his valuation, that's it. Game over.

During Howe’s interview on BBCRB last week he said that a decision was due to be made within the next 2 weeks about a preferred/best bid. I am not sure if the interview was live or prerecorded, but surely we should be hearing something about the takeover soon. If there is no news by March, I really do fear the worst.

Howe is meeting with STAR tomorrow, so I would hope we would hear some form of update from them off the back of that. I know they won't produce minutes but will flag key themes, so if bids have been whittled down to 2 or 3 viable ones for Dai to throw in the bin, I'm sure we'll hear.

[Brogue]

Staff paid in full this morning

[WestYorksRoyal]

Staff paid in full this morning

That was quick.

[Stranded]

Staff paid in full this morning

Cheers Courtney.

[SouthDownsRoyal]

Staff paid in full this morning

Did you fund this?

[NathStPaul]

Staff paid in full this morning

Well done mate, good of you.

[Sutekh]

Staff paid in full this morning

What? Your staff?

[Ascotexgunner]

Which could well be exactly what Dai wants. Get as much money in his pockets from player sales as he can and sell the shell of a club that's left.

I think at this stage all he cares about is whether he can get more for the club as a whole than he could by selling the stadium and training ground. The player sales are just a bonus to pay the bills while the potential sale is happening.

I say there's a very good chance that if none of this current group of potential buyers meets his valuation, that's it. Game over.

During Howe’s interview on BBCRB last week he said that a decision was due to be made within the next 2 weeks about a preferred/best bid. I am not sure if the interview was live or prerecorded, but surely we should be hearing something about the takeover soon. If there is no news by March, I really do fear the worst.

Load of b*LL*cks......Preferred bidder my arse. There are no bidders or interested parties. How often have I heard "we are close". It's all sh*t. Dai is stripping every last breath out of us......we are finished....that's it......kaput. All out debt is owed to that c*nt with his jiggery pokery accounting. I have have no idea how we owe 250 mill even.....when did we sign Kane and Ronaldo?

[Snowflake Royal]

I think at this stage all he cares about is whether he can get more for the club as a whole than he could by selling the stadium and training ground. The player sales are just a bonus to pay the bills while the potential sale is happening.

I say there's a very good chance that if none of this current group of potential buyers meets his valuation, that's it. Game over.

During Howe’s interview on BBCRB last week he said that a decision was due to be made within the next 2 weeks about a preferred/best bid. I am not sure if the interview was live or prerecorded, but surely we should be hearing something about the takeover soon. If there is no news by March, I really do fear the worst.

Load of b*LL*cks......Preferred bidder my arse. There are no bidders or interested parties. How often have I heard "we are close". It's all sh*t. Dai is stripping every last breath out of us......we are finished....that's it......kaput. All out debt is owed to that c*nt with his jiggery pokery accounting. I have have no idea how we owe 250 mill even.....when did we sign Kane and Ronaldo?

Take a breath and engage your brain occasionally.

[Brogue]

During Howe’s interview on BBCRB last week he said that a decision was due to be made within the next 2 weeks about a preferred/best bid. I am not sure if the interview was live or prerecorded, but surely we should be hearing something about the takeover soon. If there is no news by March, I really do fear the worst.

Load of b*LL*cks......Preferred bidder my arse. There are no bidders or interested parties. How often have I heard "we are close". It's all sh*t. Dai is stripping every last breath out of us......we are finished....that's it......kaput. All out debt is owed to that c*nt with his jiggery pokery accounting. I have have no idea how we owe 250 mill even.....when did we sign Kane and Ronaldo?

Take a breath and engage your brain occasionally.

Lolz +1

[skipper]

What is the current figure of our debt, and how did we arrive at it?

[Winston Biscuit]

During Howe’s interview on BBCRB last week he said that a decision was due to be made within the next 2 weeks about a preferred/best bid. I am not sure if the interview was live or prerecorded, but surely we should be hearing something about the takeover soon. If there is no news by March, I really do fear the worst.

I may be misremembering but I thought it was more that he was pushed a little on timescales and said something like 'I would hope in around 2 weeks or so' rather than it being an actual fixed time period for a decision to be made in

[Stranded]

What is the current figure of our debt, and how did we arrive at it?

May well be reading it wrong but in the last accounts (up to JUne 22) - net liabilities were GBP 62.858m. The club had just over GBP 1m in the bank.

[Snowflake Royal]

What is the current figure of our debt, and how did we arrive at it?

May well be reading it wrong but in the last accounts (up to JUne 22) - net liabilities were GBP 62.858m. The club had just over GBP 1m in the bank.

Around the time those accounts came out Kieran Maguire tweeted our total losses (not the same thing as debt, but the only other thing I can find) was £191m. Over what period, not sure.

[Stranded]

What is the current figure of our debt, and how did we arrive at it?

May well be reading it wrong but in the last accounts (up to JUne 22) - net liabilities were GBP 62.858m. The club had just over GBP 1m in the bank.

Around the time those accounts came out Kieran Maguire tweeted our total losses (not the same thing as debt, but the only other thing I can find) was £191m. Over what period, not sure.

191m are the gross losses up to 30th June last year - correct.

The 62.8m is the net so the 191.5m total losses less 117m in Share Capital and 11.5m in Share Premium Account - not going to pretend I know what that last term means.

[Snowflake Royal]

So Dai is making a minimum loss on sale (should that actually happen) of about £160m, but probably closer to £175m.

What a great business man.

[Stranded]

So Dai is making a minimum loss on sale (should that actually happen) of about £160m, but probably closer to £175m.

What a great business man.

Well those figures are nearly 18months old, so could be higher than that but that is probably the bare minimum he'll have to write off, if he does choose to sell the club.

Interesting* that the weekly meeting that was meant to happen between STAR and Howe yesterday regarding updates on the sale process has been postponed to "early next week".

You can look at that one of 2 ways - there is absolutely nothing to update and he is trying to push it out in the hope something changes or there is an expectation that a bid will be accepted shortly and the delay is to allow him to make that clear. Probably the former.

[tmesis]

So Dai is making a minimum loss on sale (should that actually happen) of about £160m, but probably closer to £175m.

What a great business man.

Still a better investment than his Evergrande shares

[skipper]

How does a relatovely average club like Reading end up with debts so high?

Like... even duong the terrible period of sig inf average players for 7 mil, and paying silly wages, durely that couldn't add up to nearly 200 million??