Reading owner Dai Yongge has been fined a further £50,000 by the EFL for failing to cover the salaries of players and staff; Saturday’s League One match against Port Vale abandoned after home fans invaded the pitch to protest against the owner
Monday 15 January 2024 19:46, UK
The English Football League (EFL) has urged Reading owner Dai Yongge to either "fund the club adequately" or "make immediate arrangements to sell".
Yongge has been fined a further £50,000 by the EFL for failing to fund a deposit account to cover the salaries of players and staff.
The club have been hit with a series of points deductions and financial penalties under Yongge's stewardship and Saturday's Sky Bet League One match against Port Vale was abandoned after home supporters invaded the pitch to protest against the owner.
The EFL board will discuss Saturday's events when it meets later this week, but the organisation also urged Yongge to either "fund the club adequately" or make "immediate arrangements" to sell the Royals.
A statement from the EFL read: "As Reading FC supporters are only too aware, it has in recent months become increasingly clear that Mr Dai Yongge is no longer in a position - or does not have the motivation - to support the club financially as he did following the change of control in 2017.
"In November 2023, the EFL called for the disqualification of Mr Dai following the failure to fund the deposit account to cover player and staff salaries following repeated breaches of EFL regulations.This was ultimately rejected by an independent disciplinary commission and a financial sanction was imposed instead.
"The EFL has now received confirmation that Mr Dai did not meet last Friday's latest deadline to fund the deposit account as ordered, meaning he has been in default for nearly four months.
"As a result - and as per the terms of the December 15 decision - a further £50,000 fine has now been imposed, taking the total to £80,000.
"His continued failings mean that once again the club's hardworking staff have no reassurance as to payment of wages and demonstrates a clear disregard for his obligations as a director of the club.
"In respect of this issue, the League will now consider all available options it has under the regulations and will have no hesitation in bringing further charges against Mr Dai.
"In the meantime, and for the sake of the future of Reading FC, its staff, supporters, and local community, we urge Mr Dai either to fund the club adequately or to make immediate arrangements to sell his majority shareholding to appropriate new owners so everyone can move forward with renewed optimism.
"For our part, we will work with Mr Dai, his team, and the club plus any potential purchaser to navigate and meet the requirements of the regulations as quickly as is physically possible and bring an end to this difficult period for all parties.
"What followed the events at the end of last week were the unfortunate scenes on Saturday afternoon that led to the abandonment of the fixture versus Port Vale, and further demonstrated the impact the current situation is having on everyone associated with the club.
"However, entering the field of play is a criminal offence and puts the safety of all participants at risk. The EFL Board will discuss events at Saturday's match during its meeting later this week as it has a responsibility to the League's member clubs and the competition to ensure all 72 clubs meet the requirements of the rules as previously agreed by EFL clubs.
"Finally, the League has been in regular dialogue with the Supporters Trust at Reading (STAR) in recent months and has always made - and will continue to do so - itself available to recognised supporters' groups to discuss challenging situations and, regarding current matters involving Reading, has arranged to meet with representatives of a number of groups in the next 24 hours."
