Spanish Posted September 3, 2021 Share Posted September 3, 2021 12 minutes ago, Crewton said: It's interesting that our charge under P&S currently listed is specific : non-submission of audited accounts, whilst theirs is general : Breach of Profit and Sustainability Rules. I think this is a reasonable indicator that their breach isn't as simple as a failure to submit report(s), because surely that could be specifically defined, like ours? From what I've read, I suspect that Reading have breached the allowable loss limits, even allowing for 19/20/21 Covid losses/agglomeration and whatever they turn in for 20/21/22 results isn't going to rectify it. But I doubt we'll know what the EFL are going to do about it for some time because I believe Reading's corporate structure is as tangled as ours, if not more so. "As a result of these Financial Fair Play amendments, clubs will now report on a four-year period that covers 2017/18-2020/21 instead of three years 2017/18-2019/20." "However, years three and four will be assessed together with the total Adjusted Earning Before Tax from both periods averaged into one reporting period." Link to comment Share on other sites More sharing options...
cosmic Posted September 3, 2021 Share Posted September 3, 2021 21 hours ago, hintonsboots said: The fans group meeting seems most bizarre to me. I would only ask @David if current happenings were easy to predict from what he learned at that meeting ?? I've just asked something similar in the comms thread, before reading your post. Would be very interesting to know. hintonsboots 1 Link to comment Share on other sites More sharing options...
Crewton Posted September 3, 2021 Share Posted September 3, 2021 10 minutes ago, Spanish said: "As a result of these Financial Fair Play amendments, clubs will now report on a four-year period that covers 2017/18-2020/21 instead of three years 2017/18-2019/20." "However, years three and four will be assessed together with the total Adjusted Earning Before Tax from both periods averaged into one reporting period." Their pre-tax losses, 2018-2020, was £93M. Those accounts have been published. Subtract Covid losses and other deductable allowances and they were well over the £39M limit that would have applied. Whilst that assessment period now takes in 20/21 as well, it's clear that Reading need a business plan now, not in 2 years time. Perhaps the EFL are trying to get ahead of the game for once? Why indeed should Reading be allowed to try to escape punishment by getting promoted this season when it's clear they've grossly overspent? If the EFL are serious about protecting clubs and having a level playing field (Parachute Payments aside), real-time assessment of club finances must be an imperative for them. Link to comment Share on other sites More sharing options...
Animal is a Ram Posted September 3, 2021 Share Posted September 3, 2021 (edited) Wonder who we are owed money for/from? Hughes sell on monies? Whittaker? Evans? Can't think of any other cash sales... Edited September 3, 2021 by Animal is a Ram Carl Sagan and RoyMac5 1 1 Link to comment Share on other sites More sharing options...
Crewton Posted September 3, 2021 Share Posted September 3, 2021 2 minutes ago, Animal is a Ram said: I was going to suggest the very same thing, but had no evidence. This isn't a surprise. I would also not be surprised to learn that other clubs have paid players late, owe HMRC money or have been late in meeting their payment plans. The only thing that isn't surprising is that these other clubs aren't being dragged through the mud. Sparkle, RoyMac5, angieram and 1 other 1 3 Link to comment Share on other sites More sharing options...
Carl Sagan Posted September 3, 2021 Share Posted September 3, 2021 4 minutes ago, Animal is a Ram said: Wonder who we are owed money for/from? Hughes sell on monies? Whittaker? Evans? Can't think of any other cash sales... Was just going to post this. Another case of seemingly the EFL specifically pursuing us but not others. If true, what is going on? Van der MoodHoover, kash_a_ram_a_ding_dong and Derby4Me 2 1 Link to comment Share on other sites More sharing options...
Wolfie Posted September 3, 2021 Share Posted September 3, 2021 7 minutes ago, Animal is a Ram said: Wonder who we are owed money for/from? Hughes sell on monies? Whittaker? Evans? Can't think of any other cash sales... Would Prem clubs be on an EFL bad boys list? I'm thinking Burnley maybe, or compensation for some of the youngsters that have gone to Prem clubs Link to comment Share on other sites More sharing options...
Animal is a Ram Posted September 3, 2021 Share Posted September 3, 2021 Guess while there is a microscope on us, everything will come out, and other clubs may well get away with it to an extent. Or other clubs aren't chasing their debts as hard at the moment... Leveller 1 Link to comment Share on other sites More sharing options...
duncanjwitham Posted September 3, 2021 Share Posted September 3, 2021 10 minutes ago, Animal is a Ram said: Wonder who we are owed money for/from? Hughes sell on monies? Whittaker? Evans? Can't think of any other cash sales... Bogle/Lowe? That's the most recent big-money sale. r_wilcockson and Animal is a Ram 2 Link to comment Share on other sites More sharing options...
Sparkle Posted September 3, 2021 Share Posted September 3, 2021 10 minutes ago, Animal is a Ram said: Wonder who we are owed money for/from? Hughes sell on monies? Whittaker? Evans? Can't think of any other cash sales... Some would seem unlikely but possible still - Man City Man United Liverpool Sheffield United Swansea Millwall Huddersfield? Maybe now Watford with a possible Hughes sell on fee - I would go for Swansea and Sheffield United Link to comment Share on other sites More sharing options...
