Gaspode Posted August 2, 2023 Share Posted August 2, 2023 32 minutes ago, Scott129 said: An update on Reading, where the wage money is apparently stuck in China, although it will definitely be with the club in the next few days 🙄 https://www.readingfc.co.uk/news/2023/august/02/club-statement-update-on-investment/ Remarkably similar to the situation we had with Kirchner. Much easier to see that it's total b******s when you're looking from the outside in though. Previous reports suggested that the guy does actually have (a lot of) money - but he's been critical of the Chinese government and so they won't let him take any of it out of the country, so not that similar to the Kirch - though that doesn't explain why he can't raise the money in this country via loans if he's confident he'll get to his wonga soon.... Scott129 1 Link to comment Share on other sites More sharing options...
Mucker1884 Posted August 2, 2023 Share Posted August 2, 2023 1 hour ago, Scott129 said: An update on Reading, where the wage money is apparently stuck in China, although it will definitely be with the club in the next few days 🙄 https://www.readingfc.co.uk/news/2023/august/02/club-statement-update-on-investment/ Remarkably similar to the situation we had with Kirchner. Much easier to see that it's total b******s when you're looking from the outside in though. It actually states that the wages HAVE been paid at the end of the month (Players and staff), and that it's the late tax bill to HMRC that will be settled in the coming days. Scott129 1 Link to comment Share on other sites More sharing options...
Foreveram Posted August 2, 2023 Share Posted August 2, 2023 2 hours ago, Mucker1884 said: It actually states that the wages HAVE been paid at the end of the month (Players and staff), and that it's the late tax bill to HMRC that will be settled in the coming days. It’s already two weeks late, so there will be another one along soon. Link to comment Share on other sites More sharing options...
Tamworthram Posted August 2, 2023 Share Posted August 2, 2023 5 hours ago, Scott129 said: An update on Reading, where the wage money is apparently stuck in China, although it will definitely be with the club in the next few days 🙄 https://www.readingfc.co.uk/news/2023/august/02/club-statement-update-on-investment/ Remarkably similar to the situation we had with Kirchner. Much easier to see that it's total b******s when you're looking from the outside in though. I think a lot of us could smell the BS with Kirchner’s AML delays story at the time and said so on this forum. At least getting money out of China does sound a tad more credible. Link to comment Share on other sites More sharing options...
Foreveram Posted August 2, 2023 Share Posted August 2, 2023 1 hour ago, Tamworthram said: I think a lot of us could smell the BS with Kirchner’s AML delays story at the time and said so on this forum. At least getting money out of China does sound a tad more credible. Even though their owner lives in London and his business is registered in the Cayman Islands. Ted McMinn Football Genius 1 Link to comment Share on other sites More sharing options...
Tamworthram Posted August 3, 2023 Share Posted August 3, 2023 9 hours ago, Foreveram said: Even though their owner lives in London and his business is registered in the Cayman Islands. I don’t know, I’m no expert. If the money is in China perhaps it doesn’t matter so much where he lives or where the business is registered. In any event, I didn’t say it was entirely believable. I only said it sounded a tad more credible than Kirchner’s ludicrous claims that his money had gone to somewhere in Europe and was being held up by extensive AML checks (I can’t remember the full story now). Link to comment Share on other sites More sharing options...
GenBr Posted August 3, 2023 Share Posted August 3, 2023 52 minutes ago, Tamworthram said: I don’t know, I’m no expert. If the money is in China perhaps it doesn’t matter so much where he lives or where the business is registered. In any event, I didn’t say it was entirely believable. I only said it sounded a tad more credible than Kirchner’s ludicrous claims that his money had gone to somewhere in Europe and was being held up by extensive AML checks (I can’t remember the full story now). The situation is more similar to the Dr Xi situation with Aston Villa than it is with the Kirchner situation. Not the first time the chinese government has stopped people taking money out of the country Tamworthram 1 Link to comment Share on other sites More sharing options...
Mick Harford Posted August 3, 2023 Share Posted August 3, 2023 They'd best get it sorted as Wiki tells me that this is their Squad, the last 4 players have yet to be registered with the EFL according to Robbie Savage yesterday. Both Wolves and West Brom, Chinese owned, have also spent next to nothing this summer (although Wolves spent large last season) Link to comment Share on other sites More sharing options...
Srg Posted August 3, 2023 Share Posted August 3, 2023 3 minutes ago, Mick Harford said: They'd best get it sorted as Wiki tells me that this is their Squad, the last 4 players have yet to be registered with the EFL according to Robbie Savage yesterday. Both Wolves and West Brom, Chinese owned, have also spent next to nothing this summer (although Wolves spent large last season) Wolves been very close to FFP and had to sell players to satisfy it - Neves etc. West Brom on the other hand, not too big of a stretch to see them in a mess like us. Mick Harford 1 Link to comment Share on other sites More sharing options...
