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Reading ownership shenanigans - 14th May 2025 takeover complete (p7)
Comments
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His name it is Dai Yongge
He's the king of Welsh goth
goes through my mind every time i see it2 -
Everytime I hear his name I just think ofIdleHans said:His name it is Dai Yongge
He's the king of Welsh goth
goes through my mind every time i see it2 -
There's something wrong where a club can face the ultimate sanction of being kicked out, due to an owner with no interest in the well being of the club at all.
It could have been us in 2020.6 -
Reading reveal they lost £21m in relegation season
https://www.bbc.co.uk/sport/football/articles/cly64g63mryo0 -
Not good reading/Reading…a year late and only a week to file the next set.clive said:Reading reveal they lost £21m in relegation season
https://www.bbc.co.uk/sport/football/articles/cly64g63mryo0 -
A winding up petition has been issued by a player agency. Makes a change from HMRC I guess.
https://www.readingchronicle.co.uk/news/25043840.reading-fc-issued-winding-up-petition-player-agency/0 -
I know this guy clearly doesn't care about clubs folding given what happened in Beijing and Belgium, but the thing i don't get is why?
He has until next week to sell Reading or the EFL can expel them, but if that happens then what does Yongge gain from it? Surely it's better for him to sell and recoup some money than have the club booted out of the league?3 -
Perhaps he would rather be some place like Bradford or Leeds.Leuth said:
There's 5 people on this server who'll know what you mean. And each of us have started our own band etcIdleHans said:His name it is Dai Yongge
He's the king of Welsh goth
goes through my mind every time i see it
We'll murder the verrrrrgerrrr0 -
My guess is that he has loans or other liabilities linked to the club or ground that he can't easily walk away from.Chris_from_Sidcup said:I know this guy clearly doesn't care about clubs folding given what happened in Beijing and Belgium, but the thing i don't get is why?
He has until next week to sell Reading or the EFL can expel them, but if that happens then what does Yongge gain from it? Surely it's better for him to sell and recoup some money than have the club booted out of the league?
He is also a greedy crook and they always think there is another penny to be made by holding out.4 -
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What annoys me is where is the EFL and putting it's hands up and saying sorry for approving this guy on the Fit & Proper ownership test? It's because of them allowing the conman to buy the club that the situation has come to this, yet rather than take any responsibility... they threaten to throw Reading out of the league. I just don't get it.7
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It could be there’s nothing left to sell. If they lost £21 million in 2022/23 and £17m the season before that’s £38m alone and those losses probably have continued with relegation. It sounds like the ground and training ground may be encumbered so basically it’s only the value of the football licence/EFL membership that’s likely to have any value but keeping that going may be costing far more than any value and if there’s nothing left to use to leverage against then the day to day expenses will probably have to come out of his pocket. Promotion this season via the play offs might have some value to a potential buyer but if not pushing the EFL’s bluff and drawing a line under everything and walking away might be a better option that’s in play. That’s a pretty good location and sizeable footprint right next to the M4 that might have plenty of residual value if put to other use.Henry Irving said:
My guess is that he has loans or other liabilities linked to the club or ground that he can't easily walk away from.Chris_from_Sidcup said:I know this guy clearly doesn't care about clubs folding given what happened in Beijing and Belgium, but the thing i don't get is why?
He has until next week to sell Reading or the EFL can expel them, but if that happens then what does Yongge gain from it? Surely it's better for him to sell and recoup some money than have the club booted out of the league?
He is also a greedy crook and they always think there is another penny to be made by holding out.1 -
I don’t know the intricacies of it but as far as I’m aware he’d never done anything that would disqualify him when he thought the club. The EFL can’t fail him because they have a hunch he might become a bad owner a few years down the lineSheepie1985 said:What annoys me is where is the EFL and putting its hands up and saying sorry for approving this guy on the Fit & Proper ownership test? It's because of them allowing the conman to buy the club that the situation has come to this, yet rather than take any responsibility... they threaten to throw Reading out of the league. I just don't get it.1 -
This.fenaddick said:
I don’t know the intricacies of it but as far as I’m aware he’d never done anything that would disqualify him when he thought the club. The EFL can’t fail him because they have a hunch he might become a bad owner a few years down the lineSheepie1985 said:What annoys me is where is the EFL and putting its hands up and saying sorry for approving this guy on the Fit & Proper ownership test? It's because of them allowing the conman to buy the club that the situation has come to this, yet rather than take any responsibility... they threaten to throw Reading out of the league. I just don't get it.
