CONFRIMED: Latest rumours Confrimed as Unconfrimed

[Snowflake Royal]

There is absolutely zero chance of a Reading Phoenix club coming back bigger.

[Armadillo Roadkill]

I have "been there" as a Newport County Fan


Going out of the league and bust was horrible
and frankly I thought the re-launch was a hopeless
dream...

We were forced to play outside Wales (at Moreton-in-the Marsh)
for a fair while.

With four others, I ran the 80 miles to Moreton, raising cash
and the involvement, the great NEW rivalries was brilliant.

Since the death and rebirth we have had championships,
promotions, FA Cup giant-killing days, TWO appearances at
Wembley (consecutive years) and are now on the fringe
of the POs in League 2, despite a tiny budget.

I would much MUCH prefer Reading FC to hang in there,
to stay afloat, stay up, but, trust me, if the spirit is there
(and I am sure it would be) RFC can come back, bigger,
stronger, better.

Didn't realise it had been quite so bad for County. It makes for a great story. But, of all places, why Moreton-in Marsh?

Now, I'm not sure about coming back bigger, but better? That seems a possibility. A community owned club that maybe gets external investors until fully back on it's feet, unlikely to make the same mistakes again, and with an enhanced sense of ownership amongst fans that literally brought a phoenix club back from nothing? It make take ten years or more, and I hope it doesn't come to it, but life, and football, will go on.

[WestYorksRoyal]

There is absolutely zero chance of a Reading Phoenix club coming back bigger.

Near impossible. It would take a massive effort to get us back to pre SJM levels, then another SJM to pick up the baton in an era where everything is 10x more expensive.

[Clyde1998]

I have "been there" as a Newport County Fan


Going out of the league and bust was horrible
and frankly I thought the re-launch was a hopeless
dream...

We were forced to play outside Wales (at Moreton-in-the Marsh)
for a fair while.

With four others, I ran the 80 miles to Moreton, raising cash
and the involvement, the great NEW rivalries was brilliant.

Since the death and rebirth we have had championships,
promotions, FA Cup giant-killing days, TWO appearances at
Wembley (consecutive years) and are now on the fringe
of the POs in League 2, despite a tiny budget.

I would much MUCH prefer Reading FC to hang in there,
to stay afloat, stay up, but, trust me, if the spirit is there
(and I am sure it would be) RFC can come back, bigger,
stronger, better.

Didn't realise it had been quite so bad for County. It makes for a great story. But, of all places, why Moreton-in Marsh?

Now, I'm not sure about coming back bigger, but better? That seems a possibility. A community owned club that maybe gets external investors until fully back on it's feet, unlikely to make the same mistakes again, and with an enhanced sense of ownership amongst fans that literally brought a phoenix club back from nothing? It make take ten years or more, and I hope it doesn't come to it, but life, and football, will go on.

IIRC, that would've been around the same time as the Welsh Premier League was set up. The Welsh FA decided if non-league clubs based in Wales didn't join the Welsh pyramid, they couldn't play matches in Wales (I think Barry Town played at Worcester) - something the courts decided was illegal. I think it was a desperate attempt to get the best Welsh non-league clubs to join the Welsh league.

[tmesis]

I have "been there" as a Newport County Fan


Going out of the league and bust was horrible
and frankly I thought the re-launch was a hopeless
dream...

We were forced to play outside Wales (at Moreton-in-the Marsh)
for a fair while.

With four others, I ran the 80 miles to Moreton, raising cash
and the involvement, the great NEW rivalries was brilliant.

Since the death and rebirth we have had championships,
promotions, FA Cup giant-killing days, TWO appearances at
Wembley (consecutive years) and are now on the fringe
of the POs in League 2, despite a tiny budget.

I would much MUCH prefer Reading FC to hang in there,
to stay afloat, stay up, but, trust me, if the spirit is there
(and I am sure it would be) RFC can come back, bigger,
stronger, better.

Didn't realise it had been quite so bad for County. It makes for a great story. But, of all places, why Moreton-in Marsh?

