Reading FC, the club of Black Stars defender, Andy Yiadom has announced that an embargo has been placed on the club for defaulting in their loan payments to the HMRC.
As as result of this default in payments, Reading FC has been placed under a registration embargo with immediate effect.
The club also announced that they are considering offers on the table to sell to club.
Read their full statement below:
Reading Football Club can confirm that a sum owed to HMRC and due by Friday 22nd September 2023 remains outstanding.
In exceeding the default period, the club reported this breach and has again been placed under a registration embargo with immediate effect. It will remain in place until the breach has been remedied.
On behalf of everyone at Reading Football Club, we would like to express our sincere gratitude to our community, our commercial partners, sponsors and suppliers and, most importantly, our fans – for your continued support and patience during this extremely challenging period.
We also want to place on record the club’s appreciation to its staff who continue to represent the club admirably in increasingly demanding circumstances. We can confirm that the wage bill for September has been satisfied in full and in a timely fashion.
The club continues to suffer significant cashflow issues and, in striving to establish sources of stable external investment, we can confirm that there has been significant interest from a number of parties seeking involvement in the club.
Discussions and due diligence processes with a number of these potential investors continue apace. Our owner, Mr Dai, is openly inviting further credible offers of interest and declarations of intent from parties eager to pursue a potential sale of the club.