The owners & directors test is a very low bar to get over. Unless you've been previously struck off or bankrupt then there isnt much else barring you from being an owner.
One of ESI mk2 failed it.......but only because they filled out the form incorrectly 😂.1 -
Exactly, it's basically a 'have they got some money or any concerning convictions' test - doesn't guarantee they are a good owner.fenaddick said:
I don’t know the intricacies of it but as far as I’m aware he’d never done anything that would disqualify him when he thought the club. The EFL can’t fail him because they have a hunch he might become a bad owner a few years down the lineSheepie1985 said:What annoys me is where is the EFL and putting its hands up and saying sorry for approving this guy on the Fit & Proper ownership test? It's because of them allowing the conman to buy the club that the situation has come to this, yet rather than take any responsibility... they threaten to throw Reading out of the league. I just don't get it.0 -
Yep, a lot of people really take the idea of the fit and proper persons test to heart. It’s not what they think it is.golfaddick said:
This.fenaddick said:
I don’t know the intricacies of it but as far as I’m aware he’d never done anything that would disqualify him when he thought the club. The EFL can’t fail him because they have a hunch he might become a bad owner a few years down the lineSheepie1985 said:What annoys me is where is the EFL and putting its hands up and saying sorry for approving this guy on the Fit & Proper ownership test? It's because of them allowing the conman to buy the club that the situation has come to this, yet rather than take any responsibility... they threaten to throw Reading out of the league. I just don't get it.
The owners & directors test is a very low bar to get over. Unless you've been previously struck off or bankrupt then there isnt much else barring you from being an owner.
One of ESI mk2 failed it.......but only because they filled out the form incorrectly 😂.0 -
The killer for me about the 'fit and proper' test, was when Portsmouth had 4 owners in one season...fenaddick said:
I don’t know the intricacies of it but as far as I’m aware he’d never done anything that would disqualify him when he thought the club. The EFL can’t fail him because they have a hunch he might become a bad owner a few years down the lineSheepie1985 said:What annoys me is where is the EFL and putting its hands up and saying sorry for approving this guy on the Fit & Proper ownership test? It's because of them allowing the conman to buy the club that the situation has come to this, yet rather than take any responsibility... they threaten to throw Reading out of the league. I just don't get it.
Which was the season the were relegated from the Premer League.0 -
And yet the Premier League barred him when he tried to buy Hull City in 2016. He’d paid a £6m deposit to the Allam family and rocked up to the first game of the season before the PL said no.fenaddick said:
I don’t know the intricacies of it but as far as I’m aware he’d never done anything that would disqualify him when he thought the club. The EFL can’t fail him because they have a hunch he might become a bad owner a few years down the lineSheepie1985 said:What annoys me is where is the EFL and putting its hands up and saying sorry for approving this guy on the Fit & Proper ownership test? It's because of them allowing the conman to buy the club that the situation has come to this, yet rather than take any responsibility... they threaten to throw Reading out of the league. I just don't get it.Something obviously wasn’t right and I think Reading fans deserve to be told whether there was any communication from the EFL to the PL to find out what led to their refusal to let him in.3 -
TelMc32 said:
And yet the Premier League barred him when he tried to buy Hull City in 2016. He’d paid a £6m deposit to the Allam family and rocked up to the first game of the season before the PL said no.fenaddick said:
I don’t know the intricacies of it but as far as I’m aware he’d never done anything that would disqualify him when he thought the club. The EFL can’t fail him because they have a hunch he might become a bad owner a few years down the lineSheepie1985 said:What annoys me is where is the EFL and putting its hands up and saying sorry for approving this guy on the Fit & Proper ownership test? It's because of them allowing the conman to buy the club that the situation has come to this, yet rather than take any responsibility... they threaten to throw Reading out of the league. I just don't get it.Something obviously wasn’t right and I think Reading fans deserve to be told whether there was any communication from the EFL to the PL to find out what led to their refusal to let him in.
This for me is the key point with Dai, that he had previously failed to buy Hull because red flags had been raised. I think you're absolutely bang on that the EFL need to come out and say if there was anything communicated from the PL about Dais failed attempt to buy Hull1 -
A very interesting interview with Rob Couhig former owner of Wycombe & prospective owner of Reading.
https://www.youtube.com/watch?v=PuW8acbuNu0 0 -
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They’ve just been given an extension from this Saturday until 22 April for Yongge to sell the club.0
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Quelle surprise Raquel !!TelMc32 said:They’ve just been given an extension from this Saturday until 22 April for Yongge to sell the club.
