Will we exist as a club 1 year from now?

[Loafer]

Will we have a club soon?

Everything seems to point to us going bust and having to start again

I was right about being relegated 7 years ago, and I hope we do not go down again, but getting really worried now about everything

[Stranded]

Asked me a week ago, I would say there was a stronger chance than this.

It may get worse before it gets better but there will still be a Reading FC next year.

[Loafer]

Asked me a week ago, I would say there was a stronger chance than this.

It may get worse before it gets better but there will still be a Reading FC next year.

I am getting more and more worried every time something new happens

[Sutekh]

[Stranded]

Asked me a week ago, I would say there was a stronger chance than this.

It may get worse before it gets better but there will still be a Reading FC next year.

I am getting more and more worried every time something new happens

Given we have just announced 2 new deals and an Academy upgrade, things, on the surface at least, look more positive.

Could naturally all be a dead cat but hey ho.

[Dirk Gently]

Yes, but I completely expect us to have gone into and out of administration, and so the owner is unlikely to be the same as it currently is.

I also think administration is the best hope the club has of long-term survival right now.

[Snowflake Royal]

Yes, but I completely expect us to have gone into and out of administration, and so the owner is unlikely to be the same as it currently is.

I also think administration is the best hope the club has of long-term survival right now.

Pessimism leads me think we'll limp on with the same owner screwing things up for a goodly while yet.

[Loafer]

Yes, but I completely expect us to have gone into and out of administration, and so the owner is unlikely to be the same as it currently is.

I also think administration is the best hope the club has of long-term survival right now.

why do you think a new owner would be different from the last few awful ones?

[Elm Park Kid]

It would seem that there's a genuine issue with Dai's finances - so, either he fixes that, sells up or we go into administration and get bought.

Given Dai's track record my expectation is the last of those.

Almost 0% chance that we fold as a club.

[blythspartan]

I’m sure it’ll exist for many years yet. It’ll certainly outlive me.

Also, when Dai becomes the model owner IR will grow to love him, lol.

[tmesis]

I also think administration is the best hope the club has of long-term survival right now.

If the debt is almost all to Dai himself, what would be the point of him putting the club into administration?

[Snowflake Royal]

I also think administration is the best hope the club has of long-term survival right now.

If the debt is almost all to Dai himself, what would be the point of him putting the club into administration?

Well we've just paid the players late 3 times in about 6 months and got a winding up order from HMRC, so while 6 weeks ago I'd have said the same thing, it's looking increasingly likely some of the debt will start building up elsewhere.

[Dirk Gently]

Yes, but I completely expect us to have gone into and out of administration, and so the owner is unlikely to be the same as it currently is.

I also think administration is the best hope the club has of long-term survival right now.

why do you think a new owner would be different from the last few awful ones?

I don't, if it's just another Thom, Dai or Hendrick.

But they might conceivably not be as bad, and administration might get rid of the debt that hangs on the club like a millstone.

[Dirk Gently]

I also think administration is the best hope the club has of long-term survival right now.

If the debt is almost all to Dai himself, what would be the point of him putting the club into administration?

As part of the process of getting rid of it.

The debt is never, ever going to be paid off - no one will buy the club unless he waives it. I'd hope he recognises that, so he might as well write it off.

But, if he puts the club into administration, he might get something of it back as the major creditor. Even if it's 1p in the pound from a new buyer, that's a better result for him than just walking away and getting nothing from it - plus he has the benefit of no longer having to put his hand in his pocket to pay the wages every month, which is obviously something he finds difficult/unpleasant.

So one of the best possible results from him if he's lost interest - as I'm convinced he has - is to put the club into administration and get whatever he can from it, which will be more than he's realistically likely to get any other way.

[Brogue]

I also think administration is the best hope the club has of long-term survival right now.

If the debt is almost all to Dai himself, what would be the point of him putting the club into administration?

As part of the process of getting rid of it.

The debt is never, ever going to be paid off - no one will buy the club unless he waives it. I'd hope he recognises that, so he might as well write it off.

But, if he puts the club into administration, he might get something of it back as the major creditor. Even if it's 1p in the pound from a new buyer, that's a better result for him than just walking away and getting nothing from it - plus he has the benefit of no longer having to put his hand in his pocket to pay the wages every month, which is obviously something he finds difficult/unpleasant.

