Reading (A) match thread - Jan 13th

[valefan16]

57 minutes ago, Jacko51 said:

Could the League remove the golden share and make it difficult for the club to operate in the league then hand the golden share back to the new owners?  Probably talking rubbish. 

One suggestion could be to void their results and automatically relegate them to league two and that buys them time to restructure and hopefully get the club in new hands without the issue of potential incursions onto the pitch every home game? 

[Clyde1998]

Hi all,

I'm a Reading fan - so just wanted to update you and attempt to answer some of the points that have been made on here.

First of all, thank you for your support. I acknowledge travelling several hours and spending (in some cases) hundreds to a match that was abandoned, especially given it was caused by something that was preventable, is not something that people would be happy about.

In terms of refunds or the situation regarding what happens to the match: Reading have put out a statement stating they've yet to be given guidance from the relevant authorities as to what will happen with the match. Whether the match gets replayed or not will affect the options available to anyone who purchased a ticket.

I believe the standard procedure is to allow tickets purchased for the original match to be used for a replayed fixture should the game have not reached half-time (as in this case), with the option to get a refund (the purchaser would be required to take action). Should the game be forfeited or played behind closed doors, I believe all tickets will be refunded without having to request it.

I'm expecting the game will either be forfeited (ie. given as a 3-0 win to Port Vale) or replayed with Reading being given a three point deduction (ie. we can't benefit from the abandonment, but Port Vale aren't automatically credited). There's a chance the replayed game will be played behind closed doors - although any sanction may not affect away fans, nor be applied to any replayed match.

In regards to the club's financial situation. The club's current owner purchased the club in May 2017, with the announcement being made either during or immediately after our play-off semi-final second leg win.

For the 2016-17 season, the club posted a £4.7m profit. The club had been reducing costs following relegation from the Premier League, with 2016-17 being the final season of parachute payments; there was also the benefit of ticket money from the play-off final. The club's wages to turnover ratio was 76%.

Despite the known reduction of revenue prior to the season (turnover fell from £36.7m to £17.9m), the new owner massively increased the club's cost base: wages increased by £6.6m (to 197% of revenue) and the club went from making a net transfer profit in each of the seasons since relegation from the Premier League to a net spend of £6.8m. The net result was a £21m loss. It was in this season the stadium was sold to the owner, for £26.5m, to get around FFP limits (although this doesn't appear in the profit and loss statement from what I can see).

One of the transfers that summer became emblematic of Dai's ownership: the £7m signing of Sone Aluko. At a time the club had two first team strikers and had refused to sign a £5m striker earlier in the transfer window, a sixth winger was bought for £7m (see note 1) - who was of the same broad standard as our other wingers. This was a signing criticised at the time and was a factor in our then Director of Football resigning.

The 2018-19 season saw the club's wage costs increase again, by another £5.4m to £40.7m (198% of revenue); £3.5m (net) was spent on players. A loss of £30.1m was made.

2019-20, which was partially affected by Covid, saw wages drop slightly but a fall in revenue saw wages to turnover reach 216%. A net £7.6m was spent on transfers - including two big signings immediately following the club exiting a 'soft' transfer embargo due to FFP. A £42m loss was recorded.

The full-Covid season of 2020-21 obviously saw a further drop in revenue, and, despite a drop in wages to £32.3m, the wages to turnover ratio was now at 234%. There was a net £7.6m in transfer fees leaving the club (most of these appear to be from transfers from previous seasons). The club were now under a 'hard' transfer embargo and could only sign free agents and loanees - which remains.

2021-22, the most recent accounts, saw the club's wage costs come down to £25.3m (150% of revenue). The club did see a net profit on transfer (£2.8m), mostly due to Crystal Palace triggering the £8m clause in Michael Olise's contract. The club still lost £17.3m.

By now, we were signing whoever wanted Championship football; almost all weren't deemed good enough by anyone else in the division. Andy Carroll joined us on £1k p/w [final paragraph] for example. I believe we would've had a £16m wage limit in the Championship this season due to our previous sanctions, with a reduced figure being used if the club was in League One.

