CONFRIMED: Takeover collapsed; Back to square one

[Snowflake Royal]

If its true and the EFL are letting us replace Azeez, they are helping us hugely as by there own rules no signings are allowed if financials are not up to date....(Sheffield Utd and Burnley most recent examples from last year just before they were promoted)

It did sound like Ruben said that in the interview and that they had identified a player, just had to agree terms and were doing everything they could to get him in for next Saturday.

As if to emphasise the distinction he then added that if the sale of the club went through in time, he was also hopeful of adding one or two other players before the deadline.

So, if we heard and understood correctly, the EFL do deserve some praise for finally adopting a more pragmatic approach to our problems and seeking to help us.

They've been doing that for ages.

[SpaghettiHoop]

I would suggest people be careful with what they write on here at the moment. We are being watched…

Source?

[Mid Sussex Royal]

I would suggest people be careful with what they write on here at the moment. We are being watched…

Source?

Keir Starmer

[RoyalBlue]

If its true and the EFL are letting us replace Azeez, they are helping us hugely as by there own rules no signings are allowed if financials are not up to date....(Sheffield Utd and Burnley most recent examples from last year just before they were promoted)

It did sound like Ruben said that in the interview and that they had identified a player, just had to agree terms and were doing everything they could to get him in for next Saturday.

As if to emphasise the distinction he then added that if the sale of the club went through in time, he was also hopeful of adding one or two other players before the deadline.

So, if we heard and understood correctly, the EFL do deserve some praise for finally adopting a more pragmatic approach to our problems and seeking to help us.

They've been doing that for ages.

'Ages' being 5, maybe 6 months (they were still pushing the independent commission for greater points deductions in February IIRC)? But this is probably the most significant thing to date if true.

[Snowflake Royal]

It did sound like Ruben said that in the interview and that they had identified a player, just had to agree terms and were doing everything they could to get him in for next Saturday.

As if to emphasise the distinction he then added that if the sale of the club went through in time, he was also hopeful of adding one or two other players before the deadline.

So, if we heard and understood correctly, the EFL do deserve some praise for finally adopting a more pragmatic approach to our problems and seeking to help us.

They've been doing that for ages.

'Ages' being 5, maybe 6 months (they were still pushing the independent commission for greater points deductions in February IIRC)? But this is probably the most significant thing to date if true.

They were pushing it to force Dai to sell, not points deductions.

[Royal_jimmy]

If its true and the EFL are letting us replace Azeez, they are helping us hugely as by there own rules no signings are allowed if financials are not up to date....(Sheffield Utd and Burnley most recent examples from last year just before they were promoted)

It did sound like Ruben said that in the interview and that they had identified a player, just had to agree terms and were doing everything they could to get him in for next Saturday.

As if to emphasise the distinction he then added that if the sale of the club went through in time, he was also hopeful of adding one or two other players before the deadline.

So, if we heard and understood correctly, the EFL do deserve some praise for finally adopting a more pragmatic approach to our problems and seeking to help us.

It's about time they did after the years of hell we've suffered thanks to their incompetent mistakes. If it's a loan signing and we're paying little if any of their wages and the EFL know our wage to turnover complies with the league then they're doing their job letting us bring a replacement in.

[RG30]

Anyone else get the feeling Dai is just dragging this out until 23:01 on the 30th as one last F U?

No, just more endless drivel from an impatient fan base.

Impatient? it`s been more than a year, I understand these things take time but the fan base are quite frankly pissed off with this seemingly never ending saga. and rightly so.

News of the club entering exclusivity with an interested party was on Tuesday, 26th March which is exactly 5 months to the day. Given this is a difficult complex transaction with lots of different companies scattered all over the place with an owner who doesn't speak a word of English based in China, it was inevitable there would be some delays.

[Esteban]

If its true and the EFL are letting us replace Azeez, they are helping us hugely as by there own rules no signings are allowed if financials are not up to date....(Sheffield Utd and Burnley most recent examples from last year just before they were promoted)

It did sound like Ruben said that in the interview and that they had identified a player, just had to agree terms and were doing everything they could to get him in for next Saturday.

As if to emphasise the distinction he then added that if the sale of the club went through in time, he was also hopeful of adding one or two other players before the deadline.

So, if we heard and understood correctly, the EFL do deserve some praise for finally adopting a more pragmatic approach to our problems and seeking to help us.

It's about time they did after the years of hell we've suffered thanks to their incompetent mistakes. If it's a loan signing and we're paying little if any of their wages and the EFL know our wage to turnover complies with the league then they're doing their job letting us bring a replacement in.

What incompetent mistakes? We broke the rules we signed up to, we did it consistently and we kept doing it even after we were punished the first time. Year after year, despite warnings, agreed business plans and soft transfer embargoes, we ignored the financial parameters that we signed up to work within.

Everything, all of it, goes back to Dai. It's his years of hell and incompetence we've suffered, so direct your anger at him.

