The English Soccer League (EFL) has urged Studying proprietor Dai Yongge to both “fund the club adequately” or “make immediate arrangements to sell”.
Yongge has been fined an extra £50,000 by the EFL for failing to fund a deposit account to cowl the salaries of gamers and employees.
The membership have been hit with a collection of factors deductions and monetary penalties beneath Yongge’s stewardship and Saturday’s Sky Guess League One match in opposition to Port Vale was deserted after house supporters invaded the pitch to protest in opposition to the proprietor.
The EFL board will talk about Saturday’s occasions when it meets later this week, however the organisation additionally urged Yongge to both “fund the club adequately” or make “immediate arrangements” to promote the Royals.
A press release from the EFL learn: “As Studying FC supporters are solely too conscious, it has in latest months turn out to be more and more clear that Mr Dai Yongge is not ready – or doesn’t have the motivation – to assist the membership financially as he did following the change of management in 2017.
“In November 2023, the EFL known as for the disqualification of Mr Dai following the failure to fund the deposit account to cowl participant and employees salaries following repeated breaches of EFL rules.This was in the end rejected by an impartial disciplinary fee and a monetary sanction was imposed as a substitute.
“The EFL has now obtained affirmation that Mr Dai didn’t meet final Friday’s newest deadline to fund the deposit account as ordered, which means he has been in default for practically 4 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 imply that after once more the membership’s hardworking employees haven’t any reassurance as to cost of wages and demonstrates a transparent disregard for his obligations as a director of the membership.
“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.
“Within the meantime, and for the sake of the way forward for Studying FC, its employees, supporters, and area people, we urge Mr Dai both to fund the membership adequately or to make speedy preparations to promote his majority shareholding to applicable new house owners so everybody can transfer ahead with renewed optimism.
“For our half, we’ll work with Mr Dai, his group, and the membership plus any potential purchaser to navigate and meet the necessities of the rules as shortly as is bodily attainable and convey an finish to this troublesome interval for all events.
“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.
“Nevertheless, getting into the sphere of play is a felony offence and places the security of all contributors in danger. The EFL Board will talk about occasions at Saturday’s match throughout its assembly later this week because it has a duty to the League’s member golf equipment and the competitors to make sure all 72 golf equipment meet the necessities of the foundations as beforehand agreed by EFL golf equipment.
“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.”