Fresh embargo on Royals after tax bill remains unpaid – Reading Today Online

Reading FC Dai Yongge

A NEW embargo has been placed on Reading FC after the club failed to pay an outstanding sum to HMRC.

It comes days after owner Dai Yongge was charged with misconduct by the English Football League for failing to deposit 125% of the club’s forecast monthly wage bill into a designated account by September 12.

He awaits a hearing from the independent disciplinary commission, and the club has been given a three-point deduction, on top of the one point it had already been docked. This leaves them in a peotn

And the club’s new embargo will remain in place until the club has repaid the outstanding funds to HMRC.

A statement by the club said: “We would like to express our sincere gratitude to our community, our commercial partners, sponsors and suppliers and, most importantly, our fans – for your continued support and patience during this extremely challenging period.

“We also want to place on record the club’s appreciation to its staff who continue to represent the club admirably in increasingly demanding circumstances. We can confirm that the wage bill for September has been satisfied in full and in a timely fashion.”

The search for new investors continues, and there could even be a new owner.

“The club continues to suffer significant cashflow issues and, in striving to establish sources of stable external investment, we can confirm that there has been significant interest from a number of parties seeking involvement in the club,” the statement continued.

“Discussions and due diligence processes with a number of these potential investors continue apace.

“Our owner, Mr Dai, is openly inviting further credible offers of interest and declarations of intent from parties eager to pursue a potential sale of the club.”

Tomorrow’s home game against Burton Albion will see Royals fans protest by dressing in black, and follows on from a similar initiative two weeks ago where tennis balls were thrown on to the pitch.

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