FORMER READING FC chairman Sir John Madejski has voiced his concerns about the club’s current owner Dai Yongge, but believes fans should not be protesting.
The Royals have faced serious financial constraints in recent years under current owner Dai Yongge.
The team has been deducted six points in the previous two seasons for breaching EFL’s profit and sustainability rules.
The latest financial issue saw the club issued with a winding up petition for failing to pay HMRC on time and are on the current EFL embargo list after failing to pay players on time and in full on three separate occasions last year.
Speaking to Tim Dellor on BBC Berkshire, Madejski said: “I share the frustrations of everyone concerned.
“I’m deeply concerned, not only for the fans, but for all the wonderful people who work at Reading Football Club, who have given so much time and effort over the years.
“I’m deeply concerned about the current situation. Sadly all the way through the tenureship of Mr Dai we have had the same problems of getting money on time.
“It’s not looking good because HMRC could wind the club up from next Tuesday if they felt like doing so. Money has to appear from somewhere to keep the club going.
“Running football is not for the faint hearted. I don’t agree with the way it’s being run at the moment, but what I have to say is that Mr Dai has presided over Reading Football Club for six years and has put in well over £200million.
“It’s an eye watering amount and give the guy a bit of credit for all of that.
“We’re talking about enormous sums of money and these days it’s not as simple as it was getting money out of China. Sadly Mr Dai doesn’t speak English and he works out of Hong Kong. The whole situation is very tenuous indeed.”
Despite voicing his concerns about the current ownership, Madejski believes that it is not wise for the fans to protest against Dai Yongge.
He continued: “Mr Dai has without a shadow of a doubt put more money into Reading Football Club than anyone else.
“It’s a worry because we know he walked away from the club he owned in Belgium. He also allegedly put two clubs into liquidation in China so his track record is not good.
“I would urge the fans not to protest against Mr Dai, although they have good reason to no doubt.
“We have to get through this and I’m sure Mr Dai wouldn’t be averse to selling if someone could come in with very, very deep pockets to take over Reading. But there ain’t many of those around.
“It’s a very, very, very tricky situation we find ourselves in.
“I think he’s been badly advised and probably thought by having these well known people that he was doing the right thing.
“Back in the day all clubs were owned largely by people who lived in the area. It was community and I’m all about community.
“I don’t think Reading means much to Mr Dai. Reading Football Club does but that’s about the extent of it.”
To show their displeasure in the way the club is being run, several Reading FC fan groups have come together to form the pressure group ‘Sell Before We Dai’ to urge Mr Dai to sell the club.
