Only 3? Not at all surprised, well slightly surprised they didn't get away with no points deduction if I'm honest.
They'll pay the wages in another 2 weeks or something like previously, you'd think they'd just pay them on time to avoid this, complete idiotic situation
It's for failing to put an amount equal to 125% of the wages into an account by a certain date. Not for non payment of wages
They had a one point deduction with a further three points suspended earlier in the season. They had until yesterday to deposit 125% of the forecast monthly wage bill for September into a designated account otherwise the already given sanction would be applied. They didnt, so the three points have been taken. It won’t be the last this season I’d wager.
Reading, writing & arithmatic... https://www.youtube.com/playlist?list=PLI6kLIhBBwmRtJBX-ENpxj8HjlGaDHkvz They were support for Throwing Muses & me & my ex wife were in the qucue to see them. It was the week "This I Where The Story Ends Charted". Got in & was a special gig at the Leadmill, Sheffield.
It makes me hope then, that they/the Efl will be this lenient on us, when it all comes out in the wash!.
Just popped up on FB as a trivia question that the owner has taken more points off them since 2021 than any other team. Believe they are also the first team to be deducted 3 seasons in a row
3 points is for failing to deposit 125% of monthly wages into a seperate bank account in time. Just read the notes on this and Readings defence is basically: The owner has been regularly transferring money to the club as needed. They repeatedly requested the monies but he never paid it. Therefore it’s not the clubs fault but the owners and he should be penalised separately.
Losses of £125m in total over the last four years to 2022, staggering financial mismanagement. To give them credit payroll to turnover has reduced, over the period from 199% to 150%, although it did peak in 2021 at 234%. Total combined losses of £191m and debt of £83m. I thnk points deductions are the least of their problems. Hand the keys back and walk away. But then again they sold the stadium so no keys either.They make our friend in S6 look truly parsimonious.
Interesting that there's no reference to the requirement for the deposit to be placed into a separate bank account as being ongoing. If it was required before and points have been deducted for non-compliance then surely the EFL must explain the further implications if it doesn't happen. They can't just let it slide can they? Another example of the 'fit and proper persons test' itself not being fit for purpose.
I think the idea was the ‘deposit’ worked as a guarantee to ensure people got paid on time and didn’t envisage it actually being needed. Which in its self is bizarre given the historical issues and the fact the club had admitted they are reliant on the owner to fund regular and that he keeps not doing it. 100% clearly the fit and proper test is nonsense. Read somewhere else the owner was turned down by the PL as a fit and proper person when he tried to buy Hull.
For a team in big financial difficulties like them I wonder what would happen contract wise if they were relegated due to points deductions. If their players are all on massive contracts but have fairly big relegation wage drop clauses then could deliberately getting points deductions to drop down a league actually make them a shed load of money?
