TAKEOVER *NOT* CONFIMRED

[tmesis]

I shall keep going to games while there’s a club to support, but I don’t believe we’ll finish the season. I think we’ll end up being liquidated, as I can’t even see Dai putting us into administration. It’s truly horrific, but a Phoenix club could be fun. AFC Reading.

AFC Reading vs Reading City would be fun

I'd hate the name AFC Reading. Just because the reformed Wimbledon called themselves that doesn't mean every other reformed club has to.

I appreciate that might not be the most important issue though. The lack of any half-decent ground, unless we have the horror of paying rent to Dai, makes the prospect of getting back to the league remote without a new sugar daddy owner.

[WestYorksRoyal]

Is the outstanding EFL charge against Dai a concern? Conventional wisdom is all they can do is impose a fine which they then cannot enforce. But could they say prove that you have the funding to see out the season or face expulsion? That is what ultimately did for Bury.

Then their fans split between those buying the original club for peanuts and those who started AFC Bury. I like to think we'd go down the AFC route given nobody would do business with Dai.

[Stranded]

This is probably all cobblers on Twitter, everyone on there is getting more and more stirred up by that quote from Hodder seeking abandonment of games etc with others now claiming Dai wants to sell the ground to Ashley.

Quite honestly the only person at the club who likely knows what's going on with this day to day is Pang who is never there. Maybe some accountants too who would have signed NDA's

I doubt if Bowen is briefed more than once a week.

There is a faction on Twitter who will just go on and on about getting a game abandoned but will never do anything about it.

[Stranded]

Also heard Genevra are now looking at WBA. Understand no nearer a deal. Admin beckons.

If they are keen to get into football to make a return then WBA are a much better bet. Likely cost more but more chance of getting to PL.

[Mr Sitter]

I’m open minded on what sort of protest should happen next but can someone in favour of trying to get a match abandoned just outline what this might achieve please. I’m not being flippant just asking a genuine question.

[WestYorksRoyal]

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.

[Elm Park Kid]

I’m open minded on what sort of protest should happen next but can someone in favour of trying to get a match abandoned just outline what this might achieve please. I’m not being flippant just asking a genuine question.

It might convince Dai that the longer he holds onto the club the lower the value he's going to get when selling.

I know a lot of stuff is unclear at the moment, but one assumption is that Dai is still convinced that he should be getting more money back than what he's currently being offered. That if he just holds on as long as possible that the club will turn things around and Dai would be looking at a £50m return rather than £25m. Forcing match abandonments would put his entire investment at risk.

That's assuming that that is Dai's motivation. He might also just be a complete dick who would rather the club folds than sell for a 'dishonourable' amount.

[Lower West]

I know a lot of stuff is unclear at the moment, but one assumption is that Dai is still convinced that he should be getting more money back than what he's currently being offered. That if he just holds on as long as possible that the club will turn things around and Dai would be looking at a £50m return rather than £25m. Forcing match abandonments would put his entire investment at risk.

I'd assume that beneath the surface Dai's personal and business situation in connection with the club is far more complex. As I've posted previously. Bearwood is subject to a legal charge as follows for example

Persons entitled
Bangkok Bank Public Company Limited
Brief description
F/H property k/a land and buildings k/a part of the bearwood estate, mole road, wokingham, berkshire t/no BK413386.
Contains fixed charge.
Contains floating charge.
Contains negative pledge.

Not just a question of Dai accepting a cheque and walking away.

[blythspartan]

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.

I’d be up for this, but I am not sure how often he stays in the UK.

Part of me thinks let’s get as many home games postponed as possible and go for kill or cure. I feel we’re slowly dying and bringing it to a head might just force his hand to sell. We’re stuck between a rock and a hard place and I am sure everyone’s got an opinion, but we’re relying on Dai doing the right thing. Will he ever do that?

[tmesis]

I'd assume that beneath the surface Dai's personal and business situation in connection with the club is far more complex. As I've posted previously. Bearwood is subject to a legal charge as follows for example

Persons entitled
Bangkok Bank Public Company Limited
Brief description
F/H property k/a land and buildings k/a part of the bearwood estate, mole road, wokingham, berkshire t/no BK413386.
Contains fixed charge.
Contains floating charge.
Contains negative pledge.

Not just a question of Dai accepting a cheque and walking away.

What does all that mean exactly?

[Readingfanman]

I know a lot of stuff is unclear at the moment, but one assumption is that Dai is still convinced that he should be getting more money back than what he's currently being offered. That if he just holds on as long as possible that the club will turn things around and Dai would be looking at a £50m return rather than £25m. Forcing match abandonments would put his entire investment at risk.

I'd assume that beneath the surface Dai's personal and business situation in connection with the club is far more complex. As I've posted previously. Bearwood is subject to a legal charge as follows for example

Persons entitled
Bangkok Bank Public Company Limited
Brief description
F/H property k/a land and buildings k/a part of the bearwood estate, mole road, wokingham, berkshire t/no BK413386.
Contains fixed charge.
Contains floating charge.
Contains negative pledge.

