CONFRIMED: Takeover collapsed; Back to square one

[Brogue]

So the only reason femi was sold was because Sellés thought we could replace him.

RS: "I got assured that if I let Femi go- and it was my decision also- then we could have a replacement immediately. It was a misunderstanding with the people communicating with the EFL and that was not true.

[Orion1871]

Someone posted that his ban has finished, and I think that the assumption was that he was back at work.

Yeah that was it.

Oh for the days we were a model example of a well run club. Now it's just a shambles from top to bottom. Obviously we want Dai out, but what the fcuk are senior staff doing allowing an oversight like this to happen?

Wow, this has to be on Bowen surly!! As DOF it should be your job to liaise with the EFL and know the rulings inside and out, especially in our situation. Shocking!!

Earnshaw asked Selles about Bowen and Selles wouldn't answer a question on him. Earnshaw states from his digging that Bowen does not appear to have been to Bearwood or indeed appeared to be working for the past month. Suggestion that he is on gardening leave ahead of the neverending takeover saga.

Or he's got some time off to go somewhere that will help him with his issues.

[karbota]

Guess everyone’s seen Twitter by now but from the presser

Takeover in final stages but not complete. No predicted date (sigh)

Azeez - expectation was the sale meant we could bring someone in. We can’t, club screwed up in their comms with the EFL (sigh again)

Oh for the days we were a model example of a well run club. Now it's just a shambles from top to bottom. Obviously we want Dai out, but what the fcuk are senior staff doing allowing an oversight like this to happen?

O dear yes 106, that would be in the days of a British owner, British staff, British Manager, and Majority of British players.

[karbota]

Guess everyone’s seen Twitter by now but from the presser

Takeover in final stages but not complete. No predicted date (sigh)

Azeez - expectation was the sale meant we could bring someone in. We can’t, club screwed up in their comms with the EFL (sigh again)

Oh for the days we were a model example of a well run club. Now it's just a shambles from top to bottom. Obviously we want Dai out, but what the fcuk are senior staff doing allowing an oversight like this to happen?

O dear yes 106, that would be in the days of a British owner, British staff, British Manager, and Majority of British players.

Reap what you sow Knobbers!

[Snowflake Royal]

Guess everyone’s seen Twitter by now but from the presser

Takeover in final stages but not complete. No predicted date (sigh)

Azeez - expectation was the sale meant we could bring someone in. We can’t, club screwed up in their comms with the EFL (sigh again)

I could have told them we wouldn't be allowed to. Communication error my arse. oxf*rd wits.

[Snowflake Royal]

Oh for the days we were a model example of a well run club. Now it's just a shambles from top to bottom. Obviously we want Dai out, but what the fcuk are senior staff doing allowing an oversight like this to happen?

Wow, this has to be on Bowen surly!! As DOF it should be your job to liaise with the EFL and know the rulings inside and out, especially in our situation. Shocking!!

Earnshaw asked Selles about Bowen and Selles wouldn't answer a question on him. Earnshaw states from his digging that Bowen does not appear to have been to Bearwood or indeed appeared to be working for the past month. Suggestion that he is on gardening leave ahead of the neverending takeover saga.

Interesting. Wouldn't be surprised if he's replaced.

He's done a lot of good. But there's clearly problems there.

Would think the recruitment dude would be more culpable on the Azeez oxf*rd up than Bowen.

[Snowflake Royal]

So the only reason femi was sold was because Sellés thought we could replace him.

RS: "I got assured that if I let Femi go- and it was my decision also- then we could have a replacement immediately. It was a misunderstanding with the people communicating with the EFL and that was not true.

I almost posted at the time that it sounded nonsense. But couldn't be arsed with the fight.

Selling Azeez wouldn’t change the fact we are prevented from making any payment for a signing.

Selling Azeez wouldn’t alter the alleged restriction on signing any players until the accounts are published, assuming that is a thing. And that or something similar must be, because it's not about squad size and we clearly can't sign anyone

[Sutekh]

Oh for the days we were a model example of a well run club. Now it's just a shambles from top to bottom. Obviously we want Dai out, but what the fcuk are senior staff doing allowing an oversight like this to happen?

Wow, this has to be on Bowen surly!! As DOF it should be your job to liaise with the EFL and know the rulings inside and out, especially in our situation. Shocking!!