Basically, the club's financial situation has gone from adjusting to not having parachute payments before Dai took over to insane levels of spending since.

Currently, the club is heavily downsizing. Even basic things: players are now getting microwaveable meals; the club won't be funding hotel stays for away games (we've still got to go to Carlisle) and the club's sponsor has been loaning the club money to pay staff and tax bills. I no longer expect the toilets at the ground to have soap.

The trigger for Saturday's events was a confluence of a number of factors: the lack of progress over a takeover; the China-based CEO agreeing to sell two players without informing anyone based in the UK (ie. the Director of Football and manager) and club whistleblowers confirming the Chinese owner/directors public statements don't line up with what they're doing privately. On the latter point, the suggestion now is the owner's plan is to liquidate the club and sell the club's assets (notably the stadium and training ground). He's already liquidated two clubs - one in Belgium; one in China.

The public face has been to suggest a sale is around the corner. A deal was nearly complete with a consortium, before Dai raised the price of the club by £20m! This harks back to a failed sale of a player in 2019; Wolves pulled out of a 'multi-million pound' deal for an academy player who was on the fringe of the first team at the time due to Dai upping the price at the last minute - he left on a free at the end of the season and is now in the Porto first team squad (albeit not a regular). It was suggested the club wanted £3m for him a few months before.

It's been suggested since Saturday, Dai faces various charges in China regarding fraud and embezzlement. There's a claim he defrauded one of China's state owned banks out of ~£770m; I believe his company has already been delisted from the Hong Kong stock exchange due to potential fraud.

It's worth stating that prior to the past week, there was sizable opposition to even throwing on tennis balls, let alone getting to invading the pitch. It's brought up a couple of times before, before being heavily shot down. The poll currently on our forum, which was been on the unfavourable side of our online support, shows 73% in favour of Saturday's actions; I don't think even those who supported it expected to get this much media attention. The mood has shifted very quickly.

Notes:

1. It likely wasn't actually £7m. A large percentage of Championship transfers are made up of clauses, most notably an additional fee on promotion. The club's spending on transfers, even accounting for amortisation, suggests the club didn't actually pay £7m for him.

[Packmoor_vale]

18 minutes ago, Clyde1998 said:

Hi all,

I'm a Reading fan - so just wanted to update you and attempt to answer some of the points that have been made on here.

First of all, thank you for your support. I acknowledge travelling several hours and spending (in some cases) hundreds to a match that was abandoned, especially given it was caused by something that was preventable, is not something that people would be happy about.

In terms of refunds or the situation regarding what happens to the match: Reading have put out a statement stating they've yet to be given guidance from the relevant authorities as to what will happen with the match. Whether the match gets replayed or not will affect the options available to anyone who purchased a ticket.

I believe the standard procedure is to allow tickets purchased for the original match to be used for a replayed fixture should the game have not reached half-time (as in this case), with the option to get a refund (the purchaser would be required to take action). Should the game be forfeited or played behind closed doors, I believe all tickets will be refunded without having to request it.

I'm expecting the game will either be forfeited (ie. given as a 3-0 win to Port Vale) or replayed with Reading being given a three point deduction (ie. we can't benefit from the abandonment, but Port Vale aren't automatically credited). There's a chance the replayed game will be played behind closed doors - although any sanction may not affect away fans, nor be applied to any replayed match.

In regards to the club's financial situation. The club's current owner purchased the club in May 2017, with the announcement being made either during or immediately after our play-off semi-final second leg win.

For the 2016-17 season, the club posted a £4.7m profit. The club had been reducing costs following relegation from the Premier League, with 2016-17 being the final season of parachute payments; there was also the benefit of ticket money from the play-off final. The club's wages to turnover ratio was 76%.