G STAR RAM Posted September 3, 2021 Share Posted September 3, 2021 1 hour ago, 24Charlie said: How can the same news cause such differing opinions. We have literally got people saying we’re bang to rights take our medicine and move on to those who believe we’ve done nothing wrong and should not accept any punishment whatsoever. What we have is people making up their own minds based on a hunch. We have no facts here but the speculation is polarising opinion. The Club must come out with something tangible to explain everything from ticket sales to transfer embargo. The Club’s reputation amongst fans is in the bin and only the Club can change that. Do something about it DCFC! The fact of the matter is that the EFL brought charges against us, which ended with a £100,000 fine. Until they actually bring any other charges against us we are not guilty of anything and should be treated as such. The facts regarding the embargo are clearly laid out on the EFL website. The Scarlet Pimpernel, StarterForTen and r_wilcockson 1 2 Link to comment Share on other sites More sharing options...
Sparkle Posted September 3, 2021 Share Posted September 3, 2021 Anyway an embargo to these other sides means not much now that the transfer window is shut CBRammette and r_wilcockson 1 1 Link to comment Share on other sites More sharing options...
The Scarlet Pimpernel Posted September 3, 2021 Share Posted September 3, 2021 11 minutes ago, G STAR RAM said: The fact of the matter is that the EFL brought charges against us, which ended with a £100,000 fine. Until they actually bring any other charges against us we are not guilty of anything and should be treated as such. The facts regarding the embargo are clearly laid out on the EFL website. Exactly this. What is the delay? Are the EFL waiting for us to submit or are we waiting for the EFL to decide if we are subject to charges? Surely either way both the silence and the delay are baffling. kash_a_ram_a_ding_dong and Chester40 1 1 Link to comment Share on other sites More sharing options...
Animal is a Ram Posted September 3, 2021 Share Posted September 3, 2021 30 minutes ago, duncanjwitham said: Bogle/Lowe? That's the most recent big-money sale. Of course. With them dropping down to the Champ, I think that'd make them prime suspect. The wording suggests it is fellow EFL clubs that owe us. Link to comment Share on other sites More sharing options...
Spanish Posted September 3, 2021 Share Posted September 3, 2021 44 minutes ago, Crewton said: Their pre-tax losses, 2018-2020, was £93M. Those accounts have been published. Subtract Covid losses and other deductable allowances and they were well over the £39M limit that would have applied. Whilst that assessment period now takes in 20/21 as well, it's clear that Reading need a business plan now, not in 2 years time. Perhaps the EFL are trying to get ahead of the game for once? Why indeed should Reading be allowed to try to escape punishment by getting promoted this season when it's clear they've grossly overspent? If the EFL are serious about protecting clubs and having a level playing field (Parachute Payments aside), real-time assessment of club finances must be an imperative for them. not suggesting for a second they should. perhaps the summary contains a promise to inject capital? By its nature a review is going to be retrospective. Link to comment Share on other sites More sharing options...
Sparkle Posted September 3, 2021 Share Posted September 3, 2021 4 minutes ago, Animal is a Ram said: Of course. With them dropping down to the Champ, I think that'd make them prime suspect. The wording suggests it is fellow EFL clubs that owe us. Wouldn’t Huddersfield still owe us money for Ince? Wasn’t it a five year deal? what about Millwall for Bennett and Evans? Swansea for Whittaker? Link to comment Share on other sites More sharing options...
Spanish Posted September 3, 2021 Share Posted September 3, 2021 Just now, Sparkle said: Wouldn’t Huddersfield still owe us money for Ince? Wasn’t it a five year deal? what about Millwall for Bennett and Evans? Swansea for Whittaker? it would be nice to know the facts. If we are the only ones to be named and shamed it is a disgrace Crewton 1 Link to comment Share on other sites More sharing options...
cheron85 Posted September 3, 2021 Share Posted September 3, 2021 51 minutes ago, Animal is a Ram said: Wonder who we are owed money for/from? Hughes sell on monies? Whittaker? Evans? Can't think of any other cash sales... I suspect the club needs to lodge the late payment with the EFL - And if they haven't then other clubs wouldn't get the thing put against them? Also - If it's a Prem club there's probably nothing the EFL can do However - Pretty harsh doing that to us if they know we've been patiently waiting on payments from other clubs Link to comment Share on other sites More sharing options...
BucksRam Posted September 3, 2021 Share Posted September 3, 2021 42 minutes ago, Wolfie said: Would Prem clubs be on an EFL bad boys list? I'm thinking Burnley maybe, or compensation for some of the youngsters that have gone to Prem clubs I would guess not since the EFL don't govern them. IF however there are EFL clubs that have defaulted on these payments, in the same way we clearly have, then, assuming the EFL rules are "default = get put on the naughty boys list" I would have to question why we are the only ones with that charge against us. If it really is a case of default and get reported, regardless of any other breaches going on, then failure to add teams to the list would strike me as the EFL breaching their own rules (again). I don't know enough about it to be honest, but at face value, yet again it all seems a bit one sided. Link to comment Share on other sites More sharing options...
duncanjwitham Posted September 3, 2021 Share Posted September 3, 2021 2 minutes ago, Sparkle said: Wouldn’t Huddersfield still owe us money for Ince? Wasn’t it a five year deal? what about Millwall for Bennett and Evans? Swansea for Whittaker? There's no reason the length of the contract he signed has to correlate with the length of any staged payments for him. I'd be surprised if we were willing to wait that long for the cash. And the amounts paid for the others were so low that I think it's probably unlikely that there are major outstanding amounts for them. Link to comment Share on other sites More sharing options...
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