| Reading 10:10 - Apr 14 with 13738 views | Northernr |
Another train wreck set of accounts
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| Reading on 10:11 - Apr 14 with 5356 views | Rog |
211% !!! |  | | |
| Reading on 10:12 - Apr 14 with 5354 views | toboboly |
I asked him that if FFP is still a thing that it will a major breach, hasn't replied but might pop up in their next podcast. |  |
| Sexy Asian dwarves wanted. |
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| Reading on 10:14 - Apr 14 with 5338 views | Northernr |
| Reading on 10:12 - Apr 14 by toboboly |
I asked him that if FFP is still a thing that it will a major breach, hasn't replied but might pop up in their next podcast. |
He's great, but he does often overlook or fail to mention where all this places them on the FFP scale, and how, if you're only allowed to lose £39m over three seasons, Reading aren't immediately in breach with this one set. | | | |
| Reading on 10:30 - Apr 14 with 5243 views | SimplyNico |
| Reading on 10:14 - Apr 14 by Northernr |
He's great, but he does often overlook or fail to mention where all this places them on the FFP scale, and how, if you're only allowed to lose £39m over three seasons, Reading aren't immediately in breach with this one set. |
It's because it's assessed over a rolling three year period and it might(!) be possible that they have made, and will make, sufficient profit either side of this year to dig them out (betting the house on one good year). The reality is that if FFP is still a thing, and it hasn't been repealed yet, they are in the sh it.
Given the number of Championship clubs who were under an informal embargo in January due to accounts issues (I think it was 10), there is going to be plenty more where this came from. | | | |
| Reading on 10:32 - Apr 14 with 5230 views | Northernr |
| Reading on 10:30 - Apr 14 by SimplyNico |
It's because it's assessed over a rolling three year period and it might(!) be possible that they have made, and will make, sufficient profit either side of this year to dig them out (betting the house on one good year). The reality is that if FFP is still a thing, and it hasn't been repealed yet, they are in the sh it.
Given the number of Championship clubs who were under an informal embargo in January due to accounts issues (I think it was 10), there is going to be plenty more where this came from. |
Reading announced losses the previous two years too, so they're miles and miles over now. | | | |
| Reading on 10:35 - Apr 14 with 5212 views | ted_hendrix |
If ever I wanted a club to collapse it's these bastards.
Before retiring my Company were heavily involved in negotiations for building their new training ground/facilities at Bearwood park, our chief estimator was pulling his hair out with never ending client changes etcetera, I'm not sure who built the f ucking thing in the end as we eventually pulled out.
Not sure if FFP impacts on training grounds but the new place is open and rumoured to be costing somewhere between £40--£50 million.
If ever I wanted a club to collapse it's these bastards.
If there is a god............................................... |  |
| My Father had a profound influence on me, he was a lunatic. |
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| Reading on 10:37 - Apr 14 with 5208 views | SimplyNico |
| Reading on 10:30 - Apr 14 by SimplyNico |
It's because it's assessed over a rolling three year period and it might(!) be possible that they have made, and will make, sufficient profit either side of this year to dig them out (betting the house on one good year). The reality is that if FFP is still a thing, and it hasn't been repealed yet, they are in the sh it.
Given the number of Championship clubs who were under an informal embargo in January due to accounts issues (I think it was 10), there is going to be plenty more where this came from. |
More generally, it is interesting to see the amount of money that people are prepared to lend to clubs. Michael Dell has a fund through his MSD UK Holdings Limited and there are at least two other US outfits which are lending in the region of EUR 50m a time to various English and European clubs to refinance debt.
They do not seem that keen on Champ clubs though! | | | |
| Reading on 10:42 - Apr 14 with 5180 views | SimplyNico |
| Reading on 10:32 - Apr 14 by Northernr |
Reading announced losses the previous two years too, so they're miles and miles over now. |
Indeed. They are completely shot. | | | |
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| Reading on 10:52 - Apr 14 with 5134 views | TomS |
| Reading on 10:30 - Apr 14 by SimplyNico |
It's because it's assessed over a rolling three year period and it might(!) be possible that they have made, and will make, sufficient profit either side of this year to dig them out (betting the house on one good year). The reality is that if FFP is still a thing, and it hasn't been repealed yet, they are in the sh it.
Given the number of Championship clubs who were under an informal embargo in January due to accounts issues (I think it was 10), there is going to be plenty more where this came from. |
There may be a Championship Club capable of making a profit, but it's not Reading. |  | | |
| Reading on 12:23 - Apr 14 with 4962 views | LazyFan |
EFL might try and do a special dispensation for the plague and all that and allow another year.
The problem is I bet they removed anything close to a force majeure event to stop clubs tricking their way out of it and never considered anything like a pandemic could occur. So, as result they have probably blocked their own escape route.
This would hopefully mean that now if they tried that, clubs like QPR could sue their ass into never never land and especially clubs like Wycombe or Rotherham. Even if these clubs don't have the money like we did for court cases they could band together.
Nope Reading is going to have to take the relegation as I am not sure they can string this one out beyond the end of the season as Sheff Wed did. Or they could get promoted via the playoffs and escape it, but that's looking as likly as Rooney winning a beauty contest with Shrek.
