CONFRIMATION of the CONFIMRED

[SouthDownsRoyal]

Tim Dellor posted update on X

Be nice if you posted the update

[SouthDownsRoyal]

A @ReadingFC update. I’m told still lots of work to do if deal to be finalised within 10 days. Rob Couhig believes he can take over in that time, but EFL need convincing he has required funds and 2 year plan, and there’s a final meeting with DY to agree final terms pending. I’ll have more on @BBCSport later, but as we know it’s a consortium - Chiron. Other’s waiting in the wings if there’s an opportunity. Couhig looking at how can reduce costs/losses @ReadingFC. Has met players and staff and will keep RS in place.

https://x.com/TimDellor/status/1813907699953983828
https://x.com/TimDellor/status/1813909733050380530

Thank you

[Sutekh]

That's what I've heard, but with the additional nugget that the EFL wants not just a 2 year plan but also 2 years cash in an account in advance. The last minute details to be sorted with Dai are, I'm told, relatively minor.

Appropriately named comment. The EFL making up Goalposts to scupper us. Surely there's no precident for anyone stumping up 2 years of funding, especially when a lot of clubs rely on transfer revenue for future funds.

They can’t expect the full cost of running a club for 2 years to be put into an account.
I could understand if a 2 year plan indicates a shortfall between income and expenditure and the EFL Want that amount covered.
If the consortium then maximise revenue and/ or minimise costs they may never need to touch the cash.

The FL have to be careful with their demands as if those demands cause a deal to collapse and put a club at risk of going the same way as Bury they are going to be very heavily criticised (of course if Reading was a "name" then they'd more than like be very flexible over any "requirements").

Really hoping this gets over the line so we can get on with pretending we're a normal club again.

[blythspartan]

Back in the UK next week and at least it sounds like more positive news on the takeover.

On a separate note there was a tweet from someone connected with the club a few weeks ago and it mentioned that if our academy is downgraded twice, we won’t be able to get our category 1 status back. Anyone know if that’s true? Pretty sure Couhig will want to downgrade it again, which I get.

[Crusader Royal]

Back in the UK next week and at least it sounds like more positive news on the takeover.

On a separate note there was a tweet from someone connected with the club a few weeks ago and it mentioned that if our academy is downgraded twice, we won’t be able to get our category 1 status back. Anyone know if that’s true? Pretty sure Couhig will want to downgrade it again, which I get.

Possibly a difference between being downgraded because you fail an inspection and voluntarily dropping a category.
Failing twice might be a legitimate reason to suggest you aren’t suitable to run a Cat 1….

[WestYorksRoyal]

If you observe wider EFL clubs, how much worse is Category 2? Alex Scott coming out of Bristol City is one example I can think of. P'boro have a great academy and have never been Cat 1.

My understanding is to have Cat 1, you need a vast scale of operations which costs a lot, but does that have a bearing on your culture and the standards you set? I know it makes it easier for others to poach your talents, but doesn't this happen to us anyway?

[blythspartan]

Back in the UK next week and at least it sounds like more positive news on the takeover.

On a separate note there was a tweet from someone connected with the club a few weeks ago and it mentioned that if our academy is downgraded twice, we won’t be able to get our category 1 status back. Anyone know if that’s true? Pretty sure Couhig will want to downgrade it again, which I get.

Possibly a difference between being downgraded because you fail an inspection and voluntarily dropping a category.
Failing twice might be a legitimate reason to suggest you aren’t suitable to run a Cat 1….

Ahh right, that would make sense, cheers.

[blythspartan]

If you observe wider EFL clubs, how much worse is Category 2? Alex Scott coming out of Bristol City is one example I can think of. P'boro have a great academy and have never been Cat 1.

My understanding is to have Cat 1, you need a vast scale of operations which costs a lot, but does that have a bearing on your culture and the standards you set? I know it makes it easier for others to poach your talents, but doesn't this happen to us anyway?

My view is if we need to downgrade to Cat 2 or 3 so be it. Whatever it takes for the club to survive and become more sustainable.

[Linden Jones' Tash]

Assuming what we're reading is true; Chiron + Couhig + cost saving strategy.

Kinda implies they aren't gonna generate value by seeking promotion but more by financial restructuring

This isn't a long term strategy - which makes me think we may well be going through this whole rigmarole again in 18 months or so....

[Crusader Royal]

Assuming what we're reading is true; Chiron + Couhig + cost saving strategy.

Kinda implies they aren't gonna generate value by seeking promotion but more by financial restructuring

This isn't a long term strategy - which makes me think we may well be going through this whole rigmarole again in 18 months or so....

I’d think a little longer than that
And probably with a much more professional approach to the selling process and a more saleable product.

[WestYorksRoyal]

Assuming what we're reading is true; Chiron + Couhig + cost saving strategy.

Kinda implies they aren't gonna generate value by seeking promotion but more by financial restructuring

This isn't a long term strategy - which makes me think we may well be going through this whole rigmarole again in 18 months or so....

I’d think a little longer than that
And probably with a much more professional approach to the selling process and a more saleable product.

