#SellBeforeWeDai Action/Inaction Group

[Hound]

It's against UK company law for an owner to take money out of an insolvent company.

As others have said Dai owns Bearwood separately and so not an asset of the club and so it would not be illegal. As I also said above without Bearwood and the Academy the club is likely unsaleable. Only a truly insane lunatic would buy a big stadium with a massively loss making club, no training ground and no way of making money through future Academy sales.

My guess is that if the sale goes through Dai will put just enough in the club to see out the season to take the heat off him and will then pocket the rest. Then it will be up to Howe to find an insane lunatic to buy what little is left of the club or we don’t start next season. I cannot see any hope of survival unless the EFL threaten Wycombe with sanctions for putting the game into disrepute if they proceed with the purchase - which I expect is also unlikely.

People need to stop rushing to judgments about the club being unsaleable. People don't go into football to make money. This news greatly reduces the asking price of the club, and no doubt there will be plenty of parties who fancy themselves as the ones to help stabilise us and rebuild. Hopefully we get one who is actually capable.

Our biggest challenge has never been finding a buyer. It has always been convincing the seller to sell.

Yep. To some degree having less to sell and at a lower price could work in our favour. As discussed Bearwood is potentially an issue for the club due to ongoing costs, as is the academy

Problem is Dai is a tosser and nobody knows what his end goal actually is

[andrew1957]

It's against UK company law for an owner to take money out of an insolvent company.

As others have said Dai owns Bearwood separately and so not an asset of the club and so it would not be illegal. As I also said above without Bearwood and the Academy the club is likely unsaleable. Only a truly insane lunatic would buy a big stadium with a massively loss making club, no training ground and no way of making money through future Academy sales.

My guess is that if the sale goes through Dai will put just enough in the club to see out the season to take the heat off him and will then pocket the rest. Then it will be up to Howe to find an insane lunatic to buy what little is left of the club or we don’t start next season. I cannot see any hope of survival unless the EFL threaten Wycombe with sanctions for putting the game into disrepute if they proceed with the purchase - which I expect is also unlikely.

People need to stop rushing to judgments about the club being unsaleable. People don't go into football to make money. This news greatly reduces the asking price of the club, and no doubt there will be plenty of parties who fancy themselves as the ones to help stabilise us and rebuild. Hopefully we get one who is actually capable.

Our biggest challenge has never been finding a buyer. It has always been convincing the seller to sell.

I admire your optimism but even if someone has more money than sense they would first have to get Dai to sell the stadium at a reasonable price - which without Bearwoood is arguably minimal. They would also have to agree to buy the club which is worthless so say for £1. And then they would have to sort out a training facility and see if they could save the Academy. Dai is unlikely to agree to sell the stadium and club for next to nothing and will likely prefer to keep it, let the stadium fall into a rat infested hole and then try eventually to get planning permission to turn it into flats to try to get some money back.

[rabidbee]

Oldham hold the title of the first ex premiership club to fall into the National League. Still get gates of 7k. Have a local owner. People pulling together in the same direction could create a new beginning for RFC.

Also concerned that the EFL will point to our demise as the fault of the EPL, not to agree to a deal on funding. We will be used as pawns for leverage, for the impotent twats to get a few extra quid out of the Premier League. As we disappear, they will then claim it as a victory, blame everyone else for our death whilst they continue to steal a living off its members. Not fit for purpose, like most of the incompetent leeches that run/ruin the beautiful game.

The PL deal does matter, but ultimately it's about more money which isn't everything. If the EFL had had an extra 20% TV revenue when Dai bought us, do you think his reign would have gone any differently? I actually have sympathy with Steve Parish's argument that they shouldn't be giving extra money to billionaire Championship owners to piss away on their gamble to reach the PL.

It's not just about money, is it? It's also about agreeing a replacement to FFP that works. It's also about reforming parachute payments.

[WestYorksRoyal]

As others have said Dai owns Bearwood separately and so not an asset of the club and so it would not be illegal. As I also said above without Bearwood and the Academy the club is likely unsaleable. Only a truly insane lunatic would buy a big stadium with a massively loss making club, no training ground and no way of making money through future Academy sales.

My guess is that if the sale goes through Dai will put just enough in the club to see out the season to take the heat off him and will then pocket the rest. Then it will be up to Howe to find an insane lunatic to buy what little is left of the club or we don’t start next season. I cannot see any hope of survival unless the EFL threaten Wycombe with sanctions for putting the game into disrepute if they proceed with the purchase - which I expect is also unlikely.

People need to stop rushing to judgments about the club being unsaleable. People don't go into football to make money. This news greatly reduces the asking price of the club, and no doubt there will be plenty of parties who fancy themselves as the ones to help stabilise us and rebuild. Hopefully we get one who is actually capable.

Our biggest challenge has never been finding a buyer. It has always been convincing the seller to sell.

I admire your optimism but even if someone has more money than sense they would first have to get Dai to sell the stadium at a reasonable price - which without Bearwoood is arguably minimal. They would also have to agree to buy the club which is worthless so say for £1. And then they would have to sort out a training facility and see if they could save the Academy. Dai is unlikely to agree to sell the stadium and club for next to nothing and will likely prefer to keep it, let the stadium fall into a rat infested hole and then try eventually to get planning permission to turn it into flats to try to get some money back.