Despite the known reduction of revenue prior to the season (turnover fell from £36.7m to £17.9m), the new owner massively increased the club's cost base: wages increased by £6.6m (to 197% of revenue) and the club went from making a net transfer profit in each of the seasons since relegation from the Premier League to a net spend of £6.8m. The net result was a £21m loss. It was in this season the stadium was sold to the owner, for £26.5m, to get around FFP limits (although this doesn't appear in the profit and loss statement from what I can see).

One of the transfers that summer became emblematic of Dai's ownership: the £7m signing of Sone Aluko. At a time the club had two first team strikers and had refused to sign a £5m striker earlier in the transfer window, a sixth winger was bought for £7m (see note 1) - who was of the same broad standard as our other wingers. This was a signing criticised at the time and was a factor in our then Director of Football resigning.

The 2018-19 season saw the club's wage costs increase again, by another £5.4m to £40.7m (198% of revenue); £3.5m (net) was spent on players. A loss of £30.1m was made.

2019-20, which was partially affected by Covid, saw wages drop slightly but a fall in revenue saw wages to turnover reach 216%. A net £7.6m was spent on transfers - including two big signings immediately following the club exiting a 'soft' transfer embargo due to FFP. A £42m loss was recorded.

The full-Covid season of 2020-21 obviously saw a further drop in revenue, and, despite a drop in wages to £32.3m, the wages to turnover ratio was now at 234%. There was a net £7.6m in transfer fees leaving the club (most of these appear to be from transfers from previous seasons). The club were now under a 'hard' transfer embargo and could only sign free agents and loanees - which remains.

2021-22, the most recent accounts, saw the club's wage costs come down to £25.3m (150% of revenue). The club did see a net profit on transfer (£2.8m), mostly due to Crystal Palace triggering the £8m clause in Michael Olise's contract. The club still lost £17.3m.

By now, we were signing whoever wanted Championship football; almost all weren't deemed good enough by anyone else in the division. Andy Carroll joined us on £1k p/w [final paragraph] for example. I believe we would've had a £16m wage limit in the Championship this season due to our previous sanctions, with a reduced figure being used if the club was in League One.

Basically, the club's financial situation has gone from adjusting to not having parachute payments before Dai took over to insane levels of spending since.

Currently, the club is heavily downsizing. Even basic things: players are now getting microwaveable meals; the club won't be funding hotel stays for away games (we've still got to go to Carlisle) and the club's sponsor has been loaning the club money to pay staff and tax bills. I no longer expect the toilets at the ground to have soap.

The trigger for Saturday's events was a confluence of a number of factors: the lack of progress over a takeover; the China-based CEO agreeing to sell two players without informing anyone based in the UK (ie. the Director of Football and manager) and club whistleblowers confirming the Chinese owner/directors public statements don't line up with what they're doing privately. On the latter point, the suggestion now is the owner's plan is to liquidate the club and sell the club's assets (notably the stadium and training ground). He's already liquidated two clubs - one in Belgium; one in China.

The public face has been to suggest a sale is around the corner. A deal was nearly complete with a consortium, before Dai raised the price of the club by £20m! This harks back to a failed sale of a player in 2019; Wolves pulled out of a 'multi-million pound' deal for an academy player who was on the fringe of the first team at the time due to Dai upping the price at the last minute - he left on a free at the end of the season and is now in the Porto first team squad (albeit not a regular). It was suggested the club wanted £3m for him a few months before.

It's been suggested since Saturday, Dai faces various charges in China regarding fraud and embezzlement. There's a claim he defrauded one of China's state owned banks out of ~£770m; I believe his company has already been delisted from the Hong Kong stock exchange due to potential fraud.

It's worth stating that prior to the past week, there was sizable opposition to even throwing on tennis balls, let alone getting to invading the pitch. It's brought up a couple of times before, before being heavily shot down. The poll currently on our forum, which was been on the unfavourable side of our online support, shows 73% in favour of Saturday's actions; I don't think even those who supported it expected to get this much media attention. The mood has shifted very quickly.

Notes:

1. It likely wasn't actually £7m. A large percentage of Championship transfers are made up of clauses, most notably an additional fee on promotion. The club's spending on transfers, even accounting for amortisation, suggests the club didn't actually pay £7m for him.

