Vital Football

Latest Reading FC News

So thats where the money has gone....

So thats where the money has gone....

After watching the club fall out of the Premiership and then failing to regain promotion, certain sections of the clubs fans had become increasingly frustrated at the lack of investment after seeing a number of players leave the club this summer. At the end of the home game with Sheffield United in August, many fans chanted 'where`s the money gone` in the direction of the director`s box, and the club has now released a statement telling us exactly that.

It would appear that there was a big overspend in the 2005/2006 season to ensure promotion and that took up a large chunk of the following season`s Premiership budget and players had contracts that doubled, or in some cases trebeled, their wages when they became Premiership players - in fact we spent nearly £60 million on wages in our 2 years in the top flight.

Last season we made 'a concerted attempt` to get back at the first time of asking and as such made a £6million loss despite the parachute payments relegated clubs received. We were also asked to pay £7million in bank loans due to the current economic climate which is where the money from the sale of the likes of Kevin Doyle and Stephen Hunt has gone.

You can read the full statement from the club on the official website HERE.

Win FREE pizza with Vital Football!
Select your team and get 50% off if they score twice.
www.papajohns.co.uk/football



*Try Vital Mobile FOR FREE for the latest news, scores, fixtures and so much more*

Click here to join in the debate on the club forum.

Writer:Steve Guscott
Date:Friday October 2 2009
Time: 12:37PM

Login to post a comment

Recent Reading Articles

Background on Barrett

Article about Josh Barrett

Who Will Reading Face In 2016/17 (3/5/16)

With less than a handful of games remaining in the 2015/16 campaign, some promotions and relegations in the football pyramid are already known.

Reading outclassed by Preston

Reading's last home game of the season ended with defeat and made it 3 home defeats in a row.

Preston came to the Mad Stad and simply were the better side and should've won by more.

Br

Nicky Hammond to West Brom

Hammond leaves.

Archived Vital Reading Articles

Vital Reading articles from

Site Journalists

thurlow97
Editor email
Profile
Josh
no email
Profile

Current Poll (see more polls)

What Striker do you want to see here?
Suggested By:
Dom Solanke11%
Lewis Grabban9%
Jamie Mackie14%
Carlton Cole 9%
Nahki Wells57%
ScoopDragon Publishing Entire League Network of Sites

League Table

# Team P W D L Pts. GD
1 Burnley 45 25 15 5 90 34
2 Middlesbrough 45 26 10 9 88 32
3 Brighton 45 24 16 5 88 30
4 Hull City 45 23 11 11 80 30
5 Derby County 45 21 15 9 78 24
6 Sheff Wed 45 19 17 9 74 22
7 Cardiff 45 17 16 12 67 5
8 Ipswich 45 17 15 13 66 1
9 Birmingham 45 16 14 15 62 4
10 Brentford 45 18 8 19 62 1
11 Preston 45 15 16 14 61 0
12 Leeds Utd 45 14 16 15 58 -8
13 Q.P.R. 45 13 18 14 57 -1
14 Wolves 45 13 16 16 55 -6
15 Blackburn 45 12 16 17 52 -2
16 Reading 45 13 13 19 52 -5
17 Forest 45 12 16 17 52 -5
18 Bristol City 45 13 13 19 52 -16
19 Huddersfield 45 13 12 20 51 -7
20 Rotherham 45 13 10 22 49 -14
21 Fulham 45 11 15 19 48 -14
R Charlton 45 9 13 23 40 -37
R MK Dons 45 9 12 24 39 -29
R Bolton 45 5 15 25 30 -39
Latest F1 News
Latest Vital Boxing News

Recent Reading Results (view all)

Reading Fixtures (view all)

May 7 2016 12:30PM : Blackburn Rovers (a)
Sky Bet Championship