Reading were placed under an embargo this past week after failing to pay a ‘significant’ amount to HMRC on time yet again, as first reported by the Reading Chronicle.
The embargo came just under a month after the Royals were handed a winding-up petition, again, for failure to pay HMRC on time. Now, further details are emerging of Reading’s embargo, causing a dark cloud to loom over the club.
Journalist Lewis Coombes has revealed that no fees or loan fees can be paid by Reading for the next three transfer windows, including the current one. Furthermore, a wage restriction of £1.5k per week will apply while the debt to HMRC remains.
Reading supporters will undoubtedly be gutted by the news. Having been relegated last season from the Championship to League One, there seems to be no end to the pain being endured by fans under the ownership of Dai Yongge.
Rubén Sellés may also feel hard done by, having been appointed earlier in the month under the hopes that the club could complete up to 10 new signings before the season commenced.
Unfortunately for the former Premier League head coach, just four players have been added to the squad thus far, including Manchester United academy graduate Charlie Savage.
League One certainly isn’t as strong as last season, with the loss of Ipswich Town, Plymouth Argyle and Sheffield Wednesday to the Championship.
However, there will still be immense competition in the division and Reading’s four-player catch won’t be enough to see the club bounce back to the second tier.
With a three-window ban on fees and loan fees, it could be a bumpy few seasons for the ex-Premier League side.