Wow 

Another level to bratt and co and smurthwaite that we had to deal with 

We wish u all the best 

[Phil]

2 hours ago, Howjy04 said:

Rick Parry meeting with Reading fans today.He says there is no point in fining Dai as he wouldn’t pay.The EFL can’t relieve Dai of the club irrespective,he’s the owner of the Ltd company.They don’t have the powers to force a sale.

I know the circumstances were different but Abramovich was forced to sell Chelsea without doing anything wrong himself.  This bloke has done wrong.

[onestepatatime]

50 minutes ago, Clyde1998 said:

Hi all,

I'm a Reading fan - so just wanted to update you and attempt to answer some of the points that have been made on here.

First of all, thank you for your support. I acknowledge travelling several hours and spending (in some cases) hundreds to a match that was abandoned, especially given it was caused by something that was preventable, is not something that people would be happy about.

In terms of refunds or the situation regarding what happens to the match: Reading have put out a statement stating they've yet to be given guidance from the relevant authorities as to what will happen with the match. Whether the match gets replayed or not will affect the options available to anyone who purchased a ticket.

I believe the standard procedure is to allow tickets purchased for the original match to be used for a replayed fixture should the game have not reached half-time (as in this case), with the option to get a refund (the purchaser would be required to take action). Should the game be forfeited or played behind closed doors, I believe all tickets will be refunded without having to request it.

I'm expecting the game will either be forfeited (ie. given as a 3-0 win to Port Vale) or replayed with Reading being given a three point deduction (ie. we can't benefit from the abandonment, but Port Vale aren't automatically credited). There's a chance the replayed game will be played behind closed doors - although any sanction may not affect away fans, nor be applied to any replayed match.

In regards to the club's financial situation. The club's current owner purchased the club in May 2017, with the announcement being made either during or immediately after our play-off semi-final second leg win.

For the 2016-17 season, the club posted a £4.7m profit. The club had been reducing costs following relegation from the Premier League, with 2016-17 being the final season of parachute payments; there was also the benefit of ticket money from the play-off final. The club's wages to turnover ratio was 76%.

Despite the known reduction of revenue prior to the season (turnover fell from £36.7m to £17.9m), the new owner massively increased the club's cost base: wages increased by £6.6m (to 197% of revenue) and the club went from making a net transfer profit in each of the seasons since relegation from the Premier League to a net spend of £6.8m. The net result was a £21m loss. It was in this season the stadium was sold to the owner, for £26.5m, to get around FFP limits (although this doesn't appear in the profit and loss statement from what I can see).

One of the transfers that summer became emblematic of Dai's ownership: the £7m signing of Sone Aluko. At a time the club had two first team strikers and had refused to sign a £5m striker earlier in the transfer window, a sixth winger was bought for £7m (see note 1) - who was of the same broad standard as our other wingers. This was a signing criticised at the time and was a factor in our then Director of Football resigning.

The 2018-19 season saw the club's wage costs increase again, by another £5.4m to £40.7m (198% of revenue); £3.5m (net) was spent on players. A loss of £30.1m was made.

2019-20, which was partially affected by Covid, saw wages drop slightly but a fall in revenue saw wages to turnover reach 216%. A net £7.6m was spent on transfers - including two big signings immediately following the club exiting a 'soft' transfer embargo due to FFP. A £42m loss was recorded.

The full-Covid season of 2020-21 obviously saw a further drop in revenue, and, despite a drop in wages to £32.3m, the wages to turnover ratio was now at 234%. There was a net £7.6m in transfer fees leaving the club (most of these appear to be from transfers from previous seasons). The club were now under a 'hard' transfer embargo and could only sign free agents and loanees - which remains.

2021-22, the most recent accounts, saw the club's wage costs come down to £25.3m (150% of revenue). The club did see a net profit on transfer (£2.8m), mostly due to Crystal Palace triggering the £8m clause in Michael Olise's contract. The club still lost £17.3m.