Earnshaw asked Selles about Bowen and Selles wouldn't answer a question on him. Earnshaw states from his digging that Bowen does not appear to have been to Bearwood or indeed appeared to be working for the past month. Suggestion that he is on gardening leave ahead of the neverending takeover saga.

Or possibly serving a 4 week suspension.

[Sutekh]

Wow, this has to be on Bowen surly!! As DOF it should be your job to liaise with the EFL and know the rulings inside and out, especially in our situation. Shocking!!

Bit difficult when you've been suspended though.

I might be wrong but someone posted his ban is over and he's now back at work? my bad if i'm wrong lol.

12 week ban, 8 weeks of which were suspended. Believe the 4 week ban commenced around 17 July which means he should have been back around 14 August. My guess is that this mess is caused because he's probably going to be moving on under a new regime (if one ever gets the go ahead), and Joe Jacobsen will get the gig, but seems strange to not have this covered adequately (and it's something that should have been abundently clear to everyone at the club months and months ago that the FL would not sanction any incoming transfers while a club's ownership is in flux). Perhaps the actual guidance provided by the FL is written a little ambiguously for a club in Reading's current situation and someone interpreted in the wrong way before double checking with the FL.

As has been alluded to previously this club seems to be currently one big disorganised mess and it's like the blind leading the blind. Surprised they didn't just leave RS to sort everything over the summer - think he'd have done a better job.

[RoyalBlue]

So the only reason femi was sold was because Sellés thought we could replace him.

RS: "I got assured that if I let Femi go- and it was my decision also- then we could have a replacement immediately. It was a misunderstanding with the people communicating with the EFL and that was not true.

I almost posted at the time that it sounded nonsense. But couldn't be arsed with the fight.

Selling Azeez wouldn’t change the fact we are prevented from making any payment for a signing.

Selling Azeez wouldn’t alter the alleged restriction on signing any players until the accounts are published, assuming that is a thing. And that or something similar must be, because it's not about squad size and we clearly can't sign anyone

Funny that because you didn't disagree when I said that the EFL were finally doing something positive to help us by agreeing to allow us to sign a replacement and then pointed out that they had been actively trying to help us for some time!

[Snowflake Royal]

So the only reason femi was sold was because Sellés thought we could replace him.

I almost posted at the time that it sounded nonsense. But couldn't be arsed with the fight.

Selling Azeez wouldn’t change the fact we are prevented from making any payment for a signing.

Selling Azeez wouldn’t alter the alleged restriction on signing any players until the accounts are published, assuming that is a thing. And that or something similar must be, because it's not about squad size and we clearly can't sign anyone

Funny that because you didn't disagree when I said that the EFL were finally doing something positive to help us by agreeing to allow us to sign a replacement and then pointed out that they had been actively trying to help us for some time!

Because it wasn't worth the fight of talking to a brick wall any more than correcting you that they had been being flexible for ages, when I only had a suspicion, not facts.

[Orion1871]

I can't be arsed with this shit. Regardless it's quite obvious one of the key investors did not fail the directors test at Hull because Dai could have just bought the club on his own. So I don't buy this argument. It's clear he was the issue that caused the deal to collapse. Why would Dai use a big consortium when his wealth would easily buy Hull and he was the opportunity for him initially. The Dai's were the issue with the premier league, the EFL didn't do their diligence properly or take note of these red flags.

This is what SKY wrote about the failed Hull takeover back in May 2017

An attempt by Dai Yongge and Hawken Xiu Li, his sister, to buy Hull involved the use of a third party, who insisted that he controlled the relevant funds necessary to undertake the deal.

It subsequently transpired that the finances were actually under the control of Mr Dai, with the Financial Times reporting last month that a Premier League investigation into him had raised several "red flags" over his commercial background.

Interesting...

[Lower West]

I can't be arsed with this shit. Regardless it's quite obvious one of the key investors did not fail the directors test at Hull because Dai could have just bought the club on his own. So I don't buy this argument. It's clear he was the issue that caused the deal to collapse. Why would Dai use a big consortium when his wealth would easily buy Hull and he was the opportunity for him initially. The Dai's were the issue with the premier league, the EFL didn't do their diligence properly or take note of these red flags.

