CONFRIMED: Takeover collapsed; Back to square one

[WestYorksRoyal]

Hard to understand what Dai actually gets out of holding the club. Realistically we aren't going up anytime soon we'll either stay in league one or drop further without investment which he obviously isn't committed to. The longer he holds on, the less he's going to get.

This is certainly a blow for us and we need to turn up the heat with protests that;
1) Show that we approve of Couhig
2) Continue to support the players who have been through so much crap
3) Give further bad publicity to Dai

Fortunately as other posters have said we are ok financially for now with the Olise and Azeez money + Couhig's benevolence in keeping the club afloat. If we didn't have that we'd be finished.

Is it fortunate that we have that money? Perhaps if we'd been on the brink of insolvency months ago he would have sold by now. It certainly convinced our ever elusive owner to sign the secured loan documents. If Couhig and his buyers are sensible, they won't be lending a penny more.

[Clyde1998]

Probably the most likely route away from Dai's ownership is via administration. I don't know if Couhig could recall the loan to cause that to happen. Seem to recall it was reported there was some clause that Couhig would get all the shares in the club in the event of a default; may be mis-remembering though.

[Armadillo Roadkill]

Probably the most likely route away from Dai's ownership is via administration. I don't know if Couhig could recall the loan to cause that to happen. Seem to recall it was reported there was some clause that Couhig would get all the shares in the club in the event of a default; may be mis-remembering though.

Administration = points deduction = relegation?

Does Couhig want to buy a League 2 club with Championship outgoings?

I can only think there is something significant we don't know. Administration and Dai gets nothing. So why would he allow that to happened when there's good money on the table?

[Clyde1998]

Probably the most likely route away from Dai's ownership is via administration. I don't know if Couhig could recall the loan to cause that to happen. Seem to recall it was reported there was some clause that Couhig would get all the shares in the club in the event of a default; may be mis-remembering though.

Administration = points deduction = relegation?

Does Couhig want to buy a League 2 club with Championship outgoings?

I can only think there is something significant we don't know. Administration and Dai gets nothing. So why would he allow that to happened when there's good money on the table?

Last season we would've stayed up and been fifteen points clear (effectively sixteen due to much better GD) of Cheltenham in 21st without any points deductions. It would certainly put us in a relegation battle and we have weaker squad depth than even the end of last season, but survival would be achievable with twelve points deduced for administration (assuming no other deductions).

Even if relegation was guaranteed, the question would be whether League Two and a completed takeover is better than League One for another season without a takeover, especially if we couldn't sign players again (or was very limited in what we could do).

I'd personally take the former option, but as you say, would Couhig still be interested in a club that could realistically be in League Two within the next couple of seasons? Possibly if he thinks we could still get back to the Championship within a four or five year period.

For reference, our contracted squad for next season is (out of those who've played a first team game) and notwithstanding any options the club has on players: Abrefa; Osho; Elliott; Savage; Wing; Knibbs; Smith and possibly Garcia; Kanu.

There must be something we don't know, although Dai doesn't seem like the most rational operator.

[WestYorksRoyal]

Probably the most likely route away from Dai's ownership is via administration. I don't know if Couhig could recall the loan to cause that to happen. Seem to recall it was reported there was some clause that Couhig would get all the shares in the club in the event of a default; may be mis-remembering though.

Administration = points deduction = relegation?

Does Couhig want to buy a League 2 club with Championship outgoings?

I can only think there is something significant we don't know. Administration and Dai gets nothing. So why would he allow that to happened when there's good money on the table?

It wouldn't be Championship outgoing. Administration allows you to butcher the club's operations and reduce outgoings dramatically.

Plus, he would save on the £30m he's reportedly willing to pay Dai.

[Sutekh]

Still stuck in the Status Quo

The club may have broken the rules and still be going down the dustpipe, while burning bridges, but there's always hope we can stop being accident prone, sinking down down, deeper and down with everything landing jam side down and that Dai will eventually accept what Rob's proposing and we all get whatever we want while living on an island.

But for the 4500th time why it's taking so long to get to the end is a complete mystery song and I just wish we could enjoy the wild side of life again. Hoping he doesn't need a piledriver to get him to realise that he can't stand the heat any more.

[The Royal Forester]

Reading protest group Sell Before We Dai have admitted that they are 'planning for action' amid concerns of a 'breakdown' in takeover talks.

American lawyer Rob Couhig and his consortium had expected to owned the football club long before now, financially keeping the club afloat and being approved by the EFL last month.

However, news broke in the Athletic that talks had 'broken down' and that the deal was at risk of 'collapse.'

This would leave the club battling in League One with a small squad, no doubt wracked with fear for the future, and another period of financial uncertainty similar to last year in which wages and tax payments were late.

No fan action has been taken since March, with Sell Before We Dai most active over last winter with tennis ball protests, organised marches and an infamous pitch invasion and abandonment.

Article on the Reading Chronicle website. Anyone got any information on The Athletic's report?

[karbota]

Probably the most likely route away from Dai's ownership is via administration. I don't know if Couhig could recall the loan to cause that to happen. Seem to recall it was reported there was some clause that Couhig would get all the shares in the club in the event of a default; may be mis-remembering though.

Administration = points deduction = relegation?

Does Couhig want to buy a League 2 club with Championship outgoings?

I can only think there is something significant we don't know. Administration and Dai gets nothing. So why would he allow that to happened when there's good money on the table?

It wouldn't be Championship outgoing. Administration allows you to butcher the club's operations and reduce outgoings dramatically.

Plus, he would save on the £30m he's reportedly willing to pay Dai.

But wouldn't own the ground or Bearwood?