By now, we were signing whoever wanted Championship football; almost all weren't deemed good enough by anyone else in the division. Andy Carroll joined us on £1k p/w [final paragraph] for example. I believe we would've had a £16m wage limit in the Championship this season due to our previous sanctions, with a reduced figure being used if the club was in League One.

Basically, the club's financial situation has gone from adjusting to not having parachute payments before Dai took over to insane levels of spending since.

Currently, the club is heavily downsizing. Even basic things: players are now getting microwaveable meals; the club won't be funding hotel stays for away games (we've still got to go to Carlisle) and the club's sponsor has been loaning the club money to pay staff and tax bills. I no longer expect the toilets at the ground to have soap.

The trigger for Saturday's events was a confluence of a number of factors: the lack of progress over a takeover; the China-based CEO agreeing to sell two players without informing anyone based in the UK (ie. the Director of Football and manager) and club whistleblowers confirming the Chinese owner/directors public statements don't line up with what they're doing privately. On the latter point, the suggestion now is the owner's plan is to liquidate the club and sell the club's assets (notably the stadium and training ground). He's already liquidated two clubs - one in Belgium; one in China.

The public face has been to suggest a sale is around the corner. A deal was nearly complete with a consortium, before Dai raised the price of the club by £20m! This harks back to a failed sale of a player in 2019; Wolves pulled out of a 'multi-million pound' deal for an academy player who was on the fringe of the first team at the time due to Dai upping the price at the last minute - he left on a free at the end of the season and is now in the Porto first team squad (albeit not a regular). It was suggested the club wanted £3m for him a few months before.

It's been suggested since Saturday, Dai faces various charges in China regarding fraud and embezzlement. There's a claim he defrauded one of China's state owned banks out of ~£770m; I believe his company has already been delisted from the Hong Kong stock exchange due to potential fraud.

It's worth stating that prior to the past week, there was sizable opposition to even throwing on tennis balls, let alone getting to invading the pitch. It's brought up a couple of times before, before being heavily shot down. The poll currently on our forum, which was been on the unfavourable side of our online support, shows 73% in favour of Saturday's actions; I don't think even those who supported it expected to get this much media attention. The mood has shifted very quickly.

Notes:

1. It likely wasn't actually £7m. A large percentage of Championship transfers are made up of clauses, most notably an additional fee on promotion. The club's spending on transfers, even accounting for amortisation, suggests the club didn't actually pay £7m for him.

Absolutely mind boggling mate! With all this info all I can say is massive commiserations with your plight. You have eloquently expressed fully the total mess Reading F C are in. However I keep coming back to the Leagues decision to have agreed to the Owners fit and proper criteria. It was apparently common knowledge of his previous dodgey ( to say the least) dealings. True fans need to stand together to rid our beautiful game of such con men. All the best Reading, you'll need it!

 

 

 

[Wise Owl]

7 minutes ago, onestepatatime said:

Absolutely mind boggling mate! With all this info all I can say is massive commiserations with your plight. You have eloquently expressed fully the total mess Reading F C are in. However I keep coming back to the Leagues decision to have agreed to the Owners fit and proper criteria. It was apparently common knowledge of his previous dodgey ( to say the least) dealings. True fans need to stand together to rid our beautiful game of such con men. All the best Reading, you'll need it!

 

 

 

I feel so sorry for Reading fans. How the hell did the EFL allow this clown to take over a wonderful club and wreck it?

[TJHValiant]

34 minutes ago, Phil said:

I know the circumstances were different but Abramovich was forced to sell Chelsea without doing anything wrong himself.  This bloke has done wrong.

I’d say backing Putin, as Abramovich did for many years was the definition of himself doing something wrong! 😂

[Rampant Zebra]

Regardless of the unfortunate circumstances which Reading find themselves in I think it was poor to get the game abandoned. They have disrupted our season when we were just beginning to see an improvement in form. It puts more pressure on the next two home games and will have unsettled our squad. I bet Jensen Weir was a bit disappointed with his league debut for example. 

