Reading: EFL says it is 'reviewing' the finances of Championship side
- Published
Championship side Reading had a second points deduction put on hold until the end of the current 2022-23 season
The English Football League says it is reviewing Reading's finances amid reports the Championship club is about to receive a six-point deduction.
The punishment would see the club drop from 14th in the table to 19th, and seven points above the relegation zone.
The Royals were deducted six points for breaching financial rules in 2021.
A further six-point deduction was suspended until the end of 2022-23 provided they hit targets outlined in a business plan agreed with the EFL.
"In November 2021, the EFL and Reading Football Club reached an Agreed Decision in respect of the club's failure to comply with the league's profit and sustainability rules," an EFL statement said.
"As part of the decision, the club is required to comply with the terms of a business plan up until the end of season 2022-23. The plan focuses on a number of financial targets with the objective of improving the club's financial performance.
"The league is currently reviewing submissions from Reading to determine whether compliance has been achieved.
Reading - managed by former Manchester United and England midfielder Paul Ince - have been under a transfer embargo since the summer of 2021 as a result of the breach of probability and sustainability rules.
A statement on the club website, external said they had been "working in close collaboration" with the EFL.
"We are confident that significant progress has been made in aiming to achieve those financial targets - specifically in addressing the budget for the football side of the business," they said.
"A phenomenal amount of hard work has been put in behind the scenes in recent years - work which has seen us make radical changes, on and off the pitch, and take huge strides in rectifying a difficult historical situation.
"Our problems of the past are not all easy quick fixes of course, but that hard work will continue as we collectively strive to take this club forward."