Former Premier League members Reading are struggling on and off the field, this article will detail what on earth is going wrong and what has lead to their downfall.
The Beginning
Throughout most of their history, Reading has been a lower league club, founded in 1871, The Royals are 5th oldest club in the EFL. Reading have spent their early history in League One and League Two and did not really see many highlights in their history. In 1991 George Madejski bought the club and immediately brought success. In 1994, Reading won promotion to the Championship and a year later won Promotion to the Premier League…. Except not really. Due to a decision to change Premier League rules, Reading would not be promoted. This would prove fatal for the club as the club would be relegated in 1996 back to League One, Reading would move into a 20k stadium named the Madejski stadium and in 2000 they would be promoted into the Championship. Then in the 2005/2006 season, Reading would break the record for the most points in a Championship season as they would pick up 106 points and would win promotion to the Premier League. Reading would come 8th in the Premier League only missing out on European football due to Goal Difference. Sadly the club would be relegated back to the Championship the following season. Following 2 failed playoff campaigns in the Championship, in January 2012, Madejski would sell the club to Russian Billionaire Anton Zingarevich. Madejski would leave the club on a high as the club would win the title and promotion back to the Premier League under Brain McDermot achieving 89 points. In March 2013, McDermot was sacked with the club in the relegation zone and appointed Nigel Adkins, Sadly Adkins was unable to keep Reading up as they would be relegated after 1 season in the Premier League.
In 2014, Zingarevich would step down as reading chairman and hand control back to Madejski. Reading were in serious trouble at this point and Madejski has revealed that the club would have been close to bankruptcy if the club had not been taken over by a Thai consortium led by Lady Sasima Srivakon who is a singer and composer in her 70s. Madejski give a good assessment of Lady Sasima but this was to be a strange period at the club. Having inherited a team that whilst troubled off the pitch had only finished one place and point outside the playoff space, the thai board made some very strange decisions, the backbone of the team that had come 7th the previous season was ripped apart and many strange signings for the Thai leagues were brought in. Unsurprisingly Reading struggled the following season in which they finished 19th after sacking Nigel Adkins. Adkins replacement Steve Clarke would be sacked the following Christmas and was replaced by former manager Brian McDermot midway through the 2015/16 campaign. During this period, Readings wage bill was increasing steadily and their recruitment was a disaster. McDermot was sacked at the end of the season and was replaced by Manchester United legend Japp Stam. The season stated well under Stam but in November 2016 the Thai owners sold Reading to a Chinese consortium lead by Dai Yongge and Dai Xiu Li. Reading would nearly be promoted to the Premier League under Stam but would lose the playoff final to Huddlesfield Town on penalties.
The Downfall
Reading would make some impressive business in the 2017/18 season including Goalkeeper Vito Mannone and Striker Sony Aluko was signed for 7.5 million pounds. However this would be an issue as Readings wage bill would increase massively. The season would go horribly for Reading as Stam was sacked and replaced by Paul Clement and Reading would narrowly avoid relegation. Readings wage bill would further increase and this would later be a problem as the EFL have rules prohibiting owners to spend over a certain amount on wages. Yongge and Xiu would continue to spend on wages to little result as Reading would clem 20th again. You would think the owners would change their spending tactic… you would be wrong. Reading would spend more money on wages in the 2019/20 season as they were spending 42 million pounds a year. Despite narrowly missing out on the playoffs in the 2020/21 season, Reading would lose an eye watering 36 million pounds. In the summer of 2021/22, Reading were put under a transfer exemption meaning that they were banned from signing players. In November 2021, Reading were given a six point deduction by the EFL. Reading would be able to survive but would struggle in the following season. Under the management of Paul Ince, Reading were given another 6 point deduction and on the 4th May Reading would be relegated to League One.
What the future holds for Reading
Reading are in a mess under the owners. They will go into administration under these owners and the EFL should have done better to protect their clubs. Reading at this rate will lose a lot of money and therefore will have more points deductions. I believe that we will see Reading in League Two in the future. Hopefully the club will be able to stay up and become more sustainable in the future.