CONFRIMED: Takeover collapsed; Back to square one

[The Royal Forester]

Thanks. All we need to do now is keep our fingers crossed that the EFL will be convinced. (and Dai doesn't move the goalposts!)

[Who Moved The Goalposts?]

A @ReadingFC update. I’m told still lots of work to do if deal to be finalised within 10 days. Rob Couhig believes he can take over in that time, but EFL need convincing he has required funds and 2 year plan, and there’s a final meeting with DY to agree final terms pending. I’ll have more on @BBCSport later, but as we know it’s a consortium - Chiron. Other’s waiting in the wings if there’s an opportunity. Couhig looking at how can reduce costs/losses @ReadingFC. Has met players and staff and will keep RS in place.

https://x.com/TimDellor/status/1813907699953983828
https://x.com/TimDellor/status/1813909733050380530

That's what I've heard, but with the additional nugget that the EFL wants not just a 2 year plan but also 2 years cash in an account in advance. The last minute details to be sorted with Dai are, I'm told, relatively minor.

[RG30]

https://www.bbc.co.uk/sport/football/articles/cv2gq3znp52o

Latest article from Tim Dellor.

[WestYorksRoyal]

Someone has leaked to Dellor to cool expectations, and warn Couhig et. al not to fcuk about with the price at the last minute.

[PieEater]

A @ReadingFC update. I’m told still lots of work to do if deal to be finalised within 10 days. Rob Couhig believes he can take over in that time, but EFL need convincing he has required funds and 2 year plan, and there’s a final meeting with DY to agree final terms pending. I’ll have more on @BBCSport later, but as we know it’s a consortium - Chiron. Other’s waiting in the wings if there’s an opportunity. Couhig looking at how can reduce costs/losses @ReadingFC. Has met players and staff and will keep RS in place.

https://x.com/TimDellor/status/1813907699953983828
https://x.com/TimDellor/status/1813909733050380530

That's what I've heard, but with the additional nugget that the EFL wants not just a 2 year plan but also 2 years cash in an account in advance. The last minute details to be sorted with Dai are, I'm told, relatively minor.

Appropriately named comment. The EFL making up Goalposts to scupper us. Surely there's no precident for anyone stumping up 2 years of funding, especially when a lot of clubs rely on transfer revenue for future funds.

[Lower West]

Someone has leaked to Dellor to cool expectations, and warn Couhig et. al not to fcuk about with the price at the last minute.

"Couhig is already exploring every possible way to save money at Reading FC."

Sounds like a bucket of cold water. New owners but a long long road lies ahead.

[Ascotexgunner]

https://www.bbc.co.uk/sport/football/articles/cv2gq3znp52o

Latest article from Tim Dellor.

At the end of the day all of that I've heard.... Except the Ainsworth angle.
It's clear that if they take over, Selles will have to start the season really well or he maybe gone. I honestly think these owners aims will be to make us a bargain basement Championship club.....mind you still better than where we are.

[WestYorksRoyal]

https://www.bbc.co.uk/sport/football/articles/cv2gq3znp52o

Latest article from Tim Dellor.

At the end of the day all of that I've heard.... Except the Ainsworth angle.
It's clear that if they take over, Selles will have to start the season really well or he maybe gone. I honestly think these owners aims will be to make us a bargain basement Championship club.....mind you still better than where we are.

I don't really mind. What the past couple of years has taught me is that so long as we have a likeable team fighting for the badge, I'll be happy. Last season was miserable off the pitch, but ultimately one of the most enjoyable off it (I've erased the autumn where it was disintegrating on and off the pitch all at once from my memory).

You probably have to go back to 2012 for a season I enjoyed more, even though we experienced our lowest finish in about 30 years.

If our incoming owners make cuts and don't show "ambition", I'm fine with that if they make us sustainable and secure our future. Just give me a team worth watching every Saturday.

[Franchise FC]

A @ReadingFC update. I’m told still lots of work to do if deal to be finalised within 10 days. Rob Couhig believes he can take over in that time, but EFL need convincing he has required funds and 2 year plan, and there’s a final meeting with DY to agree final terms pending. I’ll have more on @BBCSport later, but as we know it’s a consortium - Chiron. Other’s waiting in the wings if there’s an opportunity. Couhig looking at how can reduce costs/losses @ReadingFC. Has met players and staff and will keep RS in place.

https://x.com/TimDellor/status/1813907699953983828
https://x.com/TimDellor/status/1813909733050380530

That's what I've heard, but with the additional nugget that the EFL wants not just a 2 year plan but also 2 years cash in an account in advance. The last minute details to be sorted with Dai are, I'm told, relatively minor.

That does raise the interesting scenario that, should Chiron say ‘no chance’ to depositing that sort of cash, the EFL would, effectively, be signing the club’s death warrant because they’d be left with Dai and absolutely no chance of such cash being forthcoming

Whilst I think they’ve simply been applying the rules voted for by the clubs themselves, adding a layer of their own in that way would strike me as counterproductive and leave them open to some real, and probably deserved, criticism

[traff]

https://x.com/TimDellor/status/1813907699953983828
https://x.com/TimDellor/status/1813909733050380530

That's what I've heard, but with the additional nugget that the EFL wants not just a 2 year plan but also 2 years cash in an account in advance. The last minute details to be sorted with Dai are, I'm told, relatively minor.

