Reading Women dropped out of the Women's Super League for the first time since 2015; the men's side were also relegated from the Sky Bet Championship; Reading CEO Dayong Pang said: "Difficult but necessary financial decisions are being made across the business."
Tuesday 6 June 2023 12:16, UK
Reading Women will move to a part-time set-up following their relegation from the Women's Super League.
Kelly Chambers' side dropped out of the top flight for the first time since 2015 after being beaten on the final day of the season by Chelsea.
Reading finished bottom of the WSL, five points adrift of safety, which compounded a difficult season for the club which also saw the men's side relegated from the Championship and has resulted in a further realignment of its finances.
Reading CEO Dayong Pang said: "Difficult but necessary financial decisions are being made across the business following the club's relegation to League One last season and, after discussions with the FA, the decision to operate Reading FC Women on a part-time basis represents the most viable solution at the present time.
"We would like to acknowledge all of the hard work and unquestionable dedication to Reading Football Club of Kelly Chambers and her coaching staff, the players and all the staff. The club will now be working extremely hard to build a team to proudly represent our town in the WSL Championship in the 2023-24 campaign.
"Our owner, Mr Dai Yongge, has his full focus concentrated on our club's rebuild. He is fully committed to consolidating our efforts into a sensible and sustainable reset, designed to bring success back to RG2."
A statement from Reading explained how costs across the club have been cut "considerably" in recent years with the men's first-team wage bill halved since 2019 while owner Dai Yongge has invested approximately £6m into the women's side since 2018, who have competed against teams funded by Premier League clubs.
But that level of investment cannot continue in the second tier with Reading now focusing on "establishing a more sustainable model" for the women's side.
A statement from Reading added: "We recognise that the women's game is making huge progress. However, despite seeing a considerable spike in interest following the success of England's women in the Euros last summer, an increased average gate for Reading FC Women and a boost in sponsorship and broadcast revenue earned as a result, our owner still needed to provide just under £1m to finance Reading FC Women in 2022-23.
"In addition, relegation to the WSL Championship will result in a significant drop in broadcast fees and central funding from the FA.
"Now we focus on establishing a more sustainable model for Reading FC Women which can ensure that pathway for young female footballers can extend into competitive women's football played in the blue and white hoops of Reading Football Club."
