CONFRIMED: Latest rumours Confrimed as Unconfrimed

[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.

[WestYorksRoyal]

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.

Do we know if the bank have a charge over the shares in the club too? If it's just the SCL by itself, I don't see how that improves anything. The power to make things complicated and veto, but not the power to take things out of Dai's hands.

[Brogue]

The US-Saudi consortium renew interest if the current deal falls through according to James at the chronic

[Crusader Royal]

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.

Do we know if the bank have a charge over the shares in the club too? If it's just the SCL by itself, I don't see how that improves anything. The power to make things complicated and veto, but not the power to take things out of Dai's hands.

Not sure how they can have when Redwood had a charge over the club shares and Bearwood (allegedly). You can’t use the same asset as collateral repeatedly surely ?

[Royal Rother]

I wonder if it would get more or less complicated if / when Dai dies.

If the shite he is in back home is as deep as suggested, this seems like a very possible outcome.

[Lower West]

They could publish the overdue accounts for a start.

Far more complex than it sounds. The club is teetering on the edge currently.

[Lower West]

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.

Do we know if the bank have a charge over the shares in the club too? If it's just the SCL by itself, I don't see how that improves anything. The power to make things complicated and veto, but not the power to take things out of Dai's hands.

Not sure how they can have when Redwood had a charge over the club shares and Bearwood (allegedly). You can’t use the same asset as collateral repeatedly surely ?

Bearwood is owned by a separate company to the one that owns the stadium.

[Lower West]

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.

The club itself is clean and above board. What lies behind in Dai's web is where the issues lie. In particular the company in the Virgin Islands. Which has no obligation to publish anything at all. Hidden behind a solid wall of secrecy.

[Hound]

I wonder if it would get more or less complicated if / when Dai dies.

If the shite he is in back home is as deep as suggested, this seems like a very possible outcome.

It’s no wonder he’s difficult to get hold of

[Snowflake Royal]

I wonder if it would get more or less complicated if / when Dai dies.

If the shite he is in back home is as deep as suggested, this seems like a very possible outcome.

How about this. Dai is convicted of fraud and treason in China and the Chinese state seizes all his assets - we become owned by a foreign state, which I believe the FL doesn’t permit.

[Extended-Phenotype]

I wonder if it would get more or less complicated if / when Dai dies.

If the shite he is in back home is as deep as suggested, this seems like a very possible outcome.

How about this. Dai is convicted of fraud and treason in China and the Chinese state seizes all his assets - we become owned by a foreign state, which I believe the FL doesn’t permit.

Pretty sure it’s allowed as people were (rightly) moaning about it not too long ago.

[Royals and Racers]

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.

The club itself is clean and above board. What lies behind in Dai's web is where the issues lie. In particular the company in the Virgin Islands. Which has no obligation to publish anything at all. Hidden behind a solid wall of secrecy.

If the club is clean and above board, then why haven’t the auditors and the club presented the accounts to the city ?

[Brogue]

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.

The club itself is clean and above board. What lies behind in Dai's web is where the issues lie. In particular the company in the Virgin Islands. Which has no obligation to publish anything at all. Hidden behind a solid wall of secrecy.

If the club is clean and above board, then why haven’t the auditors and the club presented the accounts to the city ?

In the middle of a takeover? For every chancer to come in and low ball. I can definitely see why they haven’t published them.