This is what SKY wrote about the failed Hull takeover back in May 2017

An attempt by Dai Yongge and Hawken Xiu Li, his sister, to buy Hull involved the use of a third party, who insisted that he controlled the relevant funds necessary to undertake the deal.

It subsequently transpired that the finances were actually under the control of Mr Dai, with the Financial Times reporting last month that a Premier League investigation into him had raised several "red flags" over his commercial background.

Interesting...

Probably unable to satisfy the requirements for funding a Premier League Team. As it was Reading FC was a step too far and didn't actually have the money.

[Sutekh]

Don't go anywhere near Twitter myself. And the Chronic won't let me read their articles anymore unless I hand them my data.

So HNA? is my only source of information. What else did they say in the Press Conference?

- Confirmed interest in Royals players but emphatically stated nobody is leaving
- Has made contact with wanted players and a list of targets
- Knibbs should be back after int. break
- Yiadom knee scan next week

Nice, yet again, of the club to leave Selles to handle everything at the presser - but then he's probably the only management left at the club at the moment.

[Snowflake Royal]

Don't go anywhere near Twitter myself. And the Chronic won't let me read their articles anymore unless I hand them my data.

So HNA? is my only source of information. What else did they say in the Press Conference?

- Confirmed interest in Royals players but emphatically stated nobody is leaving
- Has made contact with wanted players and a list of targets
- Knibbs should be back after int. break
- Yiadom knee scan next week

Nice, yet again, of the club to leave Selles to handle everything at the presser - but then he's probably the only management left at the club at the moment.

it's a pre-match press conference.

They'll have an ownership press conference when there's something to say.

[Hound]

Remember those days of transfer deadline day being interesting as a Reading fan. Bushwatch and all that

Seems a lifetime ago

[WestYorksRoyal]

I'm trying to be relaxed. If it completes in September, that's an outcome we'd have all snapped your hand off for in January. Even our threadbare squad should comfortably have enough to avoid a relegation scrap.

After Wigan, I thought top 6 was not unrealistic with a takeover completed and a few reinforcements. That's gone as an ambition now, but it doesn't really matter in the big scheme of things. Get the takeover done and look higher up the table next season.

At times this year we've discussed phoenix clubs or happily trading relegation to L2 for a new owner. Dai has made such a mess of this club I'm just thankful he has seemingly found a buyer, and one with solid EFL experience at that.

[mikey_1871]

Don't go anywhere near Twitter myself. And the Chronic won't let me read their articles anymore unless I hand them my data.

So HNA? is my only source of information. What else did they say in the Press Conference?

- Confirmed interest in Royals players but emphatically stated nobody is leaving
- Has made contact with wanted players and a list of targets
- Knibbs should be back after int. break
- Yiadom knee scan next week

Nice, yet again, of the club to leave Selles to handle everything at the presser - but then he's probably the only management left at the club at the moment.

Fairly standard procedure for the manger to be the figurehead at the club and answer such questions.
Who else would you expect to give a press conference?

[Forbury Lion]

Guess everyone’s seen Twitter by now but from the presser

Takeover in final stages but not complete. No predicted date (sigh)

Azeez - expectation was the sale meant we could bring someone in. We can’t, club screwed up in their comms with the EFL (sigh again)

Oh for the days we were a model example of a well run club. Now it's just a shambles from top to bottom. Obviously we want Dai out, but what the fcuk are senior staff doing allowing an oversight like this to happen?

O dear yes 106, that would be in the days of a British owner, British staff, British Manager, and Majority of British players.

Believe it or not, there are crap British owners, staff, managers and players out there. We had the right owner, someone who knew how to run a business on a budget and listened to the right advisors on the footballing side, he happened to be a local based British/Polish businessman whose company did well, Had Autotrader flopped before he sold it for £240m or whatever, things might have gone differently or whoever it was who suggested he hire Mark McGhee advised him to hire someone else we might never have left the 3rd tier.

[Elm Park Kid]

Utterly depressing that we've gone from the club being hopeful that Couhig could be announced at the season ticket party to now back into unknown territory. Especially given Couhig's activity over the last couple of weeks.

I guess that's the issue of trying to buy a club from a disengaged owner who has spent the last year letting an idiot CEO cause a load of short-term damage. I'd imagine that everything is such a mess that its been hard to work out what he's actually buying and what debt/liabilities come with it.