Now, I'm not sure about coming back bigger, but better? That seems a possibility. A community owned club that maybe gets external investors until fully back on it's feet, unlikely to make the same mistakes again, and with an enhanced sense of ownership amongst fans that literally brought a phoenix club back from nothing? It make take ten years or more, and I hope it doesn't come to it, but life, and football, will go on.

It also helped that eventually, when allowed back in Wales, Newport had grounds to play in. First at Someton Park, if all too briefly, and the club could really kick on when allowed to use Rodney Parade. It would have been a struggle if the club had had to stay at Spytty Park, but even that is far better than anything Reading has as an alternative.

Reading doesn't have a 2nd venue, in any sport, that wouldn't need massive redevelopment. The 'biggest' is Rams RFC in Sonning, which has all of 300 seats. Everywhere else would require a 100% rebuild. It'd probably be more akin to Darlington's troubles than other reformed clubs.

[Sutekh]

Club legend he might be but give him a microphone and Ady becomes one of the biggest planks going - "wouldn't be happy with 16th"!

[Sutekh]

I have "been there" as a Newport County Fan


Going out of the league and bust was horrible
and frankly I thought the re-launch was a hopeless
dream...

We were forced to play outside Wales (at Moreton-in-the Marsh)
for a fair while.

With four others, I ran the 80 miles to Moreton, raising cash
and the involvement, the great NEW rivalries was brilliant.

Since the death and rebirth we have had championships,
promotions, FA Cup giant-killing days, TWO appearances at
Wembley (consecutive years) and are now on the fringe
of the POs in League 2, despite a tiny budget.

I would much MUCH prefer Reading FC to hang in there,
to stay afloat, stay up, but, trust me, if the spirit is there
(and I am sure it would be) RFC can come back, bigger,
stronger, better.

Didn't realise it had been quite so bad for County. It makes for a great story. But, of all places, why Moreton-in Marsh?

Now, I'm not sure about coming back bigger, but better? That seems a possibility. A community owned club that maybe gets external investors until fully back on it's feet, unlikely to make the same mistakes again, and with an enhanced sense of ownership amongst fans that literally brought a phoenix club back from nothing? It make take ten years or more, and I hope it doesn't come to it, but life, and football, will go on.

It also helped that eventually, when allowed back in Wales, Newport had grounds to play in. First at Someton Park, if all too briefly, and the club could really kick on when allowed to use Rodney Parade. It would have been a struggle if the club had had to stay at Spytty Park, but even that is far better than anything Reading has as an alternative.

Reading doesn't have a 2nd venue, in any sport, that wouldn't need massive redevelopment. The 'biggest' is Rams RFC in Sonning, which has all of 300 seats. Everywhere else would require a 100% rebuild. It'd probably be more akin to Darlington's troubles than other reformed clubs.

Not if Reading were re-starting. There's a ton of possibilities esp. with groundshares in the area and places that could probably grow with Reading if Reading couldn't get back to the Mad Stad.

But it ain't going to come to phoenix clubs and moving out, just believe and the club will see it through OK.

Killed any desire for a Chinese though!

[tmesis]

Not if Reading were re-starting. There's a ton of possibilities esp. with groundshares in the area and places that could probably grow with Reading if Reading couldn't get back to the Mad Stad.

Other than Maidenhead, nothing is really viable, and even that can only be viable short term. Ground shares at current league grounds would be a disaster. They'd be expensive and get poor crowds. All the local non-league grounds are, unfortunately, pretty crap. Several places in the area hold a supposed 2000, but if you've ever been to a crowd of that size at somewhere like Bracknell or Didcot, you'll know at best 1500 have any kind of even half-decent view. Yes, some could in theory be made bigger with new stands, but then you have planning permission issues and the fact that many just don't have suitable access for crowds bigger than that.

But it ain't going to come to phoenix clubs and moving out, just believe and the club will see it through OK.

At the moment I am optimistic that a buyer will step in. I'm just not totally confident that the buyer won't be more interested in the real estate assets than the football club.

[Winston Biscuit]

Reading through the last couple of pages makes me feel like I have missed some big news

[WestYorksRoyal]

https://www.readingfc.co.uk/news/2024/m ... m-funding/

Bearwood for sale. There's been lots of opinions on whether property developers could extract any value from it. I guess we'll see.

