Reading Football Club have finally published their long overdue accounts for the 2022/23 season.
The Royals have been up for sale for more than 500 days with fans having to endure a tumultuous takeover process under troublesome owner Dai Yongge.
The club has been under a transfer embargo for several seasons due to their financial issues, in part because of not publishing their accounts.
However, the club has finally published their accounts in what can be seen as a positive step towards the end of what has been a disastrous period for the club.
The accounts show that there has been a £21.7m pre-tax loss during the 2022/23 season, compared to £17.3m the previous campaign. Revenue has increased to £18.7m from £16.9m in 2021/22. Meanwhile, salaries fell slightly from £25.3m in 2021/22 to £24.5m in 2022/23.
As a result of publishing the accounts, Reading have been removed from the EFL’s embargoes list.
The takeover process at the club still remains unresolved with fans anxiously waiting for an update from the club following Friday’s court case between owner Dai Yongge and former prospective buyer Rob Couhig.
the club released a short statement on Friday stating that they ‘look forward’ to negotiating with Couhig to resolve the element of his claim.
Couhig is claiming that the club broke exlcusivity rules when in negotiations, while he is also seeking over £12m in lost potential profits.
Reading Central MP Matt Rodda said: “I welcome the decision by the EFLand hope that we will now see some real progress towards resolving the question of ownership at Reading FC.
“I am calling on Dai Yongge to speed up the sale of the club so a new owner can invest and take the club forward.”
