READING Football Club have been docked one point and its owner fined £10,000 for late payment of wages last season.
The club confirmed on Wednesday afternoon it had admitted to three charges put forward by the EFL – in accordance with Regulation 64.7 of the EFL Regulations – having failed to pay its players on time on three occasions.
The point penalty comes into immediate effect, while a suspended three point penalty will be enforced if the club fails to pay its players on time on any further occasions between now and June 30, 2024.
Royals owner Dai Yongge will also be expected to deposit 125% of the club’s monthly wage bill into a designated account, as per the Disciplinary Commission’s direction, to avoid enforcement of the suspended penalty.
A statement published on the club’s website read: “After being charged by the EFL in June, the club responded in a timely fashion – accepting the charges in principle, whilst providing evidence of the mitigating circumstances surrounding the late payments to an independent Disciplinary Commission in response to the charges.
“Our dialogue with the EFL and the Independent Disciplinary Commission has been open throughout the process and, in accepting that the repeated late payment of wages is wholly unacceptable, we believe the punishment is just.
“The wage bill has been satisfied in full and on time for the last three months and, as recently communicated to supporters, our owner will continue to seek and secure reliable sources of stable external investment which will ensure cashflow complications do not arise and result in any further breaches of EFL Regulations.”
The point penalty leaves Ruben Selles’ side on two points in League One, having registered their first league win of the season on Tuesday night, beating Cheltenham 1-0.