[Howjy04]

2 hours ago, Phil said:

I know the circumstances were different but Abramovich was forced to sell Chelsea without doing anything wrong himself.  This bloke has done wrong.

Just relaying what Parry said,Phil.

[Howjy04]

3 hours ago, Jacko51 said:

When is he meeting?  He is in Parliament this morning responding to the Culture, Media and Sport Committee. 

He said this afternoon,Jean.

[Wrex]

2 hours ago, Phil said:

I know the circumstances were different but Abramovich was forced to sell Chelsea without doing anything wrong himself.  This bloke has done wrong.

Abramovich was sanctioned by the UK government and special permission was given to prevent Chelsea F.C. being liquidated on the spot

[Jacko51]

3 hours ago, Clyde1998 said:

Hi all,

I'm a Reading fan - so just wanted to update you and attempt to answer some of the points that have been made on here.

First of all, thank you for your support. I acknowledge travelling several hours and spending (in some cases) hundreds to a match that was abandoned, especially given it was caused by something that was preventable, is not something that people would be happy about.

In terms of refunds or the situation regarding what happens to the match: Reading have put out a statement stating they've yet to be given guidance from the relevant authorities as to what will happen with the match. Whether the match gets replayed or not will affect the options available to anyone who purchased a ticket.

I believe the standard procedure is to allow tickets purchased for the original match to be used for a replayed fixture should the game have not reached half-time (as in this case), with the option to get a refund (the purchaser would be required to take action). Should the game be forfeited or played behind closed doors, I believe all tickets will be refunded without having to request it.

I'm expecting the game will either be forfeited (ie. given as a 3-0 win to Port Vale) or replayed with Reading being given a three point deduction (ie. we can't benefit from the abandonment, but Port Vale aren't automatically credited). There's a chance the replayed game will be played behind closed doors - although any sanction may not affect away fans, nor be applied to any replayed match.

In regards to the club's financial situation. The club's current owner purchased the club in May 2017, with the announcement being made either during or immediately after our play-off semi-final second leg win.

For the 2016-17 season, the club posted a £4.7m profit. The club had been reducing costs following relegation from the Premier League, with 2016-17 being the final season of parachute payments; there was also the benefit of ticket money from the play-off final. The club's wages to turnover ratio was 76%.

Despite the known reduction of revenue prior to the season (turnover fell from £36.7m to £17.9m), the new owner massively increased the club's cost base: wages increased by £6.6m (to 197% of revenue) and the club went from making a net transfer profit in each of the seasons since relegation from the Premier League to a net spend of £6.8m. The net result was a £21m loss. It was in this season the stadium was sold to the owner, for £26.5m, to get around FFP limits (although this doesn't appear in the profit and loss statement from what I can see).

One of the transfers that summer became emblematic of Dai's ownership: the £7m signing of Sone Aluko. At a time the club had two first team strikers and had refused to sign a £5m striker earlier in the transfer window, a sixth winger was bought for £7m (see note 1) - who was of the same broad standard as our other wingers. This was a signing criticised at the time and was a factor in our then Director of Football resigning.

The 2018-19 season saw the club's wage costs increase again, by another £5.4m to £40.7m (198% of revenue); £3.5m (net) was spent on players. A loss of £30.1m was made.

2019-20, which was partially affected by Covid, saw wages drop slightly but a fall in revenue saw wages to turnover reach 216%. A net £7.6m was spent on transfers - including two big signings immediately following the club exiting a 'soft' transfer embargo due to FFP. A £42m loss was recorded.

The full-Covid season of 2020-21 obviously saw a further drop in revenue, and, despite a drop in wages to £32.3m, the wages to turnover ratio was now at 234%. There was a net £7.6m in transfer fees leaving the club (most of these appear to be from transfers from previous seasons). The club were now under a 'hard' transfer embargo and could only sign free agents and loanees - which remains.

