The Royals are still having problems with Yongge because a takeover party has not yet agreed to exclusive terms.
HIGHLIGHTS
- Reading FC staff only received a percentage of their wages for November, while players were paid in full to avoid further points deductions.
- The club is facing financial difficulties and has had issues with unpaid tax bills, prompting worries about its future.
- Former England international Carlton Palmer believes that at the club to move forward and alleviate financial troubles.
Different news that surfaced on Thursday has angered supporters of Reading FC, who were looking for an update on the takeover after the most recent rumor that Genevra Associates was moving up on an exclusivity agreement.
Player and staff wages for the month of November were due on the last day of the month, and there was hope that they would arrive as normal after they did for October from Dai Yongge.
However, the news that many were fearing came true, as it was revealed on Thursday that the non-playing staff of the Royals would only receive a percentage of their monthly wages, with a second email from CEO Dayong Pang to staff claiming that the rest of their wages were coming on Tuesday
The Telegraph’s Ji-Min Lee claimed that staff only received 25 percent of their wages up-front, but what was a real kicker was the Reading Chronicle’s James Earnshaw revealing that whilst the non-players had to suffer, all of Ruben Selles’ squad were paid in full and on time.
This was because Reading wanted to avoid any more sanctions that would affect their points tally.
Following two wins in succession against Wycombe Wanderers and Carlisle United, the Royals are off the bottom of the League One table.
If Reading players were not paid in full, then it would be likely that the EFL would deduct more points, having already taken off four this season, so whilst there wasn’t enough money for the lesser earners that are backroom staff and casual stadium staff, Selles’ players have received all money owed to them.
And it isn’t just wages that the club need to worry about as well, with HMRC also looming over them once again.
Reading FC and HMRC – what is the latest?
After failing to pay a tax bill on time in the summer, Reading were issued with a winding-up petition from HMRC, but the bill was quickly settled – every month this season though the same has occurred where Yongge has not paid the money he owes in taxes.
Another winding-up petition was issued in late October, but a week later Yongge stumped up for the unpaid bill and Reading fans breathed a sigh of relief.
However, they re-appeared on the EFL’s embargo reporting service earlier this week after once again failing to settle their outstanding funds to HMRC, and it remains to be seen as to what happens next – although for their previous misdemeanours, Reading already cannot pay a transfer or loan fee until 2025.
Carlton Palmer speaks out on latest Reading FC off-field setback
Former England international midfielder Carlton Palmer has insisted that the takeover of the club – whoever that may be who comes in with the right offer – cannot come any sooner due to the latest updates from what has happened.
“Reading are back on the EFL embargo list once again after failing to pay recent tax bills owed to HMRC,” Palmer said when speaking to Football League World.
“The Royals have frequently been listed by the EFL and are currently the only team to appear on the list for failing to keep to the league’s regulations on payments.
“The current owner Dai Yongge is unable to keep up with wages and tax bills and they cannot move forward until he is gone.
“The sooner takeover or a takeover happens, the better it will be for the football club.”
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