Time for a cheeky £3m bid for Ovie Ejaria in these depressed markets? |  |
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| Reading on 12:36 - Apr 14 with 4908 views | bosh67 |
Is there a chance that as they wear hoops that we could be mistaken for them and get our FFP fine raised again? |  |
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| Reading on 12:40 - Apr 14 with 4885 views | Clive_Anderson |
Feels good to finished with all this all this madness doesn't it? | | | |
| Reading on 12:41 - Apr 14 with 4882 views | BklynRanger |
6 points off sixth, 5 games to go. Not looking good. They need to get ready to 'get out in front of this'. Get some consultants in and thrash out an action plan stat. |  | | |
| Reading on 12:45 - Apr 14 with 4854 views | BrianMcCarthy |
| Reading on 12:40 - Apr 14 by Clive_Anderson |
Feels good to finished with all this all this madness doesn't it? |
It really does. |  |
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| Reading on 13:23 - Apr 14 with 4714 views | Toast_R |
FFP has been a thing for what, 7/8 years now?
Has it improved anything? |  | | |
| Reading on 13:37 - Apr 14 with 4642 views | R_from_afar |
It could literally be a case of Premiership or bust for them! |  |
| "Things had started becoming increasingly desperate at Loftus Road but QPR have been handed a massive lifeline and the place has absolutely erupted. it's carnage. It's bedlam. It's 1-1." |
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| Reading on 14:31 - Apr 14 with 4508 views | RangersDave |
fecking hope Preston get in the shyte too.
They are well on my 'get fcuk'd' list, for obvious reasons. |  |
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| Reading on 15:56 - Apr 14 with 4367 views | Roller |
The P&S calculation is based on Earnings Before Tax (EBT) not Operating Profit. Typically Operating Profit would not include the profit made from player sales and in Reading's case the sale of their training ground and stadium. I still think that they would be in breach from numbers I've previously worked out on them, but there are two temporary changes to FFP which will see them get a stay of execution.
The assessment of the 2019/20 season has been postponed for one year and it will be assessed in conjunction with the 2020/21 season using an average of the two seasons. As clubs are required to submit management figures for the current season by 1st March each year, the initial assessments of these figures, alongside the 2017/18 and 2018/18 accounts should already be underway.
The other temporary changes to the P&S calculation is to the scope of the permitted adjustments to the EBT. In addition to the existing disallowable costs for items such as expenditure on youth development, community schemes and women’s football, for the 2019/20 and 2020/21 seasons costs directly attributable to Covid-19 can also be excluded. This not only covers costs such as making grounds and training facilities Covid secure and testing players and staff for Covid, but also lost revenue, such as ticket sales, sponsorship, advertising, hospitality and catering, from matches played behind closed doors. Derby's financial team have presumably found a whole host of new loop holes to exploit. |  | | |
| Reading on 18:34 - Apr 14 with 4171 views | derbyhoop |
What are the chances of the Football League taking points off multiple clubs for breaches of FFP rules.
We could be one of the few to start next season WITHOUT a points deduction. |  |
| Travel is fatal to prejudice, bigotry and narrow-mindedness, and many of our people need it sorely on these accounts. Broad, wholesome, charitable views of men and things cannot be acquired by vegetating in one little corner of the Earth all one’s lifetime. (Mark Twain)
Find me on twitter @derbyhoop |
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| Reading on 18:51 - Apr 14 with 4134 views | Rs_Holy |
| Reading on 18:34 - Apr 14 by derbyhoop |
What are the chances of the Football League taking points off multiple clubs for breaches of FFP rules.
We could be one of the few to start next season WITHOUT a points deduction. |
What are the chances that FFP will be not be counted this season because of Covid? |  | | |
| Reading on 19:05 - Apr 14 with 4095 views | Harbour |
They will probably sell the stadium to the owner for £80m and then rent it back to the club for £1k per month for 99 year lease...utter madness | | | |
| Reading on 19:21 - Apr 14 with 4035 views | enfieldargh |
| Reading on 12:41 - Apr 14 by BklynRanger |
6 points off sixth, 5 games to go. Not looking good. They need to get ready to 'get out in front of this'. Get some consultants in and thrash out an action plan stat. |
Readings fixtures
Cardiff H
Luton A
Swansea H
Norwich A
Hudd H
B'mth Fix
Norwich A
Millwall A
Brentford H
Wyc A
Stoke H
Barnsley
Cov A
Hudd A
Roth H
PNE A
Norwich H |  |
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| Reading on 19:44 - Apr 14 with 3966 views | Rog |
| Reading on 19:05 - Apr 14 by Harbour |
They will probably sell the stadium to the owner for £80m and then rent it back to the club for £1k per month for 99 year lease...utter madness |
They can't sell it twice can they?
https://www.getreading.co.uk/sport/football/football-news/expert-sends-financial
Reading were charged £1.5million for stadium rent by owner Dai Yongge in 2019/20. This is part of an annual payment which runs until 28 June, 2043. | | | |
| Reading on 19:56 - Apr 14 with 3925 views | Harbour |
Blimey did not realise they had already sold it...how many championship clubs actually own their own stadiums....seems a very risky strategy stop paying the rent get evicted ala Coventry. | | | |
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