Berkshire news Reading in 'cash conservation mode' and player sales 'vital' for FFP MetiNews.Com

MetiNews.Com - An update from the club on its financial situation

Berkshire news Reading in 'cash conservation mode' and player sales 'vital' for FFP MetiNews.Com

MetiNews.Com - An update from the club on its financial situation

Berkshire news  Reading in 'cash conservation mode' and player sales 'vital' for FFP MetiNews.Com
02 August 2020 - 06:09

Breaking News ! Reading are in 'cash conservation mode' and player sales are 'vital' this summer to ensure the club complies with Profit and Sustainability guidelines (formerly known as Financial Fair Play). That was the warning from the club who met representatives from the Supporters Trust at Reading (STAR) during a recent Structured Dialogue meeting. Those present included Royals chief executive Nigel Howe and financial director Bryan Stabler. Find out how you can get the latest news from BerkshireLive delivered straight to your inbox Notes from the meeting reveal Reading supporters should expect player sales in the coming weeks as the club aims to get on a more stable footing. A statement read: "RFC stated that it was in cash conservation mode with no income and was “battening down the hatches”; budgeting for reduced revenue and reduced cost. "Supporters will need to be prepared for some players being sold. "It [the club] stated that, in line with government guidance, it remained hopeful of getting crowds back in before Christmas 2020. "But it is subject to the success of pilot schemes and the national virus outlook. A lot of work behind the scenes is being done to try to prepare for the safe return of fans. "STAR asked if there was any relaxation of EFL Profit and Sustainability rules.

. "Maybe calculated on a two-year average with some mitigation to be factored in, but player sales remain vital to meeting Profit and Sustainability obligations." Read More Related Articles Brian Tevreden gives damning assessment of former Reading FC chief exec Ron Gourlay Read More Related Articles What Tottenham Hotspur teenager Oliver Skipp could bring to Reading FC The coronavirus pandemic has hit Reading hard as they have been unable to rely on any matchday income. The club had to play its five remaining games after lockdown behind closed doors in accordance with government advice. That, along with the recent financial records showing the club urgently needs to cut costs, means this summer is set to result in a huge overhaul in personnel at the club. Reading FC player ratings for 2019/20 Strikers Midfielders Defenders Goalkeepers Eight senior players have already left, along with a number of U23 players who all reached the end of their contracts. A number of staff have also departed. Midfielder John Swift has already been strongly linked with a move away from the club this summer, while Liam Moore, Yakou Meite and George Puscas could also leave with all four among the higher earners at the club. The club also said in the meeting that in the Football League player wages are generally falling, transfer values are 'an unknown' but could be expected to reduce by around 50 per cent and that progress is being made towards a salary cap, which the club supports.

Source = MetiNews.Com

This news 41 hits received.

Berkshire news Reading in 'cash conservation mode' and player sales 'vital' for FFP MetiNews.Com


Berkshire news Reading in 'cash conservation mode' and player sales 'vital' for FFP MetiNews.Com


Berkshire news Reading in 'cash conservation mode' and player sales 'vital' for FFP MetiNews.Com


Berkshire news Reading in 'cash conservation mode' and player sales 'vital' for FFP MetiNews.Com

COMMENTS

  • 0 Comment
Last News
MAY INTEREST YOU x
Premier league news  Tottenham agree fee with Southampton for Pierre-Emile Hojbjerg  Last spor news
Premier league news Tottenham agree fee with Southampton for...
Daily uk news  Britain gets its first Dutch-style roundabout that gives priority to cyclists but motorists condemn 'confusing' £2.3million project they fear will cause 'more accidents' MetiNews.Com
Daily uk news Britain gets its first Dutch-style roundabout that...