Yeh, this. Make us more attractive to more ambitious owners, hopefully. Plus how nice will it be simply not to have uncertainty every payday. Even what is described is a massive improvement.

[Wycombe Royal]

So basically we will be run how most clubs in the EFL are run.

Don't see much problem with that.

[Sutekh]

I'll miss the tennis balls.

[Orion1871]

Isn't it good that the EFL are being firm with buyers? If you're not willing to commit to stabilising us over 2 years, what are you doing buying us? This ensures we'll be more secure, and if this group can't meet their demands there are other interested parties.

Wasn't the world meant to cave in for Everton if 777 were blocked, but now they're on a path to a better owner.

Yeah about that.

[David Ornstein] The Friedkin Group takeover of Everton is off. TFG in exclusive talks for last 4wks but withdrew from negotiations yesterday due to concerns about debt to previous proposed buyers 777. Puts #EFC back in precarious position. By @mjshrimper @TheAthleticFC

[From Despair To Where?]

Assuming what we're reading is true; Chiron + Couhig + cost saving strategy.

Kinda implies they aren't gonna generate value by seeking promotion but more by financial restructuring

This isn't a long term strategy - which makes me think we may well be going through this whole rigmarole again in 18 months or so....

Isn't that pretty much what SJM did when he bought the club?

[WestYorksRoyal]

Isn't it good that the EFL are being firm with buyers? If you're not willing to commit to stabilising us over 2 years, what are you doing buying us? This ensures we'll be more secure, and if this group can't meet their demands there are other interested parties.

Wasn't the world meant to cave in for Everton if 777 were blocked, but now they're on a path to a better owner.

Yeah about that.

[David Ornstein] The Friedkin Group takeover of Everton is off. TFG in exclusive talks for last 4wks but withdrew from negotiations yesterday due to concerns about debt to previous proposed buyers 777. Puts #EFC back in precarious position. By @mjshrimper @TheAthleticFC

Still think things would have been no better had the PL just given the green light to 777. I know we all just want this saga to end, but I'm glad the EFL are setting a high bar.

If Everton get into real crisis I guess we'll see a regulator more quickly. Big enough to drive change, unlike little old Reading.

[WestYorksRoyal]

Assuming what we're reading is true; Chiron + Couhig + cost saving strategy.

Kinda implies they aren't gonna generate value by seeking promotion but more by financial restructuring

This isn't a long term strategy - which makes me think we may well be going through this whole rigmarole again in 18 months or so....

Isn't that pretty much what SJM did when he bought the club?

SJM went further in growing the club, incurring up front losses to do so. Whereas here, it looks like a cheaper clean up operation to then have a club with the potential but not the financial mess to sell on. With luck, the next owner will have the ambitious growth agenda.

[Linden Jones' Tash]

Assuming what we're reading is true; Chiron + Couhig + cost saving strategy.

Kinda implies they aren't gonna generate value by seeking promotion but more by financial restructuring

This isn't a long term strategy - which makes me think we may well be going through this whole rigmarole again in 18 months or so....

Isn't that pretty much what SJM did when he bought the club?

SJM went further in growing the club, incurring up front losses to do so. Whereas here, it looks like a cheaper clean up operation to then have a club with the potential but not the financial mess to sell on. With luck, the next owner will have the ambitious growth agenda.

Chiron's aim is transparent - to flip a former premier league club acquired at a knock down rate.

The hope, from a fan who enjoys winning and challenging for honours, was that this would mean getting the club out of L1 to grow value via increased revenue potential.

The mood music seems to be cut costs to reduce the losses...

Finding someone to fund £10M of losses per season just to stand still in L1 was always a big ask..

[From Despair To Where?]

Assuming what we're reading is true; Chiron + Couhig + cost saving strategy.

Kinda implies they aren't gonna generate value by seeking promotion but more by financial restructuring

This isn't a long term strategy - which makes me think we may well be going through this whole rigmarole again in 18 months or so....

Isn't that pretty much what SJM did when he bought the club?

SJM went further in growing the club, incurring up front losses to do so. Whereas here, it looks like a cheaper clean up operation to then have a club with the potential but not the financial mess to sell on. With luck, the next owner will have the ambitious growth agenda.

But his initial remit was to stop the club haemorrhaging a reported £60,000 a week (a mind boggling sum for a Division 3 club in 1991) and he did it by making cuts and reorganising the infrastructure. It was only when he achieved this that he was able to build.

Its exactly what the new owners have to do. Who or how the next step occurs is irrelevant, the first step is exactly the same.

[Snowflake Royal]

Back in the UK next week and at least it sounds like more positive news on the takeover.

On a separate note there was a tweet from someone connected with the club a few weeks ago and it mentioned that if our academy is downgraded twice, we won’t be able to get our category 1 status back. Anyone know if that’s true? Pretty sure Couhig will want to downgrade it again, which I get.

Possibly a difference between being downgraded because you fail an inspection and voluntarily dropping a category.
Failing twice might be a legitimate reason to suggest you aren’t suitable to run a Cat 1….

Seems pretty daft if each time you then get it back to standard. And it would have to be time bound.

Otherwise the whole thing becomes a farce.