Not just a question of Dai accepting a cheque and walking away.

Was this charge not the one that was cleared a few weeks ago?

[Stranded]

I know a lot of stuff is unclear at the moment, but one assumption is that Dai is still convinced that he should be getting more money back than what he's currently being offered. That if he just holds on as long as possible that the club will turn things around and Dai would be looking at a £50m return rather than £25m. Forcing match abandonments would put his entire investment at risk.

I'd assume that beneath the surface Dai's personal and business situation in connection with the club is far more complex. As I've posted previously. Bearwood is subject to a legal charge as follows for example

Persons entitled
Bangkok Bank Public Company Limited
Brief description
F/H property k/a land and buildings k/a part of the bearwood estate, mole road, wokingham, berkshire t/no BK413386.
Contains fixed charge.
Contains floating charge.
Contains negative pledge.

Not just a question of Dai accepting a cheque and walking away.

Was this charge not the one that was cleared a few weeks ago?

Yes, the charge on Bearwood was satisfied on the 17th November and anyway that charge predates Dai. Was created in 2015.

[WestYorksRoyal]

Presume this is all just a bit of willy waving on both sides and there is still a reasonable chance of the deal happening.

[Stranded]

Presume this is all just a bit of willy waving on both sides and there is still a reasonable chance of the deal happening.

It all feels like brinkmanship. Reports of "new demands" but nobody mentioning what those are suggest that.

I also have no doubt that within days of it being announced that one party was close to exclusivity, that someone leaks to Alan Nixon that Ashley only actually wants the stadium, not the club - is a move to try and disrupt the sale process in order to allow Ashley to either get the stadium or force Genevra out of the way so he is the only show in town. You have to question what Ashley would get out of owning a stadium with a financially stricken club as the only viable tenant.

Empty stadium on that land, is worth close to nothing, especially with the additional hurdles to redevlopment/sale of land for non-stadium purposes that there are now.

[Brogue]

Presume this is all just a bit of willy waving on both sides and there is still a reasonable chance of the deal happening.

It all feels like brinkmanship. Reports of "new demands" but nobody mentioning what those are suggest that.

I also have no doubt that within days of it being announced that one party was close to exclusivity, that someone leaks to Alan Nixon that Ashley only actually wants the stadium, not the club - is a move to try and disrupt the sale process in order to allow Ashley to either get the stadium or force Genevra out of the way so he is the only show in town. You have to question what Ashley would get out of owning a stadium with a financially stricken club as the only viable tenant.

Empty stadium on that land, is worth close to nothing, especially with the additional hurdles to redevlopment/sale of land for non-stadium purposes that there are now.

maybe he will turn it into a music venue

[Hendo]

Presume this is all just a bit of willy waving on both sides and there is still a reasonable chance of the deal happening.

It all feels like brinkmanship. Reports of "new demands" but nobody mentioning what those are suggest that.

I also have no doubt that within days of it being announced that one party was close to exclusivity, that someone leaks to Alan Nixon that Ashley only actually wants the stadium, not the club - is a move to try and disrupt the sale process in order to allow Ashley to either get the stadium or force Genevra out of the way so he is the only show in town. You have to question what Ashley would get out of owning a stadium with a financially stricken club as the only viable tenant.

Empty stadium on that land, is worth close to nothing, especially with the additional hurdles to redevlopment/sale of land for non-stadium purposes that there are now.

maybe he will turn it into a music venue

Ice rink.

[Silver Fox]

Monorail hub

[Schards#2]

Monorail hub

You would hope it would be built quicker than Green Park Station!

To make a serious point, aren't the actions of the council specifically designed to make the stadium site essentially worthless without Reading FC as a tenant?

[Stranded]

Monorail hub

You would hope it would be built quicker than Green Park Station!

To make a serious point, aren't the actions of the council specifically designed to make the stadium site essentially worthless without Reading FC as a tenant?

Yes and no.

They make it harder to just sell the stadium - so if Ashley really just wants the stadium, he can agree a price etc but by law there is now a 6 month moratorium that states that an approved local group have something like 30 days to announce they wish to buy and can look to raise the funds to buy the stadium in that 6 months. I believe (but may be wrong) if that group can find the sums required, it should be sold to them. Naturally, if the stadium were to be sold as part of a wider sale of the club and returned to club ownership then the process would be much quicker.

It naturally doesn't stop the stadium being sold to become the Monorail Hub Reading desperately needs but any sale would be delayed minimum 30 days, maximum 6 months and then planning permission would need to be granted and no guarantee that will happen.

[WestYorksRoyal]

Heard a few noises on Twitter too that this is the only bid remaining. Others have been put off. If this falls through, presumably all parties are so exasperated with Dai's behaviour that they take a break and potentially revisit a lower bid after everythings gets worse (which it definitely will).