[Brogue]

It did sound like Ruben said that in the interview and that they had identified a player, just had to agree terms and were doing everything they could to get him in for next Saturday.

As if to emphasise the distinction he then added that if the sale of the club went through in time, he was also hopeful of adding one or two other players before the deadline.

So, if we heard and understood correctly, the EFL do deserve some praise for finally adopting a more pragmatic approach to our problems and seeking to help us.

It's about time they did after the years of hell we've suffered thanks to their incompetent mistakes. If it's a loan signing and we're paying little if any of their wages and the EFL know our wage to turnover complies with the league then they're doing their job letting us bring a replacement in.

What incompetent mistakes? We broke the rules we signed up to, we did it consistently and we kept doing it even after we were punished the first time. Year after year, despite warnings, agreed business plans and soft transfer embargoes, we ignored the financial parameters that we signed up to work within.

Everything, all of it, goes back to Dai. It's his years of hell and incompetence we've suffered, so direct your anger at him.

Exactly. but we all know Jimmy is the worst poster on the team board.

[Snowflake Royal]

Allow me to reply so he and his ilk don't have to.

Blah blah, failed PL Hull bid, blah blah.
Whine whine - PL found an issue why couldn't the FL, whine whine
Bitch, moan - no money, waah waah failed clubs sob. Mean treatment, victimisation blah blah.


Except, wasn't Dai that scuppered the Hull deal. Thanks to the greedy PL they're separate organisations with vastly different resources, only very limited sharing of info. Proof of money was there. And neither of his other clubs went out of business until well after he bought us. We broke the rules, we got the penalties we deserved, or less

[WestYorksRoyal]

My understanding is that the EFL checks are more robust now than when Dai bought the club; I think Kieran Maguire on price of football pod mentioned it. That being said, even strict business plan checks can't guarantee an owner behaves themselves in the same way that driving tests don't guarantee someone won't drink drive.

[Sutekh]

My understanding is that the EFL checks are more robust now than when Dai bought the club; I think Kieran Maguire on price of football pod mentioned it. That being said, even strict business plan checks can't guarantee an owner behaves themselves in the same way that driving tests don't guarantee someone won't drink drive.

Well as long as RC hasn't put a line in his business plan saying "splaff thousands on a load of unknown and largely useless players and/or managers" then we should be OK.

[Snowflake Royal]

My understanding is that the EFL checks are more robust now than when Dai bought the club; I think Kieran Maguire on price of football pod mentioned it. That being said, even strict business plan checks can't guarantee an owner behaves themselves in the same way that driving tests don't guarantee someone won't drink drive.

Well as long as RC hasn't put a line in his business plan saying "splaff thousands on a load of unknown and largely useless players and/or managers" then we should be OK.

It's certainly not trivial trying to show he can fund a Cat One, maybe even Cat Two Academy, a 24k seater stadium, a state of the art training ground and a highly comptetitive L1 squad, on an upper L1 income.

[RG30]

We always try to end these columns on a cheery note, so let’s finish this one with the cautiously optimistic prediction that Reading should have new owners by the end of the week.

For those who have not followed the catalogue of disasters that have befallen the former Premier League side, Reading were relegated to League One, the English game’s third tier, in 2023 and then given three separate points deductions last season for failing to pay their players and the taxman on time. Their best young players have been sold off so the club can keep the heating on, key staff have been let go and the women’s team lost their professional status, dropping from the second tier to the fifth this season.

All of this and more has happened under the disastrous ownership of Dai Yongge, but the Chinese businessman is on the verge of selling the club, the stadium and their training ground to Rob Couhig, former owner of nearby fellow EFL side Wycombe Wanderers, and his business partner Todd Trosclair.

Both are from New Orleans. Couhig made his money in the legal business while Trosclair founded one of the largest electrical contractors in Louisiana, the state that U.S. city is in. Couhig also has several million burning a hole in his pocket from the sale of Wycombe to Georgian financial-technology billionaire Mikheil Lomtadze in May.

Couhig tried to buy some of what Yongge is selling when he agreed to purchase Reading’s training ground for Wycombe (the two towns are 35 minutes’ drive apart in London’s western commuter belt) last season, only for that deal to quickly collapse.

The 75-year-old clearly saw the potential for a Reading revival, though, and he has now back for them lock, stock and barrel.

We wish him, Trosclair and Reading all the best.

https://www.nytimes.com/athletic/5722320/2024/08/27/fifa-google-city-epl-efl-business/

[WestYorksRoyal]

Nothing new in the Athletic. "Should" be done this week - feels the same as the rest of August.

[RG30]

Matt Slater was the journalist who broke the Bearwood story so definitely well sourced.

[Sutekh]

Change the thread title to "Takeover should be confirmed this week", at least then it'll be accurate and futureproof.

[Royalwaster]

[Hendo]

If only there was a 230 page mega-thread to discuss the takeover.

[Royalwaster]

True - but the other tread seems to suggest it's already done.