Failure to Fulfill the Business Plan
Six points have been deducted from English second division club Reading for failing to meet a business plan. The club accepted the penalty, as announced on Tuesday. Reading slips to 20th place in the Championship, just a point clear of the relegation zone. Despite radical cuts, certain components of the budget have not been met.
As early as November 2021, the club had six points deducted for violating the Football League (EFL) profit and sustainability limits. A further six points had been suspended until the current season. Now this penalty came into effect because the club failed to comply with a business plan agreed with the EFL.
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Reading stressed they have not spent any money on transfers since the summer of 2020 and have not paid any loan fees since 2019. The squad consists of free transfer players and players from their own youth. Thanks to an upper limit, salaries have almost halved compared to the 2019/20 season. “Despite the significant progress we have undeniably made and the lessons learned as promised, we accept that the situation would never be easily or quickly resolved,” it said. / Summary: All Reading FC transfers
We can confirm that the club has accepted a six-point penalty which has been applied immediately following the club’s failure to fully satisfy a business plan agreed after a historical breach of the EFL’s Profit & Sustainability limits.
— Reading FC (@ReadingFC) April 4, 2023
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