Royals accept six point punishment following Profit & Sustainability limit breach
Reading Football Club can confirm that we have accepted a penalty of a six point deduction as a result of exceeding the EFL’s Profit and Sustainability limits.
The points deduction will be applied to our total with immediate effect.
A further six point penalty has been suspended until 2022-23. This will be applied if the club cannot fulfil an agreed business plan going forward.
The breach of regulations was calculated across a period of four years, two of which were unavoidably yet significantly impacted by the COVID-19 pandemic.
While there are undeniably extenuating and unforeseeable circumstances that have contributed to this breach, we accept this to be a fair and reasonable punishment and will learn the lessons from our recent past which have resulted in this deduction.
We would like to take this opportunity to thank the EFL for their co-operation, professionalism and positive, open dialogue throughout this process.
Our owner, Mr Dai Yongge, remains wholeheartedly committed to the club.
While travel restrictions have limited his opportunity to follow the team in person at the Select Car Leasing Stadium during the pandemic, he has watched every match live via Royals TV or international TV broadcast to Asia. However, he was at Bearwood Park watching training this morning, having flown in from Hong Kong, and he will be at the stadium to watch us take on Nottingham Forest on Saturday.
His commitment to our club remains unequivocal; having supported the club throughout a period of unprecedented disruption when key revenue streams for all clubs were suddenly severed, his investment has been overtly evident to all who visit our new multi-million pound Bearwood Park training complex - an environment tailored to attracting the best players to our club, helping our existing players flourish and ensuring our developing young players can reach their maximum potential.
We also know our supporters will remain committed.
In our anniversary season, we are reminded of this club’s incredible history. The hurdles it has overcome, the adversity it has faced and the success it has enjoyed as a direct result of tackling every twist and turn together.
Lessons will be learned. Now is the time to come together.
So, with two important home fixtures on the horizon, now we ask our fans to get firmly behind our first team as we collectively look to move forward with positivity and renewed purpose.
Thank you, as always, for your support.
Owner Mr Dai Yongge said, “As the owner of your club, I am naturally dismayed and disappointed to accept the punishment issued by the EFL. And as a fan, I too am hurt by a deduction of six points this season. However, my determination to succeed has not diminished but has amplified.
“My team and I believe this settlement is just and will still enable us to be competitive as a football club this season and beyond. So, in the short-term, our aim is to fight for every point there is to fight for this season.
“In the long-term, we pledge to fix the issues of the past and together build a club capable of competing with the very best and challenging for honours. But we can only do that with your support, so I would like to personally thank you for your loyalty to your club! It is truly appreciated by all who cheer on the Royals.”
