Reading protest group encouraged but left concerned as EFL speak out on owner Dai Yongge

Reading protest group ‘Sell Before We Dai’ are encouraged but left concerned as the EFL speak out on the club owner Dai Yongge.

Some refreshing news in sorts for the Royals as Dai Yongge gets fined and will be continually fined if he doesn’t fund the club, the EFL announced.

The English Football League wanted to banish him from football, but IDC pointed out this wouldn’t help with the funding.

Reading currently sit 23rd in the League One table with 15 points after 21 games played, deducted four points so far this season, and are four points from safety.

EFL Statement: Mr Yongge Daihttps://t.co/mrUaxqU0qU#EFL pic.twitter.com/CwpM2snE4d

— EFL Communications (@EFL_Comms) December 19, 2023

EFL STATEMENT:

In September 2023, the Reading FC owner Mr Yongge Dai was charged with misconduct after failing to comply with the order of an independent Disciplinary Commission which required him to deposit an amount equal to 125% of the Club’s forecast monthly wage bill in a designated bank account.

The matter was referred by the League to an independent Disciplinary Commission in accordance with its Regulations and at the hearing, which took place on 23 November 2023, the EFL put forward that Mr Dai should be disqualified from all football activity, including ownership and control, for a period of 12 months.

In its submissions, the EFL also made it clear that it did not feel a sporting sanction against the Club was appropriate in this case as this was direct action being taken against the owner.

On review of all the arguments, the independent Commission were ‘unimpressed’ by Mr Dai’s failure to provide detailed evidence as to the ongoing reasons for failure to pay and as to his future intentions but felt a disqualification would not achieve the immediate objective of sourcing the required funds for the deposit account.

Therefore, the Independent Commission has determined that Mr Dai be fined £20,000 with a further £50,000 suspended and to be activated on 12 January 2024 unless the required deposit is made in full. In addition, Mr Dai is required to maintain the deposit at the levels set out previously until, at the earliest, 31 August 2024.

It is clear that the Commission are critical of his handling of matters labelling it a ‘serious case ‘and ‘deliberate misconduct.’

It is hoped this latest financial sanction, and the threat of further monetary penalties will bring a resolution to the short-term issue of funding the deposit account, which in turn should provide some re-assurance to the management, staff, and players at the Club, who continue to act as outstanding ambassadors for Reading FC, despite the challenging circumstances.

The League will have no hesitation in bringing further charges against Mr Dai if he fails to comply with the Commission’s directive and is also ready to support the Club in quickly progressing a change of control at the Club once a purchaser has been identified.

SELL BEFORE WE DAI’S RESPONSE:

We are encouraged by the latest ruling from the EFL and the Independent Disciplinary Commission.

For the first time since this group was formed, the EFL has shown a willingness to punish an owner of a football club – rather than its players, staff and fans. Points deductions have contributed to our club’s downfall and at times, seemed like the only punishment the EFL were capable of enforcing. To see them recommend an alternative course of action should be viewed as a positive step.

In the ruling, Yongge Dai is labelled as ‘unimpressive’ and his behaviour classed as ‘deliberate misconduct’. He has been fined and will be fined again if he fails to deposit funds that secure the short-term future of the club.
While the EFL’s tough stance is welcomed, we have concerns about enforcement. As everyone associated with Reading Football Club can attest, Dai Yongge has never shown any respect for rules, we have little faith he will start now.

However, in calling for Mr Dai to be disqualified from all football activity, it is clear that the EFL have finally aligned to the thinking of the majority of Reading fans and the SBWD campaign.

There is no future for Mr Dai in English football. If he continues to delay deals, he will be continually hit in the pocket. He must sell now.

Lastly, we wish to say thank you to all the Reading fans – and fans from the wider footballing community – who have fought to challenge football’s ownership problem.

History has told us that these commissions normally result in points deductions, to see owner-focused sanctions come into play feels like a step towards more effective regulation.

This is what fans are saying with the Reading protest group encouraged but left concerned as the EFL speak out on owner Dai Yongge…

Not sure this is going to make any impact on Dai Yongge’s behaviour. Do the EFL not understand what percentage of £17 billion £20,000 is? I get clobbered for a far higher percentage of my earnings when I keep a library book a day too long.

— Tim Dellor (@TimDellor) December 19, 2023

Reading owner Yongge Dai fined £20k (£50k suspended) for failing to deposit wages or provide reasons why he couldn’t pay.