That does raise the interesting scenario that, should Chiron say ‘no chance’ to depositing that sort of cash, the EFL would, effectively, be signing the club’s death warrant because they’d be left with Dai and absolutely no chance of such cash being forthcoming

Whilst I think they’ve simply been applying the rules voted for by the clubs themselves, adding a layer of their own in that way would strike me as counterproductive and leave them open to some real, and probably deserved, criticism

Like all of the football governing bodies they appear to be deaf to criticism, happy to dish out penalties (regardless of the ramifications) as they operate with a dictatorial impunity. When it comes to supporting clubs in distress all I ever hear is rhetoric and soundbites without any substantiative support.
Until they have a masterstroke idea like 17:30 KO times on first day of the season, pure genius.

[Snowflake Royal]

https://x.com/TimDellor/status/1813907699953983828
https://x.com/TimDellor/status/1813909733050380530

That's what I've heard, but with the additional nugget that the EFL wants not just a 2 year plan but also 2 years cash in an account in advance. The last minute details to be sorted with Dai are, I'm told, relatively minor.

Appropriately named comment. The EFL making up Goalposts to scupper us. Surely there's no precident for anyone stumping up 2 years of funding, especially when a lot of clubs rely on transfer revenue for future funds.

A lot of clubs being taken over probably have better income to costs.

The Academy, plus maintaining Bearwood and the Madejski is pretty huge. And we'll have a fairly top end L1 wage bill

Any credible plan pretty much has to involve seriously downgrading the Academy in at least the short term. And looking to cash in on something close to a player a year to the tune of hundreds of thousands, if not low millions.

[Mid Sussex Royal]

It might just be though that Chiron or whoever it is have only proved they have the money to purchase the club, so maybe the EFL are right to ask questions around ongoing funding.

It's not as if someone like Elon Musk or the Wrexham yanks are buying us

[Crusader Royal]

https://x.com/TimDellor/status/1813907699953983828
https://x.com/TimDellor/status/1813909733050380530

That's what I've heard, but with the additional nugget that the EFL wants not just a 2 year plan but also 2 years cash in an account in advance. The last minute details to be sorted with Dai are, I'm told, relatively minor.

Appropriately named comment. The EFL making up Goalposts to scupper us. Surely there's no precident for anyone stumping up 2 years of funding, especially when a lot of clubs rely on transfer revenue for future funds.

They can’t expect the full cost of running a club for 2 years to be put into an account.
I could understand if a 2 year plan indicates a shortfall between income and expenditure and the EFL Want that amount covered.
If the consortium then maximise revenue and/ or minimise costs they may never need to touch the cash.

[WestYorksRoyal]

Isn't it good that the EFL are being firm with buyers? If you're not willing to commit to stabilising us over 2 years, what are you doing buying us? This ensures we'll be more secure, and if this group can't meet their demands there are other interested parties.

Wasn't the world meant to cave in for Everton if 777 were blocked, but now they're on a path to a better owner.

[SouthDownsRoyal]

Tim Dellor posted update on X

Be nice if you posted the update

[SouthDownsRoyal]

A @ReadingFC update. I’m told still lots of work to do if deal to be finalised within 10 days. Rob Couhig believes he can take over in that time, but EFL need convincing he has required funds and 2 year plan, and there’s a final meeting with DY to agree final terms pending. I’ll have more on @BBCSport later, but as we know it’s a consortium - Chiron. Other’s waiting in the wings if there’s an opportunity. Couhig looking at how can reduce costs/losses @ReadingFC. Has met players and staff and will keep RS in place.

https://x.com/TimDellor/status/1813907699953983828
https://x.com/TimDellor/status/1813909733050380530

Thank you

[Sutekh]

That's what I've heard, but with the additional nugget that the EFL wants not just a 2 year plan but also 2 years cash in an account in advance. The last minute details to be sorted with Dai are, I'm told, relatively minor.

Appropriately named comment. The EFL making up Goalposts to scupper us. Surely there's no precident for anyone stumping up 2 years of funding, especially when a lot of clubs rely on transfer revenue for future funds.

They can’t expect the full cost of running a club for 2 years to be put into an account.
I could understand if a 2 year plan indicates a shortfall between income and expenditure and the EFL Want that amount covered.
If the consortium then maximise revenue and/ or minimise costs they may never need to touch the cash.

The FL have to be careful with their demands as if those demands cause a deal to collapse and put a club at risk of going the same way as Bury they are going to be very heavily criticised (of course if Reading was a "name" then they'd more than like be very flexible over any "requirements").

Really hoping this gets over the line so we can get on with pretending we're a normal club again.

[blythspartan]

Back in the UK next week and at least it sounds like more positive news on the takeover.

On a separate note there was a tweet from someone connected with the club a few weeks ago and it mentioned that if our academy is downgraded twice, we won’t be able to get our category 1 status back. Anyone know if that’s true? Pretty sure Couhig will want to downgrade it again, which I get.

[Crusader Royal]

Back in the UK next week and at least it sounds like more positive news on the takeover.

On a separate note there was a tweet from someone connected with the club a few weeks ago and it mentioned that if our academy is downgraded twice, we won’t be able to get our category 1 status back. Anyone know if that’s true? Pretty sure Couhig will want to downgrade it again, which I get.

Possibly a difference between being downgraded because you fail an inspection and voluntarily dropping a category.
Failing twice might be a legitimate reason to suggest you aren’t suitable to run a Cat 1….

[WestYorksRoyal]

If you observe wider EFL clubs, how much worse is Category 2? Alex Scott coming out of Bristol City is one example I can think of. P'boro have a great academy and have never been Cat 1.

My understanding is to have Cat 1, you need a vast scale of operations which costs a lot, but does that have a bearing on your culture and the standards you set? I know it makes it easier for others to poach your talents, but doesn't this happen to us anyway?