Embargos, HMRC Payment defaults, non payment of wages, the usual under Dai Wrongge

[windermereROYAL]

Sir John can`t be short of a bob or two, he has the club at heart, maybe he can chip in with a loan until the end of the season.
#clutchingatstraws.

[Lower West]

It doesn't change much really, we are reliant on Dai deciding it is in his best interest to fund the club for the last 2 months of the season.

If he doesn't do so, then we will get a bare minimum 2pt deduction, if not more. The Commission knew this when they handed down the verdict, hence no point giving us 4 off as there won't be time to go through the process of deducting more when we eventually miss some form of payment.

Goes without saying that it's in Dai's best interests to fund the club. As that will realise the best possible price.

The contrary side. Is that Dai is no longer in a position to fund the club sustainably. Having sold off non chinese assets such as the property in Australia a long time ago. As far as getting money out of China . That's no longer possible due to the ongoing litigation.

[Lower West]

Sir John can`t be short of a bob or two, he has the club at heart, maybe he can chip in with a loan until the end of the season.
#clutchingatstraws.

Be better coming in as part of the new consortium later. At the moment the club is unfortunately still sliding backwards. (Not referring to onfield results).

[South Coast Royal]

I don’t know if this has been posted already elsewhere as I am no longer a regular contributor and don’t follow that much of what is posted on here.

Supposedly the club ( or whoever is actually running things now ) has approached Crystal Palace to request a cash return for rescinding a sell-on benefit from any future sale of our ex-player.

I have no idea if such a contract clause exists but if so I can’t make up my mind whether such a desperate measure is sensible or not, I.e short term solution but forsaking a possible long term considerable bonus.

Who knows, he may never move on from Palace and a cash payment to us now might resolve a current issue.

If this is actually going on I think I feel that we have a fair chance to get enough points ON the pitch to cover any further deductions and we might look back and regret following such a path.
Also if it is going on it really does smack of desperation and being Reading ( liable to be held over a barrel) I suspect we would settle for far less than the value of such a contract clause.

Once again , even if nothing comes of this , it would be a reminder of how dire our situation is even though really we do know that already.

[WestYorksRoyal]

In terms of points deduction, it won't make any difference to whether the players agree to a wage deferral or not.

It's going to be hard to get anyone to invest in the club whilst Dai appears to be acting in bad faith.

Any idea how much Howe has involved Dai? Any risk we get a repeat of Genevra where a deal seems to be on and then all falls apart when Dai gets involved?

If no sale happens, it's the end. The EFL will ask us to prove we can survive next season, we won't be able to, goodnight.

Staying up in L1 is a means to an end of helping a deal. Without that it's a meaningless achievement.

[windermereROYAL]

STAR are seeking clarity on funding issues because there and many people coming up with ideas to raise money, bit of a tall order but if we can make a contribution however small it could have an influence.

[WestYorksRoyal]

I think we could raise quite a lot of money. It's an affluent area, SJM and other local businesses could chip in not to mention a few ex players. We may be able to pull together enough to buy an extra couple of months.

I'd want to know about control of any such fund if they started one. Ideally STAR would control it for the club to draw down from. No way I'm just giving money to the club for Dai to dip into. And I'd also want stronger assurances on the sale. What's the point of helping the club tide over if it dies in the summer anyway?

[Sanguine]

Meaning no disrespect to good intentions, but I think there is next to zero chance that the local economy could raise anything like the money needed to make a difference at RFC even for a month, nevermind the longer term.

[WestYorksRoyal]

Pompey fans raised £2.5m for their club. Why can't Reading do similar? Even £500k would probably get us over March's key obligations and buy more time for a deal until late April.

[NathStPaul]

[Greatwesternline]

Pompey fans raised £2.5m for their club. Why can't Reading do similar? Even £500k would probably get us over March's key obligations and buy more time for a deal until late April.

Pompey fans care more. Controversial take but my best man, my best mate in life is a Pompey family and through all the years I've known him and his friends, family and community, they give a lot more of a shit about their club than Reading do.

The Island mentality is a cliche but there is some truth in it. Having a proper proper rivalry with a very near big club neighbour helps too I'm sure.

[Elm Park Kid]

In terms of points deduction, it won't make any difference to whether the players agree to a wage deferral or not.

It's going to be hard to get anyone to invest in the club whilst Dai appears to be acting in bad faith.

Any idea how much Howe has involved Dai? Any risk we get a repeat of Genevra where a deal seems to be on and then all falls apart when Dai gets involved?

If no sale happens, it's the end. The EFL will ask us to prove we can survive next season, we won't be able to, goodnight.

Staying up in L1 is a means to an end of helping a deal. Without that it's a meaningless achievement.