I'm not optimistic. I don't think Dai will sell. But if a miracle happens and he starts credible negotiations, we will find someone

[Orion1871]

It's against UK company law for an owner to take money out of an insolvent company.

As others have said Dai owns Bearwood separately and so not an asset of the club and so it would not be illegal. As I also said above without Bearwood and the Academy the club is likely unsaleable. Only a truly insane lunatic would buy a big stadium with a massively loss making club, no training ground and no way of making money through future Academy sales.

My guess is that if the sale goes through Dai will put just enough in the club to see out the season to take the heat off him and will then pocket the rest. Then it will be up to Howe to find an insane lunatic to buy what little is left of the club or we don’t start next season. I cannot see any hope of survival unless the EFL threaten Wycombe with sanctions for putting the game into disrepute if they proceed with the purchase - which I expect is also unlikely.

People need to stop rushing to judgments about the club being unsaleable. People don't go into football to make money. This news greatly reduces the asking price of the club, and no doubt there will be plenty of parties who fancy themselves as the ones to help stabilise us and rebuild. Hopefully we get one who is actually capable.

Our biggest challenge has never been finding a buyer. It has always been convincing the seller to sell.

Yep, plenty of reputable people will be lining up to buy, I'm sure.

[windermereROYAL]

Wigan sold their training ground to Preston when they were in the poo, they still got a buyer.
The club statement yesterday stating there will be an announcement in due course about alternative training arrangements, whether that`s BS on their part to take the heat out of the situation is anybody`s guess.

[windermereROYAL]

Wigan sold their training ground to Preston when they were in the poo, they still got a buyer.
The club statement yesterday stating there will be an announcement in due course about alternative training arrangements, whether that`s BS on their part to take the heat out of the situation is anybody`s guess.

[Hound]

They’ll find training facilities easy enough. It might be a trek and they might not be very good but they’ll find somewhere

[PieEater]

Wigan sold the training ground they bought from Bolton to Preston when they were in the poo, they still got a buyer.
The club statement yesterday stating there will be an announcement in due course about alternative training arrangements, whether that`s BS on their part to take the heat out of the situation is anybody`s guess.

[Armadillo Roadkill]

Wigan sold their training ground to Preston when they were in the poo, they still got a buyer.
The club statement yesterday stating there will be an announcement in due course about alternative training arrangements, whether that`s BS on their part to take the heat out of the situation is anybody`s guess.

Do Wigan own their ground? If so the buyer was getting a club and a stadium, not just the legal entity and a place in the league. Because without any assets a L1 or L2 football club isn't much of an prospect.

[Delboy]

Has anyone at SBWD contacted Wokingham council to see if planning is transferrable, it was clearly in RFC name?

[Hendo]

Adams Park protest still going ahead, apparently...

https://twitter.com/SellBeforeWeDai/status/1768604850735006031/photo/1

BBC, ITV and Sky all going as well.

Good well end up looking a bit sad...

[Green]

Good luck and fair play to those that go.

[WestYorksRoyal]

Interesting that they're exploring how they can force administration. It has got that desperate, but I can't see a path for them achieving it.

[Snowflake Royal]

They’ll find training facilities easy enough. It might be a trek and they might not be very good but they’ll find somewhere

Yeah, the training ground isn’t about the club not having somewhere to train.

It's about the club being divested from It's one genuinely valuable asset, and having zero chance of continuing a Cat 1 or probably even Cat 2 academy.

And that means our long term recovery just got shot through the knees.

[Fezza]

I'm not sure why I bothered emailing my MP, but this is John Howell's (non) response;

Thank you for your email regarding Reading Football Club. I am aware of the issues facing the club and I did raise this with the Minister in January to ask what can be done to help support Reading. I have attached the response that I received from Rt Hon Stuart Andrew.

As the Minister explains, the sale of the club is a commercial matter and not something in which the Government can intervene. The Government is indeed working to ensure that there are further regulations in place to prevent these issues occurring in the future. New legislation was announced in the King’s Speech last November however this has not yet come forward.

While I feel greatly for Reading Football Club and their many supporters there really is nothing I can do prevent the sale of the training grounds or to encourage a buyer for the club.

John

This led me to think about selling for a significant loss. Will Dai be due a rebate for the tax paid through capital gains?

[windermereROYAL]

Wigan sold their training ground to Preston when they were in the poo, they still got a buyer.
The club statement yesterday stating there will be an announcement in due course about alternative training arrangements, whether that`s BS on their part to take the heat out of the situation is anybody`s guess.

Do Wigan own their ground? If so the buyer was getting a club and a stadium, not just the legal entity and a place in the league. Because without any assets a L1 or L2 football club isn't much of an prospect.

I`ve since discovered they moved back to their old training ground after the sale, that`s not an option for us.

[Loafer]

I think SWBD has gone the same was as C1871 now..... time to turn to violence now

[blueroyals]

They’ll find training facilities easy enough. It might be a trek and they might not be very good but they’ll find somewhere

Don't forget that needs to include space for the academy teams and the women's team. Or 3 separate facilities

[Hound]

They’ll find training facilities easy enough. It might be a trek and they might not be very good but they’ll find somewhere

Don't forget that needs to include space for the academy teams and the women's team. Or 3 separate facilities

Not if they get binned off it doesn’t .