You can always rely on the EFL to fudge their responsibilities & to let clubs off the hook.
When is a deadline not a deadline ? When you work for the EFL.7 -
TelMc32 said:They’ve just been given an extension from this Saturday until 22 April for Yongge to sell the club.
Good news for them.1 -
as good as it is for the Reading fans, it does make somwhat a mockery of the whole set of rules The EFL play by - if they just keep extending the suspension threat.
Surely if you have rules, you have to stick to them rather than the case by case translation and reading of the rules4 -
Exactly.19addickted96 said:as good as it is for the Reading fans, it does make somwhat a mockery of the whole set of rules The EFL play by - if they just keep extending the suspension threat.
Surely if you have rules, you have to stick to them rather than the case by case translation and reading of the rules.
And if they do get to the April 22nd deadline & the club has still not been sold do you really think the EFL are going to suspend them with less than 2 weeks of the season left. Do me a favour.
The deadline in reality is May 4th. Or if Reading are in the play offs then May 26th.
You read it here first.5 -
Maybe a deal is close, hence the extension?
it would be unfair if a new owner is going through the fit and proper test with the ball being firmly in the efl’s court, only for the efl to kick them out of the league for not being sold!3 -
When you remember what has happened to our club in the past surely the EFL should be given credit for trying to keep Reading operating. Penalise the owner but not the club and supporters.28
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What a shambles it will be after they beat us in the play off final….golfaddick said:
Exactly.19addickted96 said:as good as it is for the Reading fans, it does make somwhat a mockery of the whole set of rules The EFL play by - if they just keep extending the suspension threat.
Surely if you have rules, you have to stick to them rather than the case by case translation and reading of the rules.
And if they do get to the April 22nd deadline & the club has still not been sold do you really think the EFL are going to suspend them with less than 2 weeks of the season left. Do me a favour.
The deadline in reality is May 4th. Or if Reading are in the play offs then May 26th.
You read it here first.1 -
Starinnaddick said:When you remember what has happened to our club in the past surely the EFL should be given credit for trying to keep Reading operating. Penalise the owner but not the club and supporters.
Think the EFL are better off leaving it till the end of the season imo.Leftfootforward said:
What a shambles it will be after they beat us in the play off final*….golfaddick said:
Exactly.19addickted96 said:as good as it is for the Reading fans, it does make somwhat a mockery of the whole set of rules The EFL play by - if they just keep extending the suspension threat.
Surely if you have rules, you have to stick to them rather than the case by case translation and reading of the rules.
And if they do get to the April 22nd deadline & the club has still not been sold do you really think the EFL are going to suspend them with less than 2 weeks of the season left. Do me a favour.
The deadline in reality is May 4th. Or if Reading are in the play offs then May 26th.
You read it here first.
* should said scenario happen though (who they beat in a hypothetical play off final). If this situation is delayed for that long and they still haven't found anyone. Lawyers will be primed (sad if it is our club) and ready for that compensation cash.0 -
The EFL are not going to kick a club the size of Reading out, unless they are given no other choice (ie. this drags on into the summer). The 22nd April definitely won't be a proper deadline either, they'll just be given a 'final warning' or something like that and they'll then get to the end of the season. They'll then get a 'final final warning' that will take them up until the EFL have their AGM in early June (it's usually 1-2 weeks after the play off finals), as it would surely need to be resolved by then.golfaddick said:
Exactly.19addickted96 said:as good as it is for the Reading fans, it does make somwhat a mockery of the whole set of rules The EFL play by - if they just keep extending the suspension threat.
Surely if you have rules, you have to stick to them rather than the case by case translation and reading of the rules.
And if they do get to the April 22nd deadline & the club has still not been sold do you really think the EFL are going to suspend them with less than 2 weeks of the season left. Do me a favour.
The deadline in reality is May 4th. Or if Reading are in the play offs then May 26th.
You read it here first.
Realistically the EFL will want to give Reading as much time as possible to resolve this, whilst at the same time probably secretly hoping that they don't make the play offs, as it would be very awkward if they got promoted and then had to be suspended from the league.
I fully expect this will all get resolved eventually and i'd be amazed if we ever get to a point where they are kicked out.2
