Points Deduction, Who's Next And When Will It Stop?

[Gaspode]

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....

[Mucker1884]

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.

[Foreveram]

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.

[Tamworthram]

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.

[Foreveram]

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.

[Tamworthram]

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).

[GenBr]

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

[Mick Harford]

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)

 

[Srg]

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.

[Foreveram]

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.

[Tamworthram]

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?

[Foreveram]

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 . 

[Sparkle]

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?

[Foreveram]

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 👀 

[MadAmster]

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...

[Carnero]

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

[Foreveram]

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.

[Carnero]

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).

[Eddie]

An EFL spokesman said...

[Ramzabac]

https://www.readingchronicle.co.uk/sport/23699639.reading-fc-removed-transfer-embargo-settling-hmrc/