Reading have received positive news regarding the current plight they face, as it has been announced the club is no longer under a transfer embargo. The news has been confirmed by Lewis Coombes of BBC South via his Twitter.
The 2022/23 campaign led to disappointment for Reading. After parting company with manager Paul Ince, the club found themselves finishing the season without a manager. They were handed a six-point deduction by the EFL in April, which ultimately saw the club relegated to League One, a division they had not seen in 21 years.
Things went from bad to worse for the Royals, as the club was also punished for not paying their players on time. This occurred three times throughout last season. The 23rd of June saw another development in the saga, as the club was then hit with a charge for non-payment of tax by HMRC. A situation that could see the club face administration in the worst case.
These charges from the EFL led to the club being placed under a transfer embargo, with supporters calling for current owner Dai Yongge to sell the club. The Chinese businessman bought the club in 2017 after a failed bid to buy then-Premier League club Hull City in 2016. However, it has been revealed that the club is no longer operating under a transfer embargo, meaning they can sign players once again.
Yesterday it was reported that Reading were interested in the signings of two free-agent players, Mark Harris and Sean Clare, who had both been released last month. However, it was said that they faced roadblocks in pursuit of those players amidst the ongoing tax bill situation they faced with HMRC. The club were due in court on the 9th of August. They missed out on the signings of those players, as Mark Harris joined Oxford United and Sean Clare joined Wigan Athletic.
Writer’s View
It seems to be a step in the right direction for the Royals. However, it is unclear what this means for the situation. The tax bill issues did not affect the transfer embargo, which had been in place since last season. However, it means the Royals can start preparing for the season, which is a positive step, nobody wants to see another situation like Bury occur, and it certainly does seem the Royals could save themselves. But Dai Yongge selling the club is the best course of action for all parties involved.