So, my (admittedly second hand account) is that Dai really has had no involvement at all until it comes to sign off. All of the negotiations and ground work for the sale have been done solely by Howe/Bowen and others at the club. It's hard to overstate just how little communication Dai has had with the club about anything; they're just keeping their fingers crossed that he'll sign on the line if a reasonable, legitimate offer comes from someone he doesn't consider to be a rival. But no one actually knows. Dai brushed off all offers last year and there are no guarantees that he won't do the same now. He's not acting in a way that suggests he cares about money - otherwise he'd just fund the club on time.

[Greatwesternline]

Having read all these latest updates i think it's time i dipped in my pocket and sorted the club out till the end of the year....I've had my eye on the Purple Turtle kit all season, it's time to click buy.

And i think I'll stream the last few games of the season too, so there we go, the club will be circa £150 up

[Elm Park Kid]

Pompey fans raised £2.5m for their club. Why can't Reading do similar? Even £500k would probably get us over March's key obligations and buy more time for a deal until late April.

It wouldn't, from what I heard this morning it's much worse than that. And the issue is the lack of trust in Dai, you're asking average fans to raid their savings and give money to a Chinese Billionaire who doesn't want to spend his own.

I'm expecting that the club will announce something by the end of the week.

[WestYorksRoyal]

Pompey fans raised £2.5m for their club. Why can't Reading do similar? Even £500k would probably get us over March's key obligations and buy more time for a deal until late April.

It wouldn't, from what I heard this morning it's much worse than that. And the issue is the lack of trust in Dai, you're asking average fans to raid their savings and give money to a Chinese Billionaire who doesn't want to spend his own.

I'm expecting that the club will announce something by the end of the week.

Sounds pretty dire. The Directors must be getting close to wrongful trading; they can be banned from other directorships and roles in the UK if they keep trading knowing the club is insolvent, and make themselves liable to personal claims from creditors who are left out of pocket.

They have the authority to place us in administration, but it may not be possible as someone needs to agree to pay the administrators. It sure as hell won't be Dai. This comes back to whether SJM, SCL and other local business peers could club together, as administration >>>>>>>>liquidation.

[Greatwesternline]

Pompey fans raised £2.5m for their club. Why can't Reading do similar? Even £500k would probably get us over March's key obligations and buy more time for a deal until late April.

It wouldn't, from what I heard this morning it's much worse than that. And the issue is the lack of trust in Dai, you're asking average fans to raid their savings and give money to a Chinese Billionaire who doesn't want to spend his own.

I'm expecting that the club will announce something by the end of the week.

Sounds pretty dire. The Directors must be getting close to wrongful trading; they can be banned from other directorships and roles in the UK if they keep trading knowing the club is insolvent, and make themselves liable to personal claims from creditors who are left out of pocket.

They have the authority to place us in administration, but it may not be possible as someone needs to agree to pay the administrators. It sure as hell won't be Dai. This comes back to whether SJM, SCL and other local business peers could club together, as administration >>>>>>>>liquidation.

They are miles away from wrongful trading. In the summer the club could sell all its players, hire cheaper ones, and use the windfall of new season tickets and TV money to carry on trading, albeit as a much less competitive club. The only way they could be wrongful trading is if the clubs fixed costs (rent and depreciation on assets and the absolute bare minimum staff to function as a going concern) are above the minimum income they can expect next season.

With regards to paying the administrators, if a judge agrees to put Reading into administration the administrators are the first people paid out of the proceeds raised. There are companies in far worse financial situations that RFC limited who get put into administration and administrators get paid.

[PieEater]

Having read all these latest updates i think it's time i dipped in my pocket and sorted the club out till the end of the year....I've had my eye on the Purple Turtle kit all season, it's time to click buy.

And i think I'll stream the last few games of the season too, so there we go, the club will be circa £150 up

Get a larger size than you need, the neck is sized for a turtle.

[Greatwesternline]

Not even joking i just spent £137 in the online giftshop.

Do i need some flip flops this summer? Yes. Should i get them from RFC for £5? Why not?

Do i want a car sticker for £3? Hell yes.

Will i need a beach towel at some point? Why not get a RFC one for £17.

If everyone on here brings forward all their summer purchases of tat they will need at some point in the future we can pay Sam Smith's wages for a couple of hours today

[blythspartan]

I accepted a while back that the club is probably oxf*rd. I will always be prepared to donate some money to help keep the club afloat. I’d even buy my season ticket for next season knowing that it might become null and void. I appreciate a lot of fans wouldn’t want to, but I’d happily take the chance.

[Hendo]

Honestly, the most I can probably stretch to right now is a ST for next year. Struggling to justify anything else with everything else going on at the moment.

Would I like to chuck a couple of grand at the club, yeah 100%. Realistically, not possible right now.