CONFRIMED: Latest rumours Confrimed as Unconfrimed

[Brogue]

ffs its over. club will fold in the next couple of months

[WestYorksRoyal]

Don't see how this ends well unless it moves unexpected quickly (which I do not expect).

A lot of value at the club at the moment is that we have the foundations of a team and manager who can take us places with sensible recruitment. Well watch that fall apart if this drags. Dai will be trying to sell the same club except with a carcass of a team and secured debt due to Chiron. Good luck.

It was so obvious Chiron had all the leverage for the reasons above, but it's all a game to Dai. He has proven he still has the power. Well done. Now everything may be fcuked.

[The Royal Forester]

That's it then.

Reading FC R.I.P.

[Clyde1998]

Not reassuring. I imagine we're not going to have a takeover for months at the earliest now.

[Brogue]

Home’s suspension now probably comes into play for any future deal

[Snowflake Royal]

Great,already having a shit day,and now this steaming pile of excrement.

[WestYorksRoyal]

You wonder how much Dai really wants to sell or whether Chiron were patsy's so pay the bills and keep the lights on. Obviously short termism but when has Dai been sensible?

Now we have season ticket revenue, the summer solidarity payments from the PL and a potential Olise windfall incoming. Dai may be thinking he's got loads of time to spin this out.

[Snowflake Royal]

You wonder how much Dai really wants to sell or whether Chiron were patsy's so pay the bills and keep the lights on. Obviously short termism but when has Dai been sensible?

Now we have season ticket revenue, the summer solidarity payments from the PL and a potential Olise windfall incoming. Dai may be thinking he's got loads of time to spin this out.

The pcunt has probably deliberately wound down exclusivity so he can try to play other buyers off against Chiron to up their price.

And it won't work, because he's the only fukwit involved.

We're done.

[morganb]

Statement in full -

Reading Football Club would like to provide the following update regarding the club’s sale process.

On 26th March the Club announced it had entered into a letter of intent with a potential purchaser. This exclusivity period has now expired but dialogue remains open with this group, as well as new bidders, with the aim of completing a sale at the earliest opportunity.

Mr Dai remains committed to the complete sale of Reading Football Club and its associated assets. The Club appreciates the patience from our staff and supporters through this protracted process, and aim to communicate substantive developments when appropriate.

James "glass half full" Earnshaw says -

Is worth noting that it took the likes of Derby, Coventry and Southend multiple spells of exclusivity to find a deal (and Southend still rumbles on). Frustrating and potentially damaging but not wholly unusual

[WestYorksRoyal]

Maybe it ends with Chiron getting it on the cheap due to their charges over the club. It's just happened with a lender at Inter Milan, and could well happen at Everton. I'm not expecting Dai to pay them back.

But obviously would very stressful to get to that point.

[andrew1957]

Cannot say this news comes as a surprise. It is hard to feel any confidence at this point that the club has a future and one does wonder if the owner would rather the club Dai than be sold. He has a track record after all.

[Orion1871]

The cretin is going to make the sale as difficult as possible. That's if he actually has any intention of selling at all.

[Pepe the Horseman]

Maybe it ends with Chiron getting it on the cheap due to their charges over the club. It's just happened with a lender at Inter Milan, and could well happen at Everton. I'm not expecting Dai to pay them back.

But obviously would very stressful to get to that point.

Would we have to go into administration for this to happen?

[Sutekh]

The cretin is going to make the sale as difficult as possible. That's if he actually has any intention of selling at all.

He is clueless and doesn't know what he is doing.

[The Royal Forester]

No new owners, Dai stays put with controlling shares, so we are up the creek. With or without a paddle, the club folds.
I do hope I am wrong though.
My post on the New Owners Prediction League

Wil I be the winner? I hope not.

[WestYorksRoyal]

Maybe it ends with Chiron getting it on the cheap due to their charges over the club. It's just happened with a lender at Inter Milan, and could well happen at Everton. I'm not expecting Dai to pay them back.

But obviously would very stressful to get to that point.

Would we have to go into administration for this to happen?

I don't think so. Club defaults on the loan, Chiron are entitled to seize the shares.

[The Royal Forester]

Maybe it ends with Chiron getting it on the cheap due to their charges over the club. It's just happened with a lender at Inter Milan, and could well happen at Everton. I'm not expecting Dai to pay them back.

But obviously would very stressful to get to that point.

Would we have to go into administration for this to happen?

I don't think so. Club defaults on the loan, Chiron are entitled to seize the shares.

What percentage of the club shares are still owned by Dai? Surely he wouldn't have put a controlling amount of shares at risk, would he?
What would happen if Dai liquidated the club, or can't he do that now?

[Clyde1998]

Would we have to go into administration for this to happen?

I don't think so. Club defaults on the loan, Chiron are entitled to seize the shares.

What percentage of the club shares are still owned by Dai? Surely he wouldn't have put a controlling amount of shares at risk, would he?
What would happen if Dai liquidated the club, or can't he do that now?

I believe it was reported Narin Niruttinanon (one of the Thais) still holds around 5% (I can't find the source). Dai (and maybe his sister) would own the rest.

[Stranded]

Well at least we know where we are.

At least the Euros start next Friday so can simply ignore the slow motion car crash that is our club.

Wonder how much longer Selles will be prepared to hang on as every day, let alone week without a new owner and the level of security that should bring will undoubtedly see us miss targets and see us looking at an ever diminishing pool of free agents.

[Armadillo Roadkill]

This is obviously very bad news.

I wonder if any of the work undertaken as due diligence could be used by another prospective buyer, or whether they would have to go right back to the beginning? Because if it can', any takeover by a new party will not happen before the season starts.

So we'd be left with a DoF banned from football, a manager with a greatly enhanced reputation open to offers, a club in chaos, and with a creditor other than the current owner, who might well want to call this debts in, triggering administration.

Hopefully one of you wonderful people can tell me I'm wrong in this pessimism.