League One side Reading FC have been handed a 3 point deduction after owner Dai Yongge failed to deposit money into their account for monthly wages!
Dai Yongge was instructed by the EFL in August of this year to deposit 125% of the club’s wage bill into a designated account no later than Tuesday the 12th of September.
The EFL have declared that Yongge failed to meet this deadline, which has now earned Reading a 3 point deduction which will be introduced with immediate effect.
Surprisingly, this is NOT the first time this season that club has been docked points. They were also relieved of 1 point last month, also for failing to provide wages into the designated account on time!
In April, Reading also received a 6 point deduction for profit and sustainability rule breaches. This deduction contributed to their relegation from the EFL Championship.
Reading have released a statement saying that their Chinese owner remains “committed” to the club, and that he is actively looking for further investors to stabilise their monetary situation.
“Mr Dai is currently undertaking an ongoing process of seeking sources of stable external investment for the football club, with the aim of mitigating the risk of cashflow complications arising in the future”
The EFL also released their own statement surrounding the issue, reading:
“The EFL continues to acknowledge the negative impact sporting sanctions are having on the football club”
[We] remain extremely disappointed and frustrated at the club’s ownership to meet its ongoing obligations under EFL regulations.”
“The League will continue to apply its rules in all circumstances deemed appropriate.”
Reading FC now sit in 21st place in the League One table with just 2 points to their name – twice as many as they have had deducted for the season!