Those of us keeping an eye on Reading as the next possible club in crisis might want to have a gander at this FT article. https://www.ft.com/content/681342ec-251f-11e7-8691-d5f7e0cd0a16
What's it say? (Paywall). We need to create a thread for Brum, Pigs, Derby, Reading and others which we can link evidence to. Think they'll be plenty of stories over next 6 months. I think next season will be more about action off the pitch than on it. Expect other clubs being exposed.
Sorry - it let me in. To sum up: Tried to buy Hull when in prem. FA raised a red flag cos they couldn't understand the complex financials of the buyer. Buyers made their money by turning Chinese air raid shelters into shopping malls. Seriously. That business apparently went through a downturn. Question marks about corporate governance. They moved onto to Reading. Said they'd restructured the purchase. EFL said ok, but apparently limited flow of info between Pem and EFL. Leeds based solicitor pleaded for the buyer to get a fair press, but then would not confirm that he actually represents them. Which some documents suggests he does. Nobody would offer the FT a statement. They buy Reading. Wage bill is colossal. Hope that helps.
