Dai Yongge: Reading owner fined £20,000 for failing to deposit wages
- Published
Reading fans have held numerous protests against owner Dai Yongge
Reading owner Dai Yongge has been fined £20,000 for failing to deposit the necessary wages at the League One club.
Dai was charged with misconduct by the English Football League in September after not banking enough money to cover 125% of the forecast monthly wage bill.
The EFL recommended he be banned from all football activity for 12 months, but an independent disciplinary commission opted against enforcing it.
However, the commission described Dai's actions as "deliberate misconduct".
A further £50,000 fine issued by the commission has been suspended until 12 January, 2024, and that will be triggered if he fails to deposit the required amount in full.
The Chinese businessman, who is looking to sell the Berkshire club, is also required to maintain the deposit levels set out by the EFL until at least the end of August.
The EFL said it did not feel another sporting sanction against Reading was appropriate in this case as they were taking direct action against the owner.
The Royals have already had 10 points deducted this season for further financial breaches.
The independent commission were said to be "unimpressed" by Dai's failure to provide detailed evidence as to why payments were not being made, but felt banning him would not help source the funds required to meet the club's bills.
"It is hoped this latest financial sanction, and the threat of further monetary penalties will bring a resolution to the short-term issue of funding the deposit account, which in turn should provide some re-assurance to the management, staff, and players at the club, who continue to act as outstanding ambassadors for Reading FC, despite the challenging circumstances," an EFL statement said.
"The League will have no hesitation in bringing further charges against Dai Yongge if he fails to comply with the commission's directive and is also ready to support the club in quickly progressing a change of control at the club once a purchaser has been identified."
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