EFL pays tribute to club “staff and players who continue to act as outstanding ambassadors for Reading FC, despite the challenging circumstances.” https://t.co/yovKoHx15s

— The FSA (@WeAreTheFSA) December 19, 2023

I don’t know anyone connected with the club pleased with the verdict. I quite like the fact that the EFL are beginning to show their teeth though. “‘EFL will have no hesitation in bringing further charges against Mr Dai if he fails to comply with the Commission.” #readingfc

— James Earnshaw (@james_e1871) December 19, 2023

@maxiebadger: You are an absolute joke. You are part of these problems. Fuck the efl.

@CazParker1871: Worth noting that Dai could not provide sufficient evidence to the EFL as to why he cannot pay the bills… Kinda dispels the poor Dai hasn’t got any money myths.

@MatDevon: Absolute cop out. He is ruining our club and you are facilitating him doing so. Blood is on your hands #readingfc

@1871loudmouth: @EFL you just don’t get it do you? Absolute joke of an organisation £20,000 is like me dropping a penny on the floor!

@RFCmartire: While I applaud the understanding that sporting sanctions will be detrimental to the club and ineffective in resolving this matter, it is clear that the independent committee is totally out of touch and has no understanding of how ineffective these fines will be.

@AdamHumphries96: £20k fine for a billionaire. That’ll do the trick.

@marktheakston1: 20k is a pathetic amount, players get bigger fines for small offenses

@1871_GS: Oh no rich guy has to pay £20,000

@RobG57794390: Hang on a minute here. You docked Wigan points for the same offence. Where’s the parity? Shambles.

@_kieranbl: A multi millionaire who has single handedly destroyed a club gets a 20k fine. Make it make sense

@RFCmartire: I am hoping that #EFL have seen that applying sporting sanctions for owners misconduct is not the way forward. It is clear these sanctions should be reserved for matters of sporting misconduct. I hope that we have turned a new page for the EFL and all football clubs

@longlaneroyal: The @EFL and their bed partners have bottled it yet again!

@iJC106: Fuck off Dai, fuck off @EFL for allowing him to own our club in the first place but at least now they finally tried to push to get him to sell. But the independent board decided that was too stupid an idea so we’re still stuck with the bastard!!!!

@_SimonL1793: Ban him from all footballing activity before the club dies. Bloke is a fucking parasite 🤬

@HMacca97: EFL have issued a billionaire with a fine of £20k 🤡

@nathjnzy: fining a bloke 20 grand who’s worth hundreds of millions is pennies

@alisterrfc1: What will that do that will do nothing to him ban him from football

@deanocx: Fair play to everybody involved in the contest protests and not stopping, this has clearly – maybe for the first time ever – forced the EFL’s hand big time.

@LittleG27383051: Totally bottled it

@Wppsreborn: You fucking what!??!! So, the exact same offence as Wigan’s previous owners, but no sanction against the club, whereas we got done 8 points. You make it up as you go along. Absolute shambles

@m1871e: Ridiculous. Should be in prison let alone fined. Complete fraudster

@Dan_RFC2006: Realistically that’s absolutely nothing to him. Should have got the 12 month ban

@MikePea73444529: Pointless. We have been hammered as a football whereas he has barely been punished.

@Readingfan106: £20k with £50k suspended, what a joke!

@SimonFrost3: Like fining me 20p.

@royalex_B: Wtf, one weeks wages for one player as a fine for a billionaire with little to no care

@JoshSB91: Just like most governing bodies in football. Fucking useless

@deanocx: Rich man fined fuck all, load of rubbish. Only positive is that we’re not getting another deduction.

@Buster_5265: Absolutely baffling decision, this will have zero effect. Force him to sell up and get out is the only logical decision here – when you fail to pay players and staff THIS OFTEN then you have to be kicked out.

@RFCJoeJ: What in the world…

@danieljcross: His house is for sale for £45m. £20k is nothing to him.

“We don’t want to sanction the club, so instead we will fine the owner(who already isn’t paying the bills) which will make him less likely to keep paying the bills” #ReadingFC https://t.co/Jg2gqa5hCr pic.twitter.com/O6aCRdNDwk

— Tatum 🏴󠁧󠁢󠁥󠁮󠁧󠁿 (@Tatum1871) December 19, 2023