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.



*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

Best of Vital Network

Vital Boxing - Can Crolla Beat Linares?

Login to post a comment

Recent Reading Articles

Harriott In Team Of The Round (26/8/16)

Reading are represented in the latest League Cup team of the round that has been selected after this week's action.

Reading get passed Mk Dons

EFL action

Premiership Freebies In 12 Months?

With a week to go in the 2016/17 summer transfer window, Premier League clubs have players now in their final 12 months on contracts...

EFL Cup - League Cup Third Round Draw

The draw for the third round of the League Cup, re-branded the EFL Cup this season, has been made with us among those finding out who we will be coming up against.

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 Solanke10%
Lewis Grabban8%
Jamie Mackie10%
Carlton Cole 7%
Nahki Wells65%
ScoopDragon Publishing Entire League Network of Sites

League Table

# Team P W D L Pts. GD
1 Huddersfield 4 3 1 0 10 3
2 Brighton 4 2 2 0 8 6
3 Wolves 4 2 2 0 8 4
4 Norwich 4 2 2 0 8 4
5 Fulham 4 2 2 0 8 2
6 Burton 5 2 1 2 7 1
7 Q.P.R. 4 2 0 2 6 2
8 Newcastle 4 2 0 2 6 2
9 Brentford 4 2 0 2 6 1
10 Barnsley 4 2 0 2 6 0
11 Bristol City 4 2 0 2 6 0
12 Forest 4 2 0 2 6 -2
13 Aston Villa 4 1 2 1 5 2
14 Ipswich 4 1 2 1 5 0
15 Birmingham 4 1 2 1 5 -1
16 Cardiff 4 1 2 1 5 -1
17 Derby County 5 1 2 2 5 -2
18 Wigan 4 1 1 2 4 1
19 Leeds Utd 4 1 1 2 4 -2
20 Sheff Wed 4 1 1 2 4 -3
21 Reading 4 1 1 2 4 -4
22 Rotherham 4 1 1 2 4 -5
23 Preston 4 1 0 3 3 -1
24 Blackburn 4 0 1 3 1 -7
Latest F1 News
Latest Vital Boxing News

Recent Reading Results (view all)