| Reading FC ownership Saga 17:20 - Mar 21 with 1963 views | BAWHoops |
Another twist
https://www.efl.com/news/2025/march/21/efl-statement--reading-fc-and-mr-dai-yong
Following its disclosure in open court earlier today, the League can confirm that Mr Yongge has been recently disqualified under the EFL’s Owners’ and Directors’ Test.
The disqualification requires Mr Yongge to divest his interests in the Club, and in the event that he fails to do so within the agreed timeframe, the League will consider all options available within its regulations to bring the matter to a conclusion.
The League continues to work closely with Reading FC to progress a sale of the Club at the earliest opportunity, in order to end the current uncertainty surrounding its future for its staff, supporters and wider community. |  |
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| Reading FC ownership Saga on 17:32 - Mar 21 with 1912 views | Lblock |
They won't go to the wall - there are interested parties - however maybe it has to get even worse for them before it gets better.
I have no love for them at all and that poxy ground could be turned into another M4 services for all I really care but... there for the grace of God and all that.
What next? Surely Admin again and this time a 24 point deduction which puts them in serious danger but not bottom. |  |
| Cherish and enjoy life.... this ain't no dress rehearsal |
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| Reading FC ownership Saga on 17:48 - Mar 21 with 1860 views | GaryHaddock |
Reading, for 90% of its history, has been League One or lower.
They are not a sleeping giant in a big city with a strong football culture like Newcastle, Edinburgh, or Bristol. They had no business plowing £1b into the club and buying Andy Carroll.
The only thing going for them was a centre of town stadium which a small hardcore following, and they fcked it off for a hard to get to IKEA superstore nestled next to a motorway.
See also Bournemouth, Luton, Milton Keynes, Darlington, and Coventry (although I appreciate the last one are doing well atm).
For anyone outside the top 10-15, in most cases trying to be anything other than a community football club, with the occasional day outs, premiership seasons, and perhaps a foray into Europe, will be a unsustainable disaster.
Just enjoy the things that make your club unique, support your club, and live on the hope. [Post edited 21 Mar 18:46]
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| Reading FC ownership Saga on 18:15 - Mar 21 with 1751 views | stowmarketrange |
| Reading FC ownership Saga on 17:48 - Mar 21 by GaryHaddock |
Reading, for 90% of its history, has been League One or lower.
They are not a sleeping giant in a big city with a strong football culture like Newcastle, Edinburgh, or Bristol. They had no business plowing £1b into the club and buying Andy Carroll.
The only thing going for them was a centre of town stadium which a small hardcore following, and they fcked it off for a hard to get to IKEA superstore nestled next to a motorway.
See also Bournemouth, Luton, Milton Keynes, Darlington, and Coventry (although I appreciate the last one are doing well atm).
For anyone outside the top 10-15, in most cases trying to be anything other than a community football club, with the occasional day outs, premiership seasons, and perhaps a foray into Europe, will be a unsustainable disaster.
Just enjoy the things that make your club unique, support your club, and live on the hope. [Post edited 21 Mar 18:46]
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Like your kit,your nickname and your songs you mean.  |  | | |
| Reading FC ownership Saga on 18:54 - Mar 21 with 1639 views | sdm1508 |
I think the biggest question that needs to be asked is, how was he allowed to own a club in the first place. All parties who approved that need to be held accountable too |  | | |
| Reading FC ownership Saga (n/t) on 19:38 - Mar 21 with 1520 views | GaryHaddock |
[Post edited 21 Mar 19:39]
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| Reading FC ownership Saga on 08:11 - Mar 22 with 1162 views | davman |
As always with the authorities, they are playing hardball gambling on the very existence of a club. Yonge is being "forced" to sell, but even then I suspect that he doesn't have to; he can take the club to the wall by immediately stopping funding and instructing people to wind the club up.
They are still relying on the fact that a man who has ignored every single one of their instructions is now going to bend over and do what he has been stalling to do for years. I just can't see it despite this being a court ruling...
EFL utterly complicit in this.
For the multi-billion pound industry football is, I remain shocked that the authorities can't impose some definitive rules to protect football clubs. Keeping them solvent for one thing - clubs with debts > assets fall into the "not a going concern" type bracket. Maybe the law of the land allows companies to operate in arrears and therefore in debt, but maybe a condition of membership is that all funds committed need to be provided to the clubs at the time they are committed. In other words ring fence the commitments owners make so that the club can never run out of money.
Maybe that would necessitate the way clubs operate, but wouldn't that be better than chancing that they go to the wall?
