More Bad News: Club And EFL Issue Statements

16 June 2023
By Hob Nob Anyone?

With discontent growing within the fan base Reading Football Club issued an update from CEO Dayong Pang yesterday. While it was good to finally get something from the top level of the club, the statement lacked any real information and would have done very little to settle any nerves. Reading between the lines it suggests that Reading have failed to secure a new manager and club owner Yongge Dai may be the one ultimately preventing an appointment. Whether it is lack of funds or something else isn't known, however the statement is an attempt by the club to buy a bit of time. Don't expect a resolution any time soon.

With rumours flying around that the club had failed to settle loan player payments for last season the EFL have stepped up with an official statement today. Yesterday the EFL confirmed that Reading had not only failed to pay loan wages but had breached profit and sustainability rules. This means another transfer embargo for the club. The squad is remarkably slimline as we head to the new season. Do not expect new signings until the loan wages dispute is settled, but we can't rule out an extended embargo or even a further points deduction. The non-payment of loan wages could also impact our ability to attract or sign loan players even without an embargo. We may well be relying on a large number of academy players to make the jump directly into the first team as pre-season gets underway.

Today's EFL statement is not good reading:

Reading Football Club has been charged with multiple breaches of EFL Regulations.

The charges relate to the Club failing to meet their obligations to pay its players' wages on time and in full on or around 31 October 2022, 30 November 2022 and 28 April 2023.

Yongge Dai, the Club's owner, has also been charged with causing the Club to be in breach of EFL Regulations despite his commitment to fund the cash requirements of the Club.

The Club and Mr Dai have until 4pm on Thursday 29 June 2023 to respond to the charges.

Yesterday's club statement felt like a very lacklustre attempt to appease fans. It talks of correcting "the mistakes that were made many years ago". However, it is becoming clear that mistakes are continuing to be made. Right now the future of the club does not feel certain as Reading continue to limp along in the wrong direction. Reading Football Club is in really big trouble.

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