The end is nigh anyhow. The stated intent of short term funding is laughable. Even if it is viable for a property developer, it'll take months to do the due dilligence and confirm that

[tmesis]

https://www.readingfc.co.uk/news/2024/march/10/statement-short-term-funding/

Bearwood for sale. There's been lots of opinions on whether property developers could extract any value from it. I guess we'll see.

The end is nigh anyhow. The stated intent of short term funding is laughable. Even if it is viable for a property developer, it'll take months to do the due dilligence and confirm that

Wasn't Bearwood always up for sale anyway?

The strange part is the implication that's it's up for sale as we need money to finance the club until a sale goes through. It would seem a very large sale to meet what presumably be a much smaller shortfall.

[WestYorksRoyal]

The only way it could be quick is a sale and leaseback. Gives us cash and the purchaser income. A long term property developer would really have to give it a lot more thought. A couple of journos reporting that it's historical land with listed buildings, so not something a developer will buy on a whim.

But who would sign up for a simple sale and leaseback deal when the club you're leasing to may not exist in 3 months?

This is a complete non starter of an idea.

[blythspartan]

https://www.readingfc.co.uk/news/2024/march/10/statement-short-term-funding/

Bearwood for sale. There's been lots of opinions on whether property developers could extract any value from it. I guess we'll see.

The end is nigh anyhow. The stated intent of short term funding is laughable. Even if it is viable for a property developer, it'll take months to do the due dilligence and confirm that

This is one step closer to liquidation. Dai wants to sell off everything piecemeal until the club folds. It would suggest that exclusivity is nowhere near and maybe Howe has been spinning us a yarn.

[WestYorksRoyal]

They're testing the water. Presumably they're underwhelmed with offers to buy the club and are trying to spin another way of extracting value. It won't work, so what happens next? They finally accept what's on offer? But it's more delay. The takeover can't be close.

[WestYorksRoyal]

Howe's optimistic interview last Monday is a hell of a long time ago.

[NathStPaul]

No need to panic. Sure it will all work out in the end.

[Mid Sussex Royal]

They're testing the water. Presumably they're underwhelmed with offers to buy the club and are trying to spin another way of extracting value. It won't work, so what happens next? They finally accept what's on offer? But it's more delay. The takeover can't be close.

No it can't be, but didn't Howe tell STAR 3 weeks ago there were offers in the ballpark that was felt acceptable to Dai and the next stage was proof of funds etc?

I don't get the statement, how does this provide short term funding like for the rest of the season? These things take weeks to go through to completion.

[The Prisoner]

Knowing a little bit about insolvency protocol one massive no no is hiving off assets prior to any form of insolvency process beginning.

If D*I thinks he can flog Bearwood for mega money (or any money!) and then he walk away HMRC take the dimmest view known to man on people who do that. They will perceive that as having removed cash from an insolvent business that should first and foremost have been ring fenced to meet HMRC obligations.

HMRC post pandemic have taken on a whole new mr nasty persona - there are thousands of companies who owe them money but during and after Covid there was a moratorium on winding companies up. That period of grace has now finished and they are going hard after debts, directors who fraudulently got bounce back loans etc. who fobbed them off for years during Covid.

Time was HMRC would work with companies and agree to administration as a solution for a company to try and trade through problems. Now they go straight for liquidation as it’s the most transparent way of seeing what assets are there for them.

You can sell an asset for market value as long as the proceeds are used legitimately. You can’t just sell it to a mate for less than it’s worth or even sell it for market value and grab the money unless you can continue to trade solvently.

If he was to sell it for millions and then liquidate HMRC would pursue him personally for that money plus and overdrawn directors loan (if he has taken anything it).

There is a lot of protective legislation to prevent assets being raided.

[Elm Park Kid]

The club has gone out of its way to make it clear that this is a statement specifically from Dai and Pang. My understanding is that they're aware that this is a dumb idea and is highly unlikely to go anywhere.

[Stranded]

Hey maybe Madjeski was being shown around as he's about to buy it.

No? Me neither...