2021-22, the most recent accounts, saw the club's wage costs come down to £25.3m (150% of revenue). The club did see a net profit on transfer (£2.8m), mostly due to Crystal Palace triggering the £8m clause in Michael Olise's contract. The club still lost £17.3m.

By now, we were signing whoever wanted Championship football; almost all weren't deemed good enough by anyone else in the division. Andy Carroll joined us on £1k p/w [final paragraph] for example. I believe we would've had a £16m wage limit in the Championship this season due to our previous sanctions, with a reduced figure being used if the club was in League One.

Basically, the club's financial situation has gone from adjusting to not having parachute payments before Dai took over to insane levels of spending since.

Currently, the club is heavily downsizing. Even basic things: players are now getting microwaveable meals; the club won't be funding hotel stays for away games (we've still got to go to Carlisle) and the club's sponsor has been loaning the club money to pay staff and tax bills. I no longer expect the toilets at the ground to have soap.

The trigger for Saturday's events was a confluence of a number of factors: the lack of progress over a takeover; the China-based CEO agreeing to sell two players without informing anyone based in the UK (ie. the Director of Football and manager) and club whistleblowers confirming the Chinese owner/directors public statements don't line up with what they're doing privately. On the latter point, the suggestion now is the owner's plan is to liquidate the club and sell the club's assets (notably the stadium and training ground). He's already liquidated two clubs - one in Belgium; one in China.

The public face has been to suggest a sale is around the corner. A deal was nearly complete with a consortium, before Dai raised the price of the club by £20m! This harks back to a failed sale of a player in 2019; Wolves pulled out of a 'multi-million pound' deal for an academy player who was on the fringe of the first team at the time due to Dai upping the price at the last minute - he left on a free at the end of the season and is now in the Porto first team squad (albeit not a regular). It was suggested the club wanted £3m for him a few months before.

It's been suggested since Saturday, Dai faces various charges in China regarding fraud and embezzlement. There's a claim he defrauded one of China's state owned banks out of ~£770m; I believe his company has already been delisted from the Hong Kong stock exchange due to potential fraud.

It's worth stating that prior to the past week, there was sizable opposition to even throwing on tennis balls, let alone getting to invading the pitch. It's brought up a couple of times before, before being heavily shot down. The poll currently on our forum, which was been on the unfavourable side of our online support, shows 73% in favour of Saturday's actions; I don't think even those who supported it expected to get this much media attention. The mood has shifted very quickly.

Notes:

1. It likely wasn't actually £7m. A large percentage of Championship transfers are made up of clauses, most notably an additional fee on promotion. The club's spending on transfers, even accounting for amortisation, suggests the club didn't actually pay £7m for him.

If he's defrauded a Chinese bank out of £770 million, how come his kneecaps are still intact?!!

Thanks very much for explaining the situation, Clyde.  I very much hope your club is saved.

[rayzer]

A couple of things that could put the kibosh on Yongge's plans is for the local council to state that Reading FC and the training grounds are community facilities and will only be allowed to be used for football and no planning permissions will be allowed for housing etc. It is what our council did. Or am I wrong?

[ollyandpatch]

2 hours ago, Rampant Zebra said:

Regardless of the unfortunate circumstances which Reading find themselves in I think it was poor to get the game abandoned. They have disrupted our season when we were just beginning to see an improvement in form. It puts more pressure on the next two home games and will have unsettled our squad. I bet Jensen Weir was a bit disappointed with his league debut for example. 

That's just your opinion.  Mine is take the positives that we dodged a game with a threadbare squad and it's an extra week to get players fit.

[andy jones]

14 minutes ago, rayzer said:

A couple of things that could put the kibosh on Yongge's plans is for the local council to state that Reading FC and the training grounds are community facilities and will only be allowed to be used for football and no planning permissions will be allowed for housing etc. It is what our council did. Or am I wrong?

You are right there mate.

During the 'troubles' former SC Chairman, Pete Williams, was instrumental in getting the Council to put a stop to any potential commercial development which came as a terrible shock to the owner.