STATEMENT | We, Supporters’ Trust at Reading (STAR), are deeply concerned and disappointed by the latest developments regarding the financial situation of our beloved Club.
The EFL have tonight confirmed that Reading FC has been referred to an Independent disciplinary commission (IDC) for continued non-payment of monies owed to HMRC. This is in addition to the existing registration embargo and fee restriction that the club is already facing for accumulating 79 days of late payments in the current 12-month period. Furthermore, the proceedings against Mr Yongge Dai continue, following his failure to deposit an amount equal to 125% of the club’s forecast monthly wage bill in a designated account.
We remain appalled by the lack of transparency and accountability from the Club’s ownership, who have repeatedly failed to meet their obligations and responsibilities to the Club, the EFL, HMRC, and most importantly, the fans. We have seen our club suffer a points deduction that contributed to our relegation from the Championship last season, and we are now facing further sanctions that could jeopardise our survival in League One. We continue to watch the deterioration of the club that we all love.
We urge Mr Dai to quickly sell the Club to a suitable buyer who can restore its stability and sustainability.
We recognise the EFL’s role in maintaining sporting integrity, but at the same time call on the EFL to ensure that any further punishment imposed on the Club is fair and proportionate, and that it does not penalise the innocent parties, namely the players, the staff, and the supporters. We believe that Reading FC deserves better than this, and we will continue to voice our concerns until we see positive change.
Further to our meeting with the EFL today we hope to be in a position to publish notes from it by the end of the week.
Today’s announcement is just another example of why we firmly believe, given the complexity of the situation at Reading FC, that the Club should be the test case for the independent football regulator. For the good of football we want to see that the regulator has teeth, is fit for purpose, and stops other clubs getting into the situation we find ourselves in.
We would like to thank all Reading fans for their unwavering support and loyalty during these difficult times. We know how much this club means to you, and we share your passion and frustration. We ask you to stand with us as we fight for our club’s future. Together, we are stronger.
Supporters’ Trust at Reading (STAR)