It would also allow owners who want to truly "invest" and spend what they want to be able to do so without saddling the club with debt should they decide to move on or if they die.
Just shows how fragile we could be if our owners finally pull the plug... |  |
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| Reading FC ownership Saga on 09:25 - Mar 22 with 1062 views | Watford_Ranger |
Having lived not far away I can’t say they’ll be missed. Appreciate the ‘it could have been us’ argument and perhaps one day it will be but, for now, fk ‘em. | | | |
| Reading FC ownership Saga on 10:01 - Mar 22 with 966 views | francisbowles |
Like all clubs, they have some decent people who support them and are employed by them.
I hope for their sakes the club survives | | | |
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| Reading FC ownership Saga on 10:03 - Mar 22 with 960 views | themodfather |
the gift that keeps giving! as said how was he allowed to run the club in the first place? why did it take so long for efl to act? will they cop points deduction? | | | |
| Reading FC ownership Saga on 10:07 - Mar 22 with 952 views | terryb |
I know many on this site detest Reading, but I find it hard to dislike the club that showcased the talents of Robin Friday.
Until the move away from Elm Park, there weren't many in the country that had feelings, either way, about the club. Apart, that is, in supporting the fight against Robert Maxwell trying to amalgamate them with Oxford United as Thames Valley Royals. Of course, the club will be better off if Mr Yongge does find a buyer & the sooner that he & similar owners are out of football the better.
It will be a sad day for clubs outside the EFL if they are foistered with a reincarnation of Reading FC, as they would operate as a full professional club in either Southern League One (south west) or Combined Counties Premier (north), dependent on which league they were placed in.
The "new" Macclesfield are storming through the leagues with a budget higher than most National League club, having started as a professional club in the North West Counties League. This is what would happen with a "new" Reading.
So please someone, purchase Reading & keep them afloat, even if any disciplinary actions meant relegation to the NL. | | | |
| Reading FC ownership Saga on 10:17 - Mar 22 with 915 views | loftus77 |
| Reading FC ownership Saga on 10:01 - Mar 22 by francisbowles |
Like all clubs, they have some decent people who support them and are employed by them.
I hope for their sakes the club survives |
This. | | | |
| Reading FC ownership Saga on 15:35 - Mar 22 with 649 views | R_from_afar |
| Reading FC ownership Saga on 08:11 - Mar 22 by davman |
As always with the authorities, they are playing hardball gambling on the very existence of a club. Yonge is being "forced" to sell, but even then I suspect that he doesn't have to; he can take the club to the wall by immediately stopping funding and instructing people to wind the club up.
They are still relying on the fact that a man who has ignored every single one of their instructions is now going to bend over and do what he has been stalling to do for years. I just can't see it despite this being a court ruling...
EFL utterly complicit in this.
For the multi-billion pound industry football is, I remain shocked that the authorities can't impose some definitive rules to protect football clubs. Keeping them solvent for one thing - clubs with debts > assets fall into the "not a going concern" type bracket. Maybe the law of the land allows companies to operate in arrears and therefore in debt, but maybe a condition of membership is that all funds committed need to be provided to the clubs at the time they are committed. In other words ring fence the commitments owners make so that the club can never run out of money.
Maybe that would necessitate the way clubs operate, but wouldn't that be better than chancing that they go to the wall?
It would also allow owners who want to truly "invest" and spend what they want to be able to do so without saddling the club with debt should they decide to move on or if they die.
Just shows how fragile we could be if our owners finally pull the plug... |
"In other words ring fence the commitments owners make so that the club can never run out of money".
This is a good idea, but - sigh - I doubt it will ever happen. I know it's a different scenario but if you operate a mine in Canada, you are legally required to provide a (monetary) bond up front for restoring the land once your operations have ceased. This means that if you go bust, there are still funds for a cleanup. |  |
| "Things had started becoming increasingly desperate at Loftus Road but QPR have been handed a massive lifeline and the place has absolutely erupted. it's carnage. It's bedlam. It's 1-1." |
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| Reading FC ownership Saga on 18:13 - Mar 22 with 486 views | paulparker |
Couldn’t care less about Reading
Not so long back we had a client who was looking to raise about 80 million or so to buy them
I told my boss not to get excited as it wouldn’t happen |  |
| And Bowles is onside, Swinburne has come rushing out of his goal , what can Bowles do here , onto the left foot no, on to the right foot
That’s there that’s two, and that’s Bowles
Brian Moore
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