The English Football League has expressed disapproval towards Reading owner Dai Yongge for neglecting his responsibilities, resulting in another financial penalty. The league is calling on the Chinese entrepreneur to either provide financial support or sell the struggling League One club.
On Saturday, a large group of Reading fans protested by entering the field, causing their League One match against Port Vale to end prematurely. Reading is currently in 21st place and is three points away from securing a safe position. The EFL board will meet on Wednesday to determine the best response to this incident. The league stated that the invasion showed how the current circumstances are affecting all members of the club.
Yongge was recently penalized with a £20,000 fine for not depositing 125% of the monthly wage bill, as required. Additionally, a suspended £50,000 fine was enforced after he missed the deadline last Friday. The club, which Yongge acquired in 2017, has had 16 points deducted over the course of the last three seasons due to this ongoing crisis.
Reading, at risk of successive relegations, have implemented a number of cost-cutting measures in recent months and recently scrapped overnight stays on away trips. There have been a number of redundancies, including coaching staff. They are also poised to sell the defenders Tom Holmes and Nelson Abbey to generate funds. Several suppliers have frozen their accounts with the club.
In November, Reading’s head coach, Rubén Sellés, and their head of football operations, Mark Bowen, chose to forgo their salaries in order to guarantee that other staff members were able to be paid. Charlie Savage, who was signed from Manchester United last summer, is only one league start away from earning an increase in pay of £2,000 per month. Despite making 23 league appearances this season, with 14 of those being starts, Savage has not started a league match since November 7th. Reading maintains that Savage’s lack of recent starts has nothing to do with his contract terms.
The issue facing Reading will be addressed at a meeting on Tuesday in the House of Commons by the culture, media and sport select committee. The chairman of the EFL, Rick Parry, and the chief executive of the Premier League, Richard Masters, will talk about the need for an unbiased governing body and financial distribution, and will meet with James Sunderland, the MP representing Bracknell. On Tuesday, the EFL will also meet with the Reading Supporters Trust (Star) and Sell Before We Dai, a fan group that is protesting against the team’s owner.
The league released a statement on Monday, stating their desire for Mr. Dai to either provide sufficient funding for the club or arrange for the sale of his majority share to suitable new owners, in order for everyone to proceed with renewed positivity.
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The EFL had previously advocated for Yongge to receive a 12-month ban from all involvement in football in hopes of initiating a restart for the club. However, an independent disciplinary commission acknowledged Yongge’s financial shortcomings but concluded that a ban would not aid in securing the necessary funds to cover the club’s expenses.
Source: theguardian.com
