League One - 2023/24

[Spoonz Red E]

Looks like there might be a buyer for Reading

Club Statement

www.readingfc.co.uk

Seems Wycombe won't get to buy their training ground as previously mooted.

 

[Colesman Ballz]

Seems Wycombe won't get to buy their training ground as previously mooted.

Would not have been likely to happen anyway, after Wycombe discovered that the planning consent for the building of the ground was conditional on only Reading using it. They "pulled the plug" when that fact emerged !

 

[sign of the chimes]

Looks like there might be a buyer for Reading

Club Statement

www.readingfc.co.uk

I wish them well, but wonder whether any deal done while Dai Yongge is in charge will be in the best interests of the clubs, given what I understand of his history with clubs elsewhere. I thought their best hope in the medium-term would have been a buy-out from an administrator, but I hope I'm proven wrong.

 

[andrew p long]

Best to listen to the Reading fans action group, rather than the latest smoke and mirrors from the owner. As they correctly say 'as with any statement from the owner, it provides more questions than answers'.

Things to emerge from the statement

..no deal has been agreed - the final terms are to be negotiated
..this will take two months
..the identity of the proposed buyer will remain secret

So it could be, for example, an associate/puppet of the current owner. Very worrying that the identity of the proposed owner is hidden for two months, preventing anybody looking into the finances and background of the proposed new owner.

 

[grecIAN Harris]

Best to listen to the Reading fans action group, rather than the latest smoke and mirrors from the owner. As they correctly say 'as with any statement from the owner, it provides more questions than answers'.

Things to emerge from the statement

..no deal has been agreed - the final terms are to be negotiated
..this will take two months
..the identity of the proposed buyer will remain secret

So it could be, for example, an associate/puppet of the current owner. Very worrying that the identity of the proposed owner is hidden for two months, preventing anybody looking into the finances and background of the proposed new owner.

With regards to the last point, as was suggested on SSN, probably not such a bad thing. How many times have you heard about Mr X on the media shouting about how he is going to buy Z club, build up plenty.of media focus and fan excitement all for it to fall flat. It's usually the deals with said new owner is quieter holding their counsel that go through.

 

[Alistair20000]

Best to listen to the Reading fans action group, rather than the latest smoke and mirrors from the owner. As they correctly say 'as with any statement from the owner, it provides more questions than answers'.

Things to emerge from the statement

..no deal has been agreed - the final terms are to be negotiated
..this will take two months
..the identity of the proposed buyer will remain secret

So it could be, for example, an associate/puppet of the current owner. Very worrying that the identity of the proposed owner is hidden for two months, preventing anybody looking into the finances and background of the proposed new owner.

I did read that the mystery potential buyer had made funds available to pay HMRC which suggests a desire to avoid another points deduction.

 

[Spoonz Red E]

I did read that the mystery potential buyer had made funds available to pay HMRC which suggests a desire to avoid another points deduction.

The prospective buyer has been revealed as Liv Fasst.

 

[grecIAN Harris]

The prospective buyer has been revealed as Liv Fasst.

Is he there to stop Reading dying slowly?

 

[SaintJames]

www.bbc.co.uk/sport/football/68679971

Eye watering losses for an 'average' L1 club similar in stature to ourselves. It highlights the financial reality of trying to become sustainable given Shrewsbury's average gates are pretty damn similar to ours. The bit I have quoted below from their Chairman was for me the key info that made me sit up and take notice when commentating that

Wycherley said: "The method of calculation of the salary cap in the EFL means that our total revenue would need to double to be able to afford a playing budget to compete with many clubs currently in League One.".

I'm really not sure we could double our revenure could we?

Shrewsbury Town: League One club report £3m loss for 2022-23 season - BBC Sport

 

[Rosencrantz]

www.bbc.co.uk/sport/football/68679971

Eye watering losses for an 'average' L1 club similar in stature to ourselves. It highlights the financial reality of trying to become sustainable given Shrewsbury's average gates are pretty damn similar to ours. The bit I have quoted below from their Chairman was for me the key info that made me sit up and take notice when commentating that

Wycherley said: "The method of calculation of the salary cap in the EFL means that our total revenue would need to double to be able to afford a playing budget to compete with many clubs currently in League One.".

I'm really not sure we could double our revenure could we?

Shrewsbury Town: League One club report £3m loss for 2022-23 season - BBC Sport

I've been following Keiran Maguire's Price of Football twitter account recently as the accounts are all coming out and this is nothing out of the ordinary for L1 or L2, a lot of seven figure losses are being posted. The Championship is even more horrific for losses. As for the underlying debt to owners...

There is so much money in football that it shouldn't be difficult to run financially prudently, putting the money back onto the pitch and into clubs and stadiums without posting losses year on year and being propped up. But the continual lure and ambition of the next level up and even more money in the PL, and if you are in the PL, in the CL, just drips down the leagues. As long as there are owners always willing to facilitate debt, it will continue. I am not sure where this ends really, I doubt an independent regulator will be able to click their fingers and make clubs sustainable. I absolutely know that the PL and clubs themselves won't.