Reading FC have been hit with a new transfer embargo by the English Football League (EFL) for failing to submit their annual accounts.
The Royals have been more than familiar with transfer embargoes across the previous few years and have not purchased a player for a transfer fee since signing Ovie Ejaira from Liverpool for around £3million in August 2020.
Still in the midst of a long ongoing takeover saga after the club put up for sale by current owner Dai Yongge almost a year ago, the club has been unable to sign players regardless due to their current situation.
Therefore, Ruben Selles was only able to make one addition to his first-team squad in the summer transfer window which was the acquisition of Chem Campbell on loan from Wolves until January.
Reading FC said: ” The Club can also confirm that – alongside the requirement to operate under the terms of its business plan – it has today been placed under a formal registration embargo by the EFL (English Football League).
“This embargo has been implemented, as per EFL regulations, due to the late filing of financial accounts to Companies House, and relates to the 2022-23 accounting period. We are working closely with our auditing partner to finalise these accounts at the earliest opportunity – at which point the embargo will be lifted immediately.
“Further developments for both the takeover and embargo status will be communicated at the earliest opportunity, and the Club and would like to thank all supporters and staff for their patience during this time.”
