<\/p>\n
Reading made headlines for the wrong reasons once again on Saturday when their League One clash with Port Vale was postponed due to fan protests.<\/p>\n
It is the latest in a string of alarming incidents surrounding the former Premier League outfit, who are facing an incredibly uncertain future.<\/p>\n
We assess how things got so bad in Berkshire.<\/p>\n
Established in 1871, Reading are one of the world\u2019s oldest football clubs and played in English football\u2019s top tier as recently as 2013.<\/p>\n
Their glory years came under John Madejski, who took over a third-tier outfit in 1990 and oversaw 22 years of fantastic progress on and off the field.<\/p>\n
By the time he sold up, the club were established as a yo-yo side between the top two divisions and boasted a 24,000 all-seater stadium.<\/p>\n
Madejski was succeeded by a Russian-backed consortium in 2012, who sold up again five years later to current owner Dai Yongge.<\/p>\n
Yongge, who purchased Reading FC in 2017 alongside his sister Dai Xiu Li, is a Chinese businessman who made his riches through a family shopping mall business.<\/p>\n
His first football investment came 10 years prior to his involvement in Reading when purchasing Shaanxi Baorong Chamba in his homeland.<\/p>\n
Under Yongge\u2019s watch, Shaanxi were relocated to different cities twice before going bust in 2021.<\/p>\n
Financial issues have plagued Yongge\u2019s time in charge of Reading, leading to several points deductions.<\/p>\n
The Royals were docked six points in November 2021 for exceeding the EFL\u2019s permitted financial loss limit and another six last term after Yongge wavered from a pre-arranged business plan.<\/p>\n
The latter contributed to the club\u2019s relegation to the third tier and sadly, the trend has continued in 2023-24.<\/p>\n
\nEFL Statement: Mr Dai Yongge<\/p>\n
\u27a1\ufe0f https:\/\/t.co\/1vhvOaHQMY#EFL<\/a> pic.twitter.com\/MJtcEzAXRB<\/a><\/p>\n
\u2014 EFL Communications (@EFL_Comms) January 15, 2024<\/a><\/p>\n<\/blockquote>\n
A one-point punishment was incurred in August 2023 for a failure to pay staff wages and a further three points followed in September when Yongge ignored an EFL request to place emergency funds into a bank account.<\/p>\n
That is not to mention two winding-up petitions from HMRC which have been narrowly staved off, staff being made redundant and reports of players bringing in their own microwave meals.<\/p>\n
Is Dai Yongge being punished for his conduct?
The EFL called for the disqualification of Yongge in November but an independent commission rejected the request, serving him with a fine instead.<\/p>\nHowever, a fresh statement this week from the governing body says the EFL \u201cwill not hesitate\u201d to sanction him further and urged the businessman to either back the club properly or sell up immediately.<\/p>\n
Reading fans have been protesting for some time, with their most recent game postponed after disgruntled protesters stormed the pitch in the first half.<\/p>\n
Worried supporters hope action will draw more attention to their plight in the hope of possible government intervention.<\/p>\n
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