League One rivals of Portsmouth reveal a significant deal as Reading’s financial issues worsen..

 

As they get ready to focus on an FA Cup first-round matchup against National League leaders Chesterfield, Portsmouth supporters have plenty of reasons to be upbeat early in the season.

With 10 wins and five draws in their first 15 games of the season, John Mousinho’s team has set a club record for the longest winning streak since the end of World War II, surpassing their 13-game winning streak as Premier League champions in 1948–49.
Pompey’s most recent comeback triumph against Reading demonstrated their tenacity as they overcame a two-goal deficit to win 3-2 on the road.

However, the mood was much less positive for recently relegated Reading, who find themselves at the bottom of the table with six points from their opening 14 games.

The recently relegated side has endured a number of bleak performances on the pitch in recent weeks. But those concerns have been overshadowed by the even more worrying headlines surrounding the club’s state behind the scenes.
BBC Sport confirms that Reading have been referred to an independent disciplinary commission by the EFL over money owed to HRMC.
The Berkshire outfit has not paid money owed for unpaid debts in both September and October and was served with a second winding-up petition in four months on Tuesday.

EFL chief executive Trevor Birch said: “This is a challenging situation for all involved, and we understand the frustrations of supporters and the negative impact sporting sanctions and further charges are having on the football club.

“As a League, we are required to ensure all 72 members are treated fairly and consistently on all matters so that the integrity of the competition is maintained. These consistent failures of the club’s ownership to meet its ongoing obligations have a knock-on effect on all clubs, and as such, the deterrents in place must be actioned when breached.

“We have today met with the Reading Supporters Trust to discuss the ongoing challenges and will continue to work with the club in an attempt to find a positive solution moving forward.”
Reading are unable to sign players for the next three transfer windows as concerns surrounding the club intensify.

 

Numerous individuals, like former Newcastle owner Mike Ashley, have expressed interest in purchasing the team; however, energy drink manufacturer William Storey has withdrew from the competition.

“After signing a contract for exclusivity in October, we entered a period of due diligence,” Mr. Storey wrote on social media. According to our accountants’ report, I’ve decided not to move forward with my investors.

“I hope the club finds an owner who will make investments for long-term success and wish them the very best.”