Reading FC - The beginning of the end?

[Winnersaint]

This probably ought to be in General Sports but I've put it here because one of our relatively local rivals are in such deep shit and it serves as a cautionary tale to all us football fans and is pertinent to some extent given what we were going through 15 years ago. Last week it was announced that the club needed £1m to service their obligations for March. Their Chinese owner has today effectively sold the training ground at Bearwood Park to Wycombe Wanderers, so akin to selling Staplewood to Pompey. The outcome of which makes the sale less attractive to potential investors. It appears there are interested buyers but only if the assets are wrapped up as one. It seems the sellers are more concerned about prising as much value from the club's assets that they can and are screwing up any hope of the club being sold. Dai Yongge and his sister have previously presided over the liquidation of two other clubs  Beijing Renhe and KSV Roeselare in Belgium, could it be third time unlucky for Reading?

[ecuk268]

4 hours ago, Winnersaint said:

This probably ought to be in General Sports but I've put it here because one of our relatively local rivals are in such deep shit and it serves as a cautionary tale to all us football fans and is pertinent to some extent given what we were going through 15 years ago. Last week it was announced that the club needed £1m to service their obligations for March. Their Chinese owner has today effectively sold the training ground at Bearwood Park to Wycombe Wanderers, so akin to selling Staplewood to Pompey. The outcome of which makes the sale less attractive to potential investors. It appears there are interested buyers but only if the assets are wrapped up as one. It seems the sellers are more concerned about prising as much value from the club's assets that they can and are screwing up any hope of the club being sold. Dai Yongge and his sister have previously presided over the liquidation of two other clubs  Beijing Renhe and KSV Roeselare in Belgium, could it be third time unlucky for Reading?

Good to see that the fit-and-proper person test is working well.

Edited 14 March, 2024 by ecuk268

[Winnersaint]

Just now, ecuk268 said:

Good to see that to fit-and-proper person test is working well.

Indeed. Doesn't help that its been a financial basket case since Madejski sold up. I believe at one point they were losing £350000 a week; their losses were eye watering.