Foreveram Posted August 3, 2023 Share Posted August 3, 2023 Strange how they haven’t got the money to pay the tax bill due on the 22nd of July but could still pay the wage bill at the end of the month, with failure to pay that would bring an automatic points deduction ala Wigan. Link to comment Share on other sites More sharing options...
Tamworthram Posted August 3, 2023 Share Posted August 3, 2023 1 minute ago, Foreveram said: Strange how they haven’t got the money to pay the tax bill due on the 22nd of July but could still pay the wage bill at the end of the month, with failure to pay that would bring an automatic points deduction ala Wigan. I’m not saying it’s right or acceptable but, if we had a cash flow problem, wouldn’t we all prioritise the debts and creditors with the greatest implication for non/late payment? Link to comment Share on other sites More sharing options...
Foreveram Posted August 3, 2023 Share Posted August 3, 2023 3 minutes ago, Tamworthram said: I’m not saying it’s right or acceptable but, if we had a cash flow problem, wouldn’t we all prioritise the debts and creditors with the greatest implication for non/late payment? Absolutely, and we are still being punished for our misdemeanours but the EFL need to recognise that they are playing the system by coming out of an embargo, signing players, not paying the tax and then going back under an embargo after the players have been signed . Link to comment Share on other sites More sharing options...
Sparkle Posted August 3, 2023 Share Posted August 3, 2023 23 minutes ago, Foreveram said: Absolutely, and we are still being punished for our misdemeanours but the EFL need to recognise that they are playing the system by coming out of an embargo, signing players, not paying the tax and then going back under an embargo after the players have been signed . Yet they haven’t been registered to play suggests the league are maybe holding them to account regarding paying their Bills? Link to comment Share on other sites More sharing options...
Foreveram Posted August 3, 2023 Share Posted August 3, 2023 5 minutes ago, Sparkle said: Yet they haven’t been registered to play suggests the league are maybe holding them to account regarding paying their Bills? Maybe, the eyes are on them 👀 Link to comment Share on other sites More sharing options...
MadAmster Posted August 3, 2023 Share Posted August 3, 2023 I thought Reading's suspended 6 point deduction had been activated yet, according to League tables everywhere they are still on 0 points with Wigan on -8... Link to comment Share on other sites More sharing options...
Carnero Posted August 3, 2023 Share Posted August 3, 2023 6 minutes ago, MadAmster said: I thought Reading's suspended 6 point deduction had been activated yet, according to League tables everywhere they are still on 0 points with Wigan on -8... That was activated last season and helped to relegate them. -6 in 21/22 -6 in 22/23 Link to comment Share on other sites More sharing options...
Foreveram Posted August 3, 2023 Share Posted August 3, 2023 1 hour ago, Carnero said: That was activated last season and helped to relegate them. -6 in 21/22 -6 in 22/23 It’s hard to keep up but I think they have another hearing sometime in August where they were expecting another suspended points deduction which is to do with non payment of wages. Hence why they have paid the wage bill this month but not the tax bill as not paying the wages would have been a points deduction. Tax bill, reported to be £1.2 million still not paid. Incidentally, Robbie Savage saying his son and Lewis Wing still not registered. Clocks ticking. Link to comment Share on other sites More sharing options...
Carnero Posted August 3, 2023 Share Posted August 3, 2023 3 minutes ago, Foreveram said: It’s hard to keep up but I think they have another hearing sometime in August where they were expecting another suspended points deduction which is to do with non payment of wages. Hence why they have paid the wage bill this month but not the tax bill as not paying the wages would have been a points deduction. Tax bill, reported to be £1.2 million still not paid. Incidentally, Robbie Savage saying his son and Lewis Wing still not registered. Clocks ticking. Yes, they are still awaiting an independent commission to decide their punishment for the missed wages last season, Wigan got 2 x 4 point deductions, you'd expect Reading to get a similar punishment -4 with -4 suspended (pending them depositing one months wages into an escrow account). Foreveram 1 Link to comment Share on other sites More sharing options...
Eddie Posted August 3, 2023 Share Posted August 3, 2023 An EFL spokesman said... Link to comment Share on other sites More sharing options...
Ramzabac Posted August 3, 2023 Share Posted August 3, 2023 https://www.readingchronicle.co.uk/sport/23699639.reading-fc-removed-transfer-embargo-settling-hmrc/ Link to comment Share on other sites More sharing options...
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