Reading owner Dai fined over missing wages deposit

Yongge Dai, the owner of Reading, was issued a fine of £20,000 and a suspension of an extra £50,000 after the English Football League (EFL) requested that he be banned from all football activities for a term of one year. In addition, he was suspended for an additional £50,000. Because Dai did not deposit his salary or provide an explanation as to why he was unable to pay out of pocket, he was obliged to pay a fine as a result of the decision made by an independent Disciplinary Commission.

The Commission ordered that Dai deposit in a particular bank account during September that was equal to one hundred twenty-five percent of the club’s expected monthly pay cost. This deposit was to be made in conjunction with the Commission’s demand. Because there was a direct action being taken against the owner, the English Football League (EFL) made it quite clear that it did not consider that a sporting sanction against the Club was appropriate in this particular situation. This information was included in the request that was made to suspend Dai from all football activity.

The independent Commission was “unimpressed” by Mr. Dai’s unwillingness to present extensive information regarding the continued reasons for his failure to pay and regarding his future intentions. This was the conclusion reached after evaluating all of the arguments. On the other hand, they believed that a disqualification would not be successful in achieving the immediate objective of locating the money that are required for the deposit account.

As a consequence of this, the Independent Commission has come to the conclusion that Dai should be subject to a fine of twenty thousand pounds, and an additional fifty thousand pounds shall be suspended and activated on January 12, 2024, unless the mandatory deposit is paid in its entirety. Mr. Dai is expected to maintain the deposit at the levels that were specified before until the earliest practicable date of August 31. This is an extra condition that he must fulfill.

It has been made very clear by the Commission that they are unsatisfied with how he has handled the problem. They have referred to it as a “serious case” and “deliberate misconduct.” An honor was bestowed upon Reading’s “staff and players who continue to act as outstanding ambassadors for Reading FC, despite the challenging circumstances,” as stated by the English Football League (EFL).