CONFRIMED: Latest rumours Confrimed as Unconfrimed

[Sutekh]

Mike Gow on the X laying out what's going on the Dai's world

https://x.com/mikeygow/status/1846213677298360734

In summary Dai (and his co-defendents) have been placed on a "dishonest debtors" list in China for violation of asset reporting requirements (likely to be the failure to provide information or the inaccurate reporting of asset information - where have ween seen that before).

Assuming this guy actually still exists then the Chinese courts have numerous punishments they can throw at him including banning him from travel, hotels and leaving the country etc. on top of that failing to comply with these court orders is yet another offence to add to the list. He's thought to be in debt to the tune of around $1 billion (around £800 million) and is accruing interest on each debt the longer they go without payment.

Meanwhile Haitong is in the process of a merger with Guptai Junan to create a brokerage to rival Wall Street giants.

[WestYorksRoyal]

It would appear that, for once, the conspiracy theorists were on to something.

[katweslowski]

Mike Gow on the X laying out what's going on the Dai's world

https://x.com/mikeygow/status/1846213677298360734

In summary Dai (and his co-defendents) have been placed on a "dishonest debtors" list in China for violation of asset reporting requirements (likely to be the failure to provide information or the inaccurate reporting of asset information - where have ween seen that before).

Assuming this guy actually still exists then the Chinese courts have numerous punishments they can throw at him including banning him from travel, hotels and leaving the country etc. on top of that failing to comply with these court orders is yet another offence to add to the list. He's thought to be in debt to the tune of around $1 billion (around £800 million) and is accruing interest on each debt the longer they go without payment.

Meanwhile Haitong is in the process of a merger with Guptai Junan to create a brokerage to rival Wall Street giants.

This may be naive, but does anyone know what this means for ReadingFC?

Is it somehow a good thing as it may expedite certain processes, or is it bad because he's further restricted and it could hamper any deals?

[Linden Jones' Tash]

Mike Gow on the X laying out what's going on the Dai's world

https://x.com/mikeygow/status/1846213677298360734

In summary Dai (and his co-defendents) have been placed on a "dishonest debtors" list in China for violation of asset reporting requirements (likely to be the failure to provide information or the inaccurate reporting of asset information - where have ween seen that before).

Assuming this guy actually still exists then the Chinese courts have numerous punishments they can throw at him including banning him from travel, hotels and leaving the country etc. on top of that failing to comply with these court orders is yet another offence to add to the list. He's thought to be in debt to the tune of around $1 billion (around £800 million) and is accruing interest on each debt the longer they go without payment.

Meanwhile Haitong is in the process of a merger with Guptai Junan to create a brokerage to rival Wall Street giants.

This may be naive, but does anyone know what this means for ReadingFC?

Is it somehow a good thing as it may expedite certain processes, or is it bad because he's further restricted and it could hamper any deals?

Relaying what I read regarding that thread - both the academic guy & the debt restructuring guy seem to think that it may be a blessing in disguise having this Haitong institution now involved - given their interests and needs vs. DY

[traff]

Mike Gow on the X laying out what's going on the Dai's world

https://x.com/mikeygow/status/1846213677298360734

In summary Dai (and his co-defendents) have been placed on a "dishonest debtors" list in China for violation of asset reporting requirements (likely to be the failure to provide information or the inaccurate reporting of asset information - where have ween seen that before).

Assuming this guy actually still exists then the Chinese courts have numerous punishments they can throw at him including banning him from travel, hotels and leaving the country etc. on top of that failing to comply with these court orders is yet another offence to add to the list. He's thought to be in debt to the tune of around $1 billion (around £800 million) and is accruing interest on each debt the longer they go without payment.

Meanwhile Haitong is in the process of a merger with Guptai Junan to create a brokerage to rival Wall Street giants.

This may be naive, but does anyone know what this means for ReadingFC?

Is it somehow a good thing as it may expedite certain processes, or is it bad because he's further restricted and it could hamper any deals?

Relaying what I read regarding that thread - both the academic guy & the debt restructuring guy seem to think that it may be a blessing in disguise having this Haitong institution now involved - given their interests and needs vs. DY

It's a good piece.
It does appear to be slightly more positive as it takes the emotion out of the sale (i.e. Dai doing whatever he thinks is best for him)
At least with the bank making decisions, it would be more transactional. I would suggest they would see that some money back is better than getting nothing.
Under the cover of EFL new owners could surely not be any worse, could they?
I quite like the idea of the loathsome toad being locked up too.

[Orion1871]

This may be naive, but does anyone know what this means for ReadingFC?

Is it somehow a good thing as it may expedite certain processes, or is it bad because he's further restricted and it could hamper any deals?

