TAKEOVER *NOT* CONFIMRED

[Hendo]

Both his other clubs went pop well after he completed the purchase of us.

Seems a lot of people don't know that or chose just to ignore it.

Doesn't help the narrative that the EFL should have stopped his takeover.

Yep, very true - choosing to ignore it to suit their argument.

[WestYorksRoyal]

Not that I'm against blame being wrongly apportioned to the EFL. The game needs better regulation, and if all they can argue is "No, we didn't have the power to stop this shit show" then it makes the point very well.

[tmesis]

Not that I'm against blame being wrongly apportioned to the EFL. The game needs better regulation, and if all they can argue is "No, we didn't have the power to stop this shit show" then it makes the point very well.

That Al-Jazeera documentary about the dodgy people behind people wanting to 'invest' in football clubs had one of the guys involved in the Zingarevich deal spelling out how easy it was to get round the attempted regulations, and how a threat of legal action against the Football League would be enough to get any deal done.

[Snowflake Royal]

It achieves nothing. We should take a leaf out of Southend's book and protest outside his mansion, or perhaps that exclusive Mayfair club he likes to be seen at.

Yes, fully agree. The protests need to be taken to the homes of the real villains in this piece - Dai Yongge and The EFL.

They certainly need reform and changes, however can you just confirm why you think the EFL are one of the real villains?

This is a guy who thought Madejski was a bad owner and should spend spend spend.

[Snowflake Royal]

As much as I don’t like the football authorities the EFL aren’t to blame for our situation. This all on Dai and his total ineptitude at running a football club and now he’s just being plain awkward.

Aren't you overlooking the fact that EFL approved Dai after EPL had rejected them and that their approval was supposedly conditional with them stating that his ownership would be subject to increased financial scrutiny? They clearly failed to undertake the latter or used shyte accountants/auditors.

Also, it is the EFL who have set up rules that punish the innocent players, employees and fans rather than the guilty owners. And their final act of incompetence is having rules that dictate that the players must be paid on time but all other employees can get screwed! IMO they are very much co-villains in this appalling saga.

I think you just fundamentally don't understand what the EFL is and how it operates. The EFL administers the rules that clubs agree upon. They are not an independent body 'policing' the league.

It's been repeated again and again that the EFL have never been given permission by the clubs to do a proper 'fit and proper' test for new owners. All they do is check some basic requirements to do with bankruptcy and criminal convictions. Yes, they said that there would be some additional financial scrutiny, but that was never specified and it's unclear whether the existing rules gives them the rights to do anything meaningful.

Similar with the punishments for violating financial rules. These are decided upon by the clubs and everyone (including Reading) agreed upon them. The EFL are not making any decisions on types of punishment themselves. If the clubs wanted there to be a punishment for not paying staff on time then they could introduce that - but there are enough shitty owners in the league to block that proposal.

On top of this, Dai had the money to throw at the club for 5 years. Neither of his other two clubs had gone under when he bought us.

People like RB decide that the FL should have had a crystal ball to see 5 years into the future and have powers that don't exist.

They referenced failed bids for PL teams, with no understanding of why those bids failed. Or that the reasons for those failures don't automatically apply to every subsequent bid. Also ignoring that the PL is a different body that can't share its data, has resources on a completely different level to the FL and slightly different rules and criteria.

He's been told this endlessly.

[WestYorksRoyal]

Earnshaw saying on Twitter that Genevra haven't given up yet, negotiations are still ongoing and there is much frustration. But crucially they still want a deal. Amazing really given Dai is such a bad party to deal with, but I guess they're looking at the potential once he’s gone.

They could look elsewhere; WBA are currently for sale and in the promotion mix if you can afford it. But I guess that's higher stakes, as they will cost triple what we do and if they miss out this season you have a FFP situation to deal with which means you're unlikely to push on next season.

[Snowflake Royal]

Earnshaw saying on Twitter that Genevra haven't given up yet, negotiations are still ongoing and there is much frustration. But crucially they still want a deal. Amazing really given Dai is such a bad party to deal with, but I guess they're looking at the potential once he’s gone.

They could look elsewhere; WBA are currently for sale and in the promotion mix if you can afford it. But I guess that's higher stakes, as they will cost triple what we do and if they miss out this season you have a FFP situation to deal with which means you're unlikely to push on next season.

And even if they go up they're likely tò drop before you can sell for a profit.

[Ascotexgunner]

Earnshaw saying on Twitter that Genevra haven't given up yet, negotiations are still ongoing and there is much frustration. But crucially they still want a deal. Amazing really given Dai is such a bad party to deal with, but I guess they're looking at the potential once he’s gone.

