CONFRIMED: Latest rumours Confrimed as Unconfrimed

[Royal_jimmy]

Dai just needs to sell the club and fcuk off. Need to get Bearwood as an asset of community value so Dai can't do much with that land at all.

[Dirk Gently]

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.

No arguments with any of that - but perhaps Dai thinks he's outside the jurisdiction of HMRC?

[Greatwesternline]

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.

This is all true in a scenario where a company owes HMRC money but as it stands at the moment we don't.

A charitable way of looking at this statement is they are looking for a sale and leaseback to realise some working capital to keep the club alive until the takeover.

A less charitable one is he is trying to get a bit of negotiating power with potential buyers if a good offer does come in for Bearwood.

The least charitable view is he is asset stripping for his own funds.

[rabidbee]

A couple of journos reporting that it's historical land with listed buildings, so not something a developer will buy on a whim.

Not only are the buildings listed but the grounds are in a scheduled park, which is within the confines of an ancient deer park of the royal forest. I’d be surprised if there’s any potential for housing.

https://historicengland.org.uk/listing/ ... ry/1000414

[PieEater]

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.

He probably thinks they can't touch him in China.

[Pepe the Horseman]

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

No? Me neither...

I mean he's got nothing else to spend his money on.

[WestYorksRoyal]

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.

He probably thinks they can't touch him in China.

He likes his Mayfair lifestyle, could kiss that goodbye.

[windermereROYAL]

Dai just needs to sell the club and fcuk off. Need to get Bearwood as an asset of community value so Dai can't do much with that land at all.

Can`t do that if it`s not open for public use.

[Snowflake Royal]

The signs of doom keep on stacking up.

[Stranded]

The signs of doom keep on stacking up.

Yep, come to terms that the club is done unless I'm pleasantly surprised by something coming from left wing.

Just feels like the twat is "winning".

Coming to peace with the fact and looks like I may just take my boy to Eintracht games.

[Sutekh]

The signs of doom keep on stacking up.

Yep, come to terms that the club is done unless I'm pleasantly surprised by something coming from left wing.

Just feels like the twat is "winning".

Coming to peace with the fact and looks like I may just take my boy to Eintracht games.

Given Azeez's current form, glad nothing's being expected from the right wing.

[under the tin]

The signs of doom keep on stacking up.

Yep, come to terms that the club is done unless I'm pleasantly surprised by something coming from left wing.

Just feels like the twat is "winning".

Coming to peace with the fact and looks like I may just take my boy to Eintracht games.

Given Azeez's current form, glad nothing's being expected from the "far right" wing.

Topically edited for you, Sutes.

What the news about Bearwood screams at me is that there's definitely no money whatsoever coming out of China anymore, and whether that's directly down to Dai or the authorities is irrelevant.
Looks like It's going to end up with buckets being rattled outside football grounds asking for donations towards a paddle before season's end as we're now some way along sh1t creek.

[under the tin]

The signs of doom keep on stacking up.

Yep, come to terms that the club is done unless I'm pleasantly surprised by something coming from left wing.

Just feels like the twat is "winning".

Coming to peace with the fact and looks like I may just take my boy to Eintracht games.

Given Azeez's current form, glad nothing's being expected from the "far right" wing.

Topically edited for you, Sutes.

What the news about Bearwood screams at me is that there's definitely no money whatsoever coming out of China anymore, and whether that's directly down to Dai or the authorities is irrelevant.
Looks like It's going to end up with buckets being rattled outside football grounds asking for donations towards a paddle before season's end as we're now some way along sh1t creek.

[WestYorksRoyal]

Yeh, whether by choice or circumstance (I suspect the former) we're not getting a penny more from Dai.

The only hope is that SCL, other local businesses and wealthy fans can cobble together enough to see us through until the end of the season and in that time we find a buyer. As SBWD have said this morning, collection buckets and just giving pages will barely touch the sides.

This is where the industry needs to change. There is easily enough money in the game to save us. There should be an insolvency fund. Place us into administration, deduct 12 points to relegate us but crucially find a buyer. Proceeds of the sale pay off administrator, then reimburse the fund and Dai gets the leftovers.

[blythspartan]

I was chatting to a few mates/cousins yesterday and the general consensus was we’re as good as finished.

As mentioned above, there is enough money in football to help clubs in our situation, but it’s never going to happen as the greedy oxf*rd in the Premiership don’t like sharing. I’d like to think that when we become the first ex premier league team to go bust it will open up a few eyes, but in reality only Reading fans will really care. There might be a few mutterings on Sky for a while and then it’ll be forgotten.

[windermereROYAL]

All the players will become free agents, most of them won`t have too many problems finding new clubs, and quite frankly they will be happy to be released from this shit show.
Just wonder what will happen to the stadium, it will still be there for quite a while and a reminder of what used to be.

[WestYorksRoyal]

All the players will become free agents, most of them won`t have too many problems finding new clubs, and quite frankly they will be happy to be released from this shit show.

Will they all? Who would take Dean and Button? Or players like Abrefa and John Clarke who threatened to impact the 1st team but have had brutal injuries?

And that's before you look at all the U18s, U16s etc., where will they go? The nearest academies are in London and hard to get into (as in competitively, not geographically)

Footballing careers will be lost because of this, even if the likes of Wing, Smith etc., will be fine.

[Orion1871]

All the players will become free agents, most of them won`t have too many problems finding new clubs, and quite frankly they will be happy to be released from this shit show.
Just wonder what will happen to the stadium, it will still be there for quite a while and a reminder of what used to be.

The Thais will probably buy the land and use it to expand their development.

[WestYorksRoyal]

All the players will become free agents, most of them won`t have too many problems finding new clubs, and quite frankly they will be happy to be released from this shit show.
Just wonder what will happen to the stadium, it will still be there for quite a while and a reminder of what used to be.

The Thais will probably buy the land and use it to expand their development.

Haha, good luck. Stadium is protected, and any development will need the help of the council who will presumably be extremely hostile towards anyone looking to profit from the demise of Reading FC.

[RoyalBlue]

All the players will become free agents, most of them won`t have too many problems finding new clubs, and quite frankly they will be happy to be released from this shit show.
Just wonder what will happen to the stadium, it will still be there for quite a while and a reminder of what used to be.

The Thais will probably buy the land and use it to expand their development.

Talking of the Thais, they need to ask for their money back from this guy!

https://www.getreading.co.uk/sport/football/football-news/reading-fcs-thai-owners-follow-11294150