Relaying what I read regarding that thread - both the academic guy & the debt restructuring guy seem to think that it may be a blessing in disguise having this Haitong institution now involved - given their interests and needs vs. DY

It's a good piece.
It does appear to be slightly more positive as it takes the emotion out of the sale (i.e. Dai doing whatever he thinks is best for him)
At least with the bank making decisions, it would be more transactional. I would suggest they would see that some money back is better than getting nothing.
Under the cover of EFL new owners could surely not be any worse, could they?
I quite like the idea of the loathsome toad being locked up too.

Put his show trial on a big screen in the stadium and sell tickets. Guaranteed revenue for the club.

[royalstevep68]

What an absolute mess. This couldn’t get any worse. Either the bank accepts the sale and loss or the debt is transferred to Dai. Can’t see any other option being viable, unless Dai sells the club for free with the debt, which might attract some.

Seems Dai is in massive debt then, wow maybe £1 billion , eek


EFL also have alot to answer for too.

[Royals and Racers]

What an absolute mess. This couldn’t get any worse. Either the bank accepts the sale and loss or the debt is transferred to Dai. Can’t see any other option being viable, unless Dai sells the club for free with the debt, which might attract some.

Seems Dai is in massive debt then, wow maybe £1 billion , eek


EFL also have alot to answer for too.

It’s about time RFC came clean on what the situation is with Dai’s financial situation - some hope !!!

[Snowflake Royal]

EFL also have alot to answer for too.

For what? None of this has anything to do with them

[Sutekh]

EFL also have alot to answer for too.

For what? None of this has anything to do with them

The FL are a little culpable in this mess as the PL had rejected Dai's bid for Hull because of his involvement

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.

[Crusader Royal]

What an absolute mess. This couldn’t get any worse. Either the bank accepts the sale and loss or the debt is transferred to Dai. Can’t see any other option being viable, unless Dai sells the club for free with the debt, which might attract some.

Seems Dai is in massive debt then, wow maybe £1 billion , eek


EFL also have alot to answer for too.

It’s about time RFC came clean on what the situation is with Dai’s financial situation - some hope !!!

RFC are Dai, there is no one to ‘come clean’. The only people at the club are the poor so and sos who are work8ng hard to keep things afloat. I doubt they know anymore than we do.

[Royals and Racers]

What an absolute mess. This couldn’t get any worse. Either the bank accepts the sale and loss or the debt is transferred to Dai. Can’t see any other option being viable, unless Dai sells the club for free with the debt, which might attract some.

Seems Dai is in massive debt then, wow maybe £1 billion , eek


EFL also have alot to answer for too.

It’s about time RFC came clean on what the situation is with Dai’s financial situation - some hope !!!

RFC are Dai, there is no one to ‘come clean’. The only people at the club are the poor so and sos who are work8ng hard to keep things afloat. I doubt they know anymore than we do.

We have a secretary Graham Odell he must know a lot.

[Snowflake Royal]

EFL also have alot to answer for too.

For what? None of this has anything to do with them

The FL are a little culpable in this mess as the PL had rejected Dai's bid for Hull because of his involvement

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.

This has been covered time and time again. It was a different bid. The PL and FL are separate organisations that can't data share in detail on this stuff. They have different requirements.

There was no issue at the time he bought us. None of the issues we've experienced have been about his suitability to buy us based on those rules.

He had the money at the time he bought us.

The FL can't predict he's going to run us badly and puss his money up the wall, be a loon and have dodgy financials years later.

[Brogue]

i don't like Dai

[Crusader Royal]

It’s about time RFC came clean on what the situation is with Dai’s financial situation - some hope !!!

RFC are Dai, there is no one to ‘come clean’. The only people at the club are the poor so and sos who are work8ng hard to keep things afloat. I doubt they know anymore than we do.

We have a secretary Graham Odell he must know a lot.

He’s the finance chap isn’t he ?
He’s still not going to be able to come out and ‘come clean’
Not sure who you think ‘RFC’ is terms of making public statements.

[Snowflake Royal]

No I'm sure someone at the club, currently employed by Dai, is going to publish a detailed breakdown of the club's commerically sensitive financial information and Dai's personal financial records and legal travails any moment now, so a few Reading fans can have the satisfaction of knowing what's going behind the scenes at a private commercial entity.

[Royals and Racers]

They could publish the overdue accounts for a start.

[katweslowski]

i don't like Dai

He's alright when you get to know him, just don't lend him any money

[RoyalBlue]

RFC are Dai, there is no one to ‘come clean’. The only people at the club are the poor so and sos who are work8ng hard to keep things afloat. I doubt they know anymore than we do.

We have a secretary Graham Odell he must know a lot.

He’s the finance chap isn’t he ?
He’s still not going to be able to come out and ‘come clean’
.

However, he has a legal and professional duty to come clean to the authorities if he is/becomes aware of any irregularities/dubious practices.

[Orion1871]

We have a secretary Graham Odell he must know a lot.

He’s the finance chap isn’t he ?
He’s still not going to be able to come out and ‘come clean’
.

However, he has a legal and professional duty to come clean to the authorities if he is/becomes aware of any irregularities/dubious practices.

Not unless Ian tells him he can.