So one of the best possible results from him if he's lost interest - as I'm convinced he has - is to put the club into administration and get whatever he can from it, which will be more than he's realistically likely to get any other way.

or he just sells the club he will get more from selling it than putting it into admin

[Dirk Gently]

If the debt is almost all to Dai himself, what would be the point of him putting the club into administration?

As part of the process of getting rid of it.

The debt is never, ever going to be paid off - no one will buy the club unless he waives it. I'd hope he recognises that, so he might as well write it off.

But, if he puts the club into administration, he might get something of it back as the major creditor. Even if it's 1p in the pound from a new buyer, that's a better result for him than just walking away and getting nothing from it - plus he has the benefit of no longer having to put his hand in his pocket to pay the wages every month, which is obviously something he finds difficult/unpleasant.

So one of the best possible results from him if he's lost interest - as I'm convinced he has - is to put the club into administration and get whatever he can from it, which will be more than he's realistically likely to get any other way.

or he just sells the club he will get more from selling it than putting it into admin

Assuming he can find a buyer...

[Mid Sussex Royal]

Twitter says no

[Snowflake Royal]

As part of the process of getting rid of it.

The debt is never, ever going to be paid off - no one will buy the club unless he waives it. I'd hope he recognises that, so he might as well write it off.

But, if he puts the club into administration, he might get something of it back as the major creditor. Even if it's 1p in the pound from a new buyer, that's a better result for him than just walking away and getting nothing from it - plus he has the benefit of no longer having to put his hand in his pocket to pay the wages every month, which is obviously something he finds difficult/unpleasant.

So one of the best possible results from him if he's lost interest - as I'm convinced he has - is to put the club into administration and get whatever he can from it, which will be more than he's realistically likely to get any other way.

or he just sells the club he will get more from selling it than putting it into admin

Assuming he can find a buyer...

He'd have to to get anything from going into administration. Only difference is the administrators would also need to be paid.

[Franchise FC]

Yes, but I completely expect us to have gone into and out of administration, and so the owner is unlikely to be the same as it currently is.

I also think administration is the best hope the club has of long-term survival right now.

I’ll ask again, given that the debt is ‘owned’ by Dai and administration would serve to simply reduce his investment value still further, what makes anyone think he would put the club into administration ?
What would he gain ?

[Dirk Gently]

Yes, but I completely expect us to have gone into and out of administration, and so the owner is unlikely to be the same as it currently is.

I also think administration is the best hope the club has of long-term survival right now.

I’ll ask again, given that the debt is ‘owned’ by Dai and administration would serve to simply reduce his investment value still further, what makes anyone think he would put the club into administration ?
What would he gain ?

The Club is unsaleable with the current level of debt - no-one is going to buy it for £200M or so.

He surely recognises the above and that the debt that is owed to him (on paper) will never be repaid.

Regardless of paper debt, the football club still needs regular cash injections, so keeping the club requires him to spend money and increase the debt.

Assuming he has written off that debt, on the understanding that it's spend, it's lost and it'll never be recovered whatever happens, he has three options :
1. Sell the club, without any debt
2. Carry on bankrolling the club
3. Walk away because he's lost interest.

1. Depends on him getting a buyer, and he may well have trouble with this, or it may well be too much grief and hassle for him. All the time he's looking for a buyer he's still having to bankroll the club.
2. No idea if he wants to do this, but current experience shows that if he is doing this he's doing it in a very half-assed, tardy way which suggests a certain level of disinterest to me.
3. He has a track record of doing this, and if he does stop paying the bills, then the creditors will sue and put the club into administration.

To answer the question, if he's had enough and wants out, and if he's written off the club as a lost cause (which he can afford to do) then walking away (so it goes into administration) is a far simpler thing for him than all the hassle of trying to find a buyer. The money is lost either way, but he stops having to bankroll it and is shot of it so much more quickly.

If you're so super-rich that you can afford to write off debts of £200M, you're probably not going to spend time and effort trying to get the odd £5M or £10M for it - losing £200M and losing £190M is all the same to someone with his level of wealth.