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

[RoyalBlue]

7:25
https://youtu.be/7KOknHOA9VE?si=CFd9RAyxXx451wI1

What an absolute bozo that man is

I think he should consider changing his legal advisors - absolutely ludicrous claims and assertions about the prospects of winning. I bet they wouldn't have been prepared to launch a lawsuit on a no win, no fee basis!

[Royalwaster]

Interesting* article on German team Schalke on the BBC - saw some similarities to Reading. They were once in their top league (unlike us even competing in the Champions League) but now they are in Bundesliga 2 - the German second tier - close to relegation and have not sensibly sold their Academy products, 'lost' their millionaire owner, etc.

Schalke's fall to the edge of existence

Article in Guardian about Everton also has some alarming parallels.

[Winston Biscuit]

https://www.readingfc.co.uk/news/2024/may/15/Club-Statement-FA-Regulations/

[tidus_mi2]

https://www.readingfc.co.uk/news/2024/may/15/Club-Statement-FA-Regulations/

Relates to Olise's agent and a 10% sell on fee going to him.

[traff]

https://www.readingfc.co.uk/news/2024/may/15/Club-Statement-FA-Regulations/

Agent entered into an agreement that would see him eligible for a 10 percent cut of Olise’s future transfer fee, which is prohibited by the FA’s rules. Only clubs and players, not agents, can benefit from such an agreement. No payment was ever made. He starts a suspension in October so can still benefit from the summer transfer window. Expect Olise to move on from Palace this summer then!


Unsure if Howes' suspension will affect the sale as the first 6 months only seem to relate to payer sales.

Will this saga ever end???

[WestYorksRoyal]

Seems very harsh. We developed Olise, if an agent is strong arming us to push the laws or lose him for free, surely he is the one who has the book thrown at him? Imagine how much suffering could have been avoided at many clubs if Kia had simply been banned for his role in Mascherano and Tevez.

Who knows what this means for the takeover and the club's future - the statement says it has no impact so hopefully we can take that at face value. But I can understand why we did what we did if the agent was insisting on it.

[South Coast Royal]

Just another £200,000 for the club to find.
It needs a lot more than my season ticket renewal to cover this latest tale of woe.

By the way, a bot OTT about "many years developing the player" when his early years were away at Chelsea and City.

[The Royal Forester]

https://www.readingfc.co.uk/news/2024/may/15/Club-Statement-FA-Regulations/

Agent entered into an agreement that would see him eligible for a 10 percent cut of Olise’s future transfer fee, which is prohibited by the FA’s rules. Only clubs and players, not agents, can benefit from such an agreement. No payment was ever made. He starts a suspension in October so can still benefit from the summer transfer window. Expect Olise to move on from Palace this summer then!


Unsure if Howes' suspension will affect the sale as the first 6 months only seem to relate to payer sales.

Will this saga ever end???

The club statement clearly says Howe's suspension for the first six months is contract and transfer negotiations only the following six months is all football related issues. So, let us hope the sale goes through in the next six months, then. Can't see Nigel staying around the club, or football, after the sale is agreed or should that be IF the sale is agreed, and the club is still here in twelve months time.

[Greatwesternline]

WTF did we agree to something that wasn't allowed. Clowns the lot of them.

[tidus_mi2]

WTF did we agree to something that wasn't allowed. Clowns the lot of them.

If it makes you feel any better, the same redacted documents revealed that we do in fact have a 10% sell-on for transfer profit in regards to Olise.

[SCIAG]

This probably merits a thread of its own?

By the way, a bot OTT about "many years developing the player" when his early years were away at Chelsea and City.

He was only with City for a year. With us for four.

[WestYorksRoyal]

WTF did we agree to something that wasn't allowed. Clowns the lot of them.

If it makes you feel any better, the same redacted documents revealed that we do in fact have a 10% sell-on for transfer profit in regards to Olise.

Who knows what Dai is supposedly selling the club for, but the knowledge that a £5m - £6m windfall may be coming this summer could complicate things. A clause added that the new owner needs to pass some of it on to him?

[rabidbee]

Then he should stump up the £200k now.

[Stockport Royal]

WTF did we agree to something that wasn't allowed. Clowns the lot of them.

If it makes you feel any better, the same redacted documents revealed that we do in fact have a 10% sell-on for transfer profit in regards to Olise.

60mil Olise to United
6mil for us - 200k = 5.8m profit

Happy days right, right?

[SCIAG]

WTF did we agree to something that wasn't allowed. Clowns the lot of them.

If it makes you feel any better, the same redacted documents revealed that we do in fact have a 10% sell-on for transfer profit in regards to Olise.

60mil Olise to United
6mil for us - 200k = 5.8m profit

Happy days right, right?

The sell-on is on profit, not the raw value.

£60m-£7m=£53m profit for Palace. 10% then comes to us.

So we'd get £5,3m, which becomes £5.1m if you take out the fine.

[SCIAG]

WTF did we agree to something that wasn't allowed. Clowns the lot of them.

If it makes you feel any better, the same redacted documents revealed that we do in fact have a 10% sell-on for transfer profit in regards to Olise.

Who knows what Dai is supposedly selling the club for, but the knowledge that a £5m - £6m windfall may be coming this summer could complicate things. A clause added that the new owner needs to pass some of it on to him?

That doesn't "complicate" things, because Dai would already have been aware of the sell-on fee, and it's far from guaranteed Olise will actually be sold.

[Greatwesternline]

WTF did we agree to something that wasn't allowed. Clowns the lot of them.

If it makes you feel any better, the same redacted documents revealed that we do in fact have a 10% sell-on for transfer profit in regards to Olise.

Havent we heard form official sources, i.e. Howe or some other, such as Selles, that there categorically is no sell on clause?

One in the eye for the ITKs who claim there was none.

[Wycombe Royal]

It also won't affect the sale of the club as this would have already been disclosed in the due diligence, even if the penalty wasn't known.

[South Coast Royal]

This probably merits a thread of its own?

By the way, a bot OTT about "many years developing the player" when his early years were away at Chelsea and City.

He was only with City for a year. With us for four.

On checking, I see he was at Arsenal for a year as well before 7 years with Chelsea.
So he only needs Liverpool to complete a kind of top 4 set.

Unfortunately I fear that he might go to Man Utd.but , if he chooses France as his definite international side, then I think PSG might be the destination .

[WestYorksRoyal]

So almost certainly not going to ruin the sale of the club, and confirmation that we have a sell on clause. Is this actually good news?