CONFRIMED: Latest rumours Confrimed as Unconfrimed

[Sutekh]

Donald Trump has put in a bid of £100m It's the only way he can make himself a life President

[Clyde1998]

Football club worth is based mainly around division, because that dictates income. A 24k seater stadium in L1 is worth less than in the Championship, because in L1 its half empty but you've still got to maintain it fully. It doesn't have much inherent value when it's somewhat protected from redevelopment and built on a shit tip of contaminated land. Yes the contamination was cleaned to the level required for sports facilities, but that's lower than tuings like housing.

Likewise a state of the art training ground doesn't really contribute to income. Its value is basically its redevelopment potential.

As a L1 club our facilities are as much burdens as benefits.

I think the value of the stadium when it comes to the value of the club overall is in potential. Hypothetically, a new owner could come in, get back-to-back promotions and nothing (major) would need to be done to the stadium.

A large percentage of clubs in League One would be required to spend a lot on their facilities in order for them to be suitable for regular Championship (or higher) football. An extra £5-10m on the value of the club due to the stadium is probably justified, given a new owner wouldn't have to pay that or more on upgrades or a new ground once they control the club.

[Crusader Royal]

Dellor reporting on radio that Dai is considering 4 bids in next 48 hours, 3 pre Couhig and one new.

The not so good news is that the money runs out mid November.

Very mixed news. Presumably he didn't have anything to comment on this Blue River company, so could be bollocks or they could be the 4th bidder.

The optimist in me sees no reason why it can't be done by mid November when the funding runs out, given all the due diligence is done. EFL checks will be the biggest hurdle.

£5 says the new bidder is Dai's mate just trying to push up the price for other bidders.

I can’t see it becoming an auction.
A fake bidder is more likely to drive other interest away than boost the price.
The danger with having a stooge in the auction room is they might end up being the last person I. The room with their hand raised.
If Dai owes this guy money I could see him trying to pass on the club as part of repaying the debt.
Not sure how pleased I would be if someone who owed me money offered a loss making project as repayment though.

[RoyalBlue]

Dellor reporting on radio that Dai is considering 4 bids in next 48 hours, 3 pre Couhig and one new.

The not so good news is that the money runs out mid November.

Very mixed news. Presumably he didn't have anything to comment on this Blue River company, so could be bollocks or they could be the 4th bidder.

The optimist in me sees no reason why it can't be done by mid November when the funding runs out, given all the due diligence is done. EFL checks will be the biggest hurdle.

The 'only' due diligence that has taken place is that initiated by previous interested parties. That will probably cover off all of the basic stuff. Indeed, if their lawyers and accountants did their job properly, it should. However, potential buyers may well have additional or more detailed questions that haven't been covered off. In fact, given some the the things said by one spurned potential buyer regarding their findings, reported 'very complex company structuring', the problems that arose in the latter stages of the Couhig negotiations and the subsequent collapse of what was pretty much announced as a 'done deal', I would think it highly likely that anyone who might still be interested will want to dig a lot deeper.

I dearly want to be proved wrong but I think it highly likely that a deal, if there ever is one, won't be concluded this year.

[RoyalBlue]

Donald Trump has put in a bid of £100m It's the only way he can make himself a life President

The only funny thing in this whole miserable saga!

[Orion1871]

Donald Trump has put in a bid of £100m It's the only way he can make himself a life President

Frankly what is happening to our soccer club is terrible. Many people have come up to me, big guys wearing XL fleeces, tears in their eyes. They're saying thank you Mr Trump for saving us from the Jynese.

[Pepe the Horseman]

Donald Trump has put in a bid of £100m It's the only way he can make himself a life President

Frankly what is happening to our soccer club is terrible. Many people have come up to me, big guys wearing XL fleeces, tears in their eyes. They're saying thank you Mr Trump for saving us from the Jynese.

EFL: Do you have a business plan?
Big Don: I have concepts of a business plan.

[Biscuit goalie]

EFL: Do you have a business plan?
Big Don: I have concepts of a business plan.

[Uke]

Dellor reporting on radio that Dai is considering 4 bids in next 48 hours, 3 pre Couhig and one new.

The not so good news is that the money runs out mid November.

Very mixed news. Presumably he didn't have anything to comment on this Blue River company, so could be bollocks or they could be the 4th bidder.

The optimist in me sees no reason why it can't be done by mid November when the funding runs out, given all the due diligence is done. EFL checks will be the biggest hurdle.

So three bids already binned off plus his mate?

Still reckon we'll eventually be seeing the return of Couhig with the bid "miraculously" getting accepted after an additional full stop is added to the contract.

This is just posturing by Dai

[Rax]

Dellor reporting on radio that Dai is considering 4 bids in next 48 hours, 3 pre Couhig and one new.

