Reading has been deducting six points in the Championship after admitting to breaches in the English Football League’s profitability and sustainability rules. The penalty was sustained after a review was conducted and a loss of £57.8m was found. This amount was £18.8m over the threshold of £39m. The six-point penalty will come into effect immediately meaning they would move to 19th place, four points ahead of the relegation zone. The EFL revealed that Reading will have no option to appeal.
“The EFL’s profitability and sustainability rules are in place to discourage short-term overspending and it is appropriate that the league takes the necessary action on behalf of its members when a transgression occurs.” Trevor Birch, the chief executive of the Championship said about Reading. “The league is satisfied that the sanction for the breach, being imposed by way of an agreed decision, is proportionate having considered all the relevant factors, and will continue to work closely with the club as it seeks to meet its obligations moving forward.”
“The breach of regulations was calculated across a period of four years, two of which were unavoidably yet significantly impacted by the COVID-19 pandemic.” a club statement said. “While there are undeniably extenuating and unforeseeable circumstances that have contributed to this breach, we accept this to be a fair and reasonable punishment and will learn the lessons from our recent past which have resulted in this deduction. We would like to take this opportunity to thank the EFL for their co-operation, professionalism, and positive, the open dialogue throughout this process.”
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