They could look elsewhere; WBA are currently for sale and in the promotion mix if you can afford it. But I guess that's higher stakes, as they will cost triple what we do and if they miss out this season you have a FFP situation to deal with which means you're unlikely to push on next season.

And even if they go up they're likely tò drop before you can sell for a profit.

Didn't their oriental owner also load them with a load of loans? Something like 75mill?

[SouthDownsRoyal]

What’s going on with this bloody takeover

[From Despair To Where?]

What’s going on with this bloody takeover

The thing is, we don't need to escalate. You see, war is not the answer, for only love can conquer hate, you know we've got to find a way to bring some loving here today

[Winston Biscuit]

Christmas will soon be taking over our spirits

[blythspartan]

I’ll tell you what I’m oxf*rd impressed how just over 200 Reading fans have raised almost £6k for the Reading staff so far.

[Sutekh]

I’ll tell you what I’m oxf*rd impressed how just over 200 Reading fans have raised almost £6k for the Reading staff so far.

Yes an average of almost £30 each is pretty good going. Presume anything left in the fund will be held over for the next failure...

[SouthDownsRoyal]

I’ll tell you what I’m oxf*rd impressed how just over 200 Reading fans have raised almost £6k for the Reading staff so far.

Yes an average of almost £30 each is pretty good going. Presume anything left in the fund will be held over for the next failure...

Or put towards our tax bill

[blythspartan]

I’ll tell you what I’m oxf*rd impressed how just over 200 Reading fans have raised almost £6k for the Reading staff so far.

Yes an average of almost £30 each is pretty good going. Presume anything left in the fund will be held over for the next failure...

It does make me wonder how much money we’d be able to raise as fans to save the club, ala Pompey. I always think of Reading as an affluent town, plus the surrounding areas. If push comes to shove I wonder how many people would want to purchase a share in the club.

[MartinRdg]

I’ll tell you what I’m oxf*rd impressed how just over 200 Reading fans have raised almost £6k for the Reading staff so far.

Yes an average of almost £30 each is pretty good going. Presume anything left in the fund will be held over for the next failure...

It does make me wonder how much money we’d be able to raise as fans to save the club, ala Pompey. I always think of Reading as an affluent town, plus the surrounding areas. If push comes to shove I wonder how many people would want to purchase a share in the club.

But if 50,000 people donated £30 each that's only 1.5million and that's not much of a share in club is it?

[Snowflake Royal]

Yes an average of almost £30 each is pretty good going. Presume anything left in the fund will be held over for the next failure...

It does make me wonder how much money we’d be able to raise as fans to save the club, ala Pompey. I always think of Reading as an affluent town, plus the surrounding areas. If push comes to shove I wonder how many people would want to purchase a share in the club.

But if 50,000 people donated £30 each that's only 1.5million and that's not much of a share in club is it?

I think you're overinflating the number of contributors and under selling the acerage contribution. I think we'd do well to get 25k let alone 50k, but an average in three figures seems pretty easily doable imo. Remember, thousands of people spend almost £400 a year on a ST.

By the time it came to fans purchasing, the cost isn't going to far into 7 figures. We'd be a L2 club, for a start. More likely it would be for a phoenix club.

[Brogue]

I’ll tell you what I’m oxf*rd impressed how just over 200 Reading fans have raised almost £6k for the Reading staff so far.

Yes an average of almost £30 each is pretty good going. Presume anything left in the fund will be held over for the next failure...

Star put in £1000

[blythspartan]

I’ll tell you what I’m oxf*rd impressed how just over 200 Reading fans have raised almost £6k for the Reading staff so far.

Yes an average of almost £30 each is pretty good going. Presume anything left in the fund will be held over for the next failure...

Star put in £1000

If it was a case of saving the club like Pompey fans I’d happily pay up to £5k. I did contribute to the staff Christmas fund, but not much.

[tmesis]

It does make me wonder how much money we’d be able to raise as fans to save the club, ala Pompey. I always think of Reading as an affluent town, plus the surrounding areas. If push comes to shove I wonder how many people would want to purchase a share in the club.

But if 50,000 people donated £30 each that's only 1.5million and that's not much of a share in club is it?

I think you're overinflating the number of contributors and under selling the acerage contribution. I think we'd do well to get 25k let alone 50k, but an average in three figures seems pretty easily doable imo. Remember, thousands of people spend almost £400 a year on a ST.

By the time it came to fans purchasing, the cost isn't going to far into 7 figures. We'd be a L2 club, for a start. More likely it would be for a phoenix club.

Portsmouth fans raised close to £3 million, but it still needed extra investment to actually buy the club.

I've not idea what it would cost to buy Reading. At the moment it's not remotely possible, but if the club went into administration it'd be significantly less than now.

Ownership issues around the stadium and the training ground might complicate things, for opposite reasons - one being a drain on resources, and one being a valued asset.