The not so good news is that the money runs out mid November.

Very mixed news. Presumably he didn't have anything to comment on this Blue River company, so could be bollocks or they could be the 4th bidder.

The optimist in me sees no reason why it can't be done by mid November when the funding runs out, given all the due diligence is done. EFL checks will be the biggest hurdle.

So three bids already binned off plus his mate?

Still reckon we'll eventually be seeing the return of Couhig with the bid "miraculously" getting accepted after an additional full stop is added to the contract.

This is just posturing by Dai

To be fair, the Couhig bid being ressurected would be the best outcome, given it was green lighted by the EFL as well.

[leon]

Dellor reporting on radio that Dai is considering 4 bids in next 48 hours, 3 pre Couhig and one new.

The not so good news is that the money runs out mid November.

Very mixed news. Presumably he didn't have anything to comment on this Blue River company, so could be bollocks or they could be the 4th bidder.

The optimist in me sees no reason why it can't be done by mid November when the funding runs out, given all the due diligence is done. EFL checks will be the biggest hurdle.

So three bids already binned off plus his mate?

Still reckon we'll eventually be seeing the return of Couhig with the bid "miraculously" getting accepted after an additional full stop is added to the contract.

This is just posturing by Dai

I've had this feeling as well

[RG30]

Reading Football Club can provide an update to all stakeholders, especially its supporters, regarding the ongoing sales process and transfer embargo status.

The Club can confirm it has agreed to a period of exclusivity with a potential purchaser. Both parties are working hard to finalise terms with the intention to complete a sale at the earliest opportunity. This exclusivity period also includes further provision to fund the club until the transaction’s intended completion.

The proposed sale will include Mr Dai’s shareholding in The Reading Football Club Limited, as well as the Select Car Leasing Stadium and Bearwood Park Training Ground.

As of today, the Club can also confirm that - alongside the requirement to operate under the terms of its business plan - it has today been placed under a formal registration embargo by the EFL (English Football League).

This embargo has been implemented, as per EFL regulations, due to the late filing of financial accounts to Companies House, and relates to the 2022-23 accounting period. We are working closely with our auditing partner to finalise these accounts at the earliest opportunity – at which point the embargo will be lifted immediately.

Further developments for both the takeover and embargo status will be communicated at the earliest opportunity, and the Club and would like to thank all supporters and staff for their patience during this time.

[Sanguine]

Fcuk me. The 23-24 tax year finished six months ago. There is no reasonable excuse whatsoever for the 22-23 accounts to be late. None.

[Pepe the Horseman]

I'm old enough to remember when we used to get excited about exclusivity.

[Greatwesternline]

Fcuk me. The 23-24 tax year finished six months ago. There is no reasonable excuse whatsoever for the 22-23 accounts to be late. None.

There is if your auditor refuses to sign off your going concern basis and therefore insists you need to prepare the accounts on the break up basis.

[Pepe the Horseman]

Fcuk me. The 23-24 tax year finished six months ago. There is no reasonable excuse whatsoever for the 22-23 accounts to be late. None.

There is if your auditor refuses to sign off your going concern basis and therefore insists you need to prepare the accounts on the break up basis.

Can you explain this like you're talking to a 5 year-old?

[WestYorksRoyal]

Fcuk me. The 23-24 tax year finished six months ago. There is no reasonable excuse whatsoever for the 22-23 accounts to be late. None.

There is if your auditor refuses to sign off your going concern basis and therefore insists you need to prepare the accounts on the break up basis.

Can you explain this like you're talking to a 5 year-old?

Accounts are normally prepared on the assumption that the company will still be trading in 12 months, hence as a "going concern". If you do not expect the company to exist in 12 months, you prepare it on a "break-up basis" that treats all assets as current assets to be liquidated and sold for cash (including things like Bearwood).

If your auditor doesn't agree that you're a going concern, that is a massive disagreement which would materially impact how users interpret your accounts. Therefore, the auditor is within their rights to issue a report which basically says the accounts are nonsense.

In our situation, the logical thing to do would be to wait until a takeover is complete, funding is in place and then the auditor will agree that we're a going concern.

If we run out of road with that approach, the alternatives are to prepare accounts on a break up basis or file accounts with an adverse audit opinion.

[Hound]

Well it’s obviously positive news with the massive caveat of seeing it all before. Waiting now for the ITks to let us know who it is

[Who Moved The Goalposts?]

Well it’s obviously positive news with the massive caveat of seeing it all before. Waiting now for the ITks to let us know who it is

Well I bet it's got Blue somewhere in their name

If there's a River in there as well, we may as well just pack up now.

[Hendo]