Reading have been hit with a six point deduction by the EPL after admitting that they had failed to comply with budget restrictions that had been imposed after they failed to comply with Sustainability Rules.
Alex Rae is assistant manager to Paul Ince at the club who are now just one point above Huddersfield who are in the third relegation spot.
With just two points picked up from their last six Championship matches it looks ominous for the club who have been operating under a transfer embargo since the summer of 2021.
At lunchtime today the EFL announced:
A statement from the independent Club Financial Reporting Unit:
Reading Football Club will be deducted six points from the 2022/23 Championship table, after the Club admitted that it has failed to comply with the budget restrictions imposed, following a previous breach of the EFL’s Profitability and Sustainability Rules (P&S).
The points deduction is an activation of a suspended six-point penalty, which was set out in the terms of an Agreed Decision between Reading and the EFL in November 2021. The EFL has been notified and will apply the sanction with immediate effect.
Rae joined Reading in February 2022, shortly after explaining why Reo Hatate was a dud and James Sands an inspired signing.
Despite winning the points on the park the EFL have clearly ruled against Reading for multiple breaches of financial rules.
During his playing days Rae moved to Rangers with the lure of £569,000 being paid into an offshore trust over the course of two years. In July 2017 the Supreme Court agreed with HMRC that those payments were disguised remuneration and liable for Income Tax, National Insurance, interest and penalties.
@alexrae1969 remember this? Having been around football for a long time I’m skeptical how good he really is. We have heard he can play left back, left wing and even striker. automatically my instincts are telling me that I’m not buying this…
Alex Rae on reo Hatate Jan 5 2022 pic.twitter.com/s01pkriIVa
— ??????? Gaz B ?? (@gazb1888) February 3, 2022
Alex Rae
£569k EBT RecipientNo Tax Paid – #CollectThemAll@ScottishFA @HMRCgovuk pic.twitter.com/NaWQ9a9xrE
— RhebelRhebel (@RhebelRhebel) March 24, 2018
Taxi for Alex Rae … Ahem !
Lol wee Quark from Deep Space 9 caught out again with a klub cheating.
The ferret.
They broke a rule they had brokered (pun there) after the broke a previous rule. You couldn’t make it up!
Seems that Accounting isn’t wee Alex’s strong suit!
Another REJECT,FIDDLER OF THE BOOKS FROM THE ESTABLISHMENT,HE MUSTV BEEN AT THE BACK OF THE LOOKS QUEUE,WHEN THEY WERE HANDED OUT BY THE BIG YIN!!!!