[Royal_jimmy]

Probably the most likely route away from Dai's ownership is via administration. I don't know if Couhig could recall the loan to cause that to happen. Seem to recall it was reported there was some clause that Couhig would get all the shares in the club in the event of a default; may be mis-remembering though.

Administration = points deduction = relegation?

Does Couhig want to buy a League 2 club with Championship outgoings?

I can only think there is something significant we don't know. Administration and Dai gets nothing. So why would he allow that to happened when there's good money on the table?

He's a gambler so it's all or nothing for him. He's also not a bright man as evident in his appalling decisions in running the club over the past 7 years.

[Royal_jimmy]

Administration = points deduction = relegation?

Does Couhig want to buy a League 2 club with Championship outgoings?

I can only think there is something significant we don't know. Administration and Dai gets nothing. So why would he allow that to happened when there's good money on the table?

It wouldn't be Championship outgoing. Administration allows you to butcher the club's operations and reduce outgoings dramatically.

Plus, he would save on the £30m he's reportedly willing to pay Dai.

But wouldn't own the ground or Bearwood?

What use are either of those without the club. The stadium can only be used for football as it's an asset of community value. So it's worthless to him. Even if he did tried selling it to property developers the fans have the first dibs in buying it.

Training ground might go but who'd buy it? it's unlikely to get planning permission for housing

[Dirk Gently]

What use are either of those without the club. The stadium can only be used for football as it's an asset of community value. So it's worthless to him.

ACV doesn't mean that at all. It only means that "the community" (STAR) is informed when it's for sale and is given the chance to buy it.

It certainly doesn't protect it from a change of use. That'd be down to planning regulations and is quite different, and it'd never specify "football". It might specify "sports" but it'd never be that restrictive on what sports can be played there.

[Mid Sussex Royal]

It wouldn't be Championship outgoing. Administration allows you to butcher the club's operations and reduce outgoings dramatically.

Plus, he would save on the £30m he's reportedly willing to pay Dai.

But wouldn't own the ground or Bearwood?

What use are either of those without the club. The stadium can only be used for football as it's an asset of community value. So it's worthless to him. Even if he did tried selling it to property developers the fans have the first dibs in buying it.

Training ground might go but who'd buy it? it's unlikely to get planning permission for housing

Isn't the training ground secured as part of the loans?

[Royal_jimmy]

But wouldn't own the ground or Bearwood?

What use are either of those without the club. The stadium can only be used for football as it's an asset of community value. So it's worthless to him. Even if he did tried selling it to property developers the fans have the first dibs in buying it.

Training ground might go but who'd buy it? it's unlikely to get planning permission for housing

Isn't the training ground secured as part of the loans?

Good point!

Regardless, if we went into admin Dai would only have the stadium and fans could buy that if Dai tried to sell it off.

[The Royal Forester]

What use are either of those without the club. The stadium can only be used for football as it's an asset of community value. So it's worthless to him. Even if he did tried selling it to property developers the fans have the first dibs in buying it.

Training ground might go but who'd buy it? it's unlikely to get planning permission for housing

Isn't the training ground secured as part of the loans?

Good point!

Regardless, if we went into admin Dai would only have the stadium and fans could buy that if Dai tried to sell it off.

But the fans can't force Dai to sell them the Stadium can they? He can either refuse their offer or not put it up for sale in the first place. Would any fan group be able to sustain the buying of the Stadium taking a more than a year to get sorted out, anyway? Judging by the reports in The Athletic even Rob Couhig may have given up.

[The Faith Healer]

Still stuck in the Status Quo

The club may have broken the rules and still be going down the dustpipe, while burning bridges, but there's always hope we can stop being accident prone, sinking down down, deeper and down with everything landing jam side down and that Dai will eventually accept what Rob's proposing and we all get whatever we want while living on an island.

But for the 4500th time why it's taking so long to get to the end is a complete mystery song and I just wish we could enjoy the wild side of life again. Hoping he doesn't need a piledriver to get him to realise that he can't stand the heat any more.

I could answer that, but I don't waste my time...

[karbota]

It wouldn't be Championship outgoing. Administration allows you to butcher the club's operations and reduce outgoings dramatically.

Plus, he would save on the £30m he's reportedly willing to pay Dai.

But wouldn't own the ground or Bearwood?

What use are either of those without the club. The stadium can only be used for football as it's an asset of community value. So it's worthless to him. Even if he did tried selling it to property developers the fans have the first dibs in buying it.

Training ground might go but who'd buy it? it's unlikely to get planning permission for housing

Crayons

[Mid Sussex Royal]

But wouldn't own the ground or Bearwood?

What use are either of those without the club. The stadium can only be used for football as it's an asset of community value. So it's worthless to him. Even if he did tried selling it to property developers the fans have the first dibs in buying it.

Training ground might go but who'd buy it? it's unlikely to get planning permission for housing

A few months ago I might have agreed ( re Bearwood ) but with the current Labour clowns in office it will very likely get built on. Should never have moved from Elm Park.
Reap what you sow.

Yep Elm Park - prime resi area in west Reading

[Orion1871]

I eat corn the long way

[Lower West]

I can only think there is something significant we don't know. Administration and Dai gets nothing. So why would he allow that to happened when there's good money on the table?

The stadium as an asset sits outside the football club. Sale of Bearwood would return something to Dai after settling other creditors.

The accounts for the year ended June 2023 were due to be filed by 30th June 2024. Now well overdue. Assumption can only be that the auditors are unable to sign them off. As there's no certainty that the club is a going concern. Finances must be precarious.

[Pepe the Horseman]

I eat corn the long way

Karbota is Bill Goldberg?