Reading FC reported pre-tax losses of £21.7 million for the fiscal year ending June 2023, which is an increase from £17 million the previous year. The financial report was submitted a year late, leading to a transfer embargo. Despite a drop in league status to League One, the club's salary expenditures of £24.5 million continued to exceed its income. Owner Dai Yongge faces a deadline of April 4 to sell the club after being disqualified under EFL rules. Amid financial chaos and fan protests, Reading currently ranks eighth in League One after a recent unbeaten streak.
Reading FC faced financial turmoil, accruing over £21 million in losses, amidst transfer embargoes and management issues, leading to relegation from the Championship to League One.
The club's future is uncertain as owner Dai Yongge has a deadline to sell, following his disqualification under the EFL's Owners' and Directors' Test.
Despite financial struggles, Reading has shown resilience this season, currently sitting eighth in League One after a ten-game unbeaten run.
Protests by fans highlight discontent with the administration, further complicating the club's already precarious financial and operational situation.
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