READING have been plunged into further crisis after being hit with a new transfer embargo by the EFL.
The Royals are more than familiar with nightmare transfer bans after being slapped with their THIRD different market restriction since 2021.
In fact, Reading were already under an embargo until 2025 as a punishment for last year’s financial misdemeanours.
But the latest prohibition relates to the late filing of accounts to Companies House for the 2022-23 financial year.
The stricken club were hit with a second embargo just last year for failing to pay taxes on time.
That came after Reading were punished with a two-year transfer ban in the summer of 2021 for an outstanding tax debt.
The League One outfit had only been able to sign players from other clubs on loan or if they were free agents.
A Reading FC statement read: ” The Club can also confirm that – alongside the requirement to operate under the terms of its business plan – it has today been placed under a formal registration embargo by the EFL.
“We are working closely with our auditing partner to finalise these accounts at the earliest opportunity – at which point the embargo will be lifted immediately.”
Reading have not purchased a player for a transfer fee since signing Ovie Ejaira from Liverpool for around £3million in August 2020, but the winger is now a free agent after agreeing to leave in December.
FOOTBALL FREE BETS AND SIGN UP DEALS
The crisis club is currently in the midst of a long ongoing takeover saga after current hated owner Dai Yongge put it up for sale earlier this year.
American business Couhig were expected to complete a deal however talks broke down late in the process and the club moved on.
Reading were relegated from the Championship in May 2023 after 10 years in the second tier.
The club would have escaped relegation if it hadn’t been hit with a six point deduction for various off-field breaches.
The Royal’s finished the season on 50 points, which would have left them 19th and one point above the drop.
The club were again docked six points from the League One table last season after failing to pay a HMRC bill within a specified 80-day window.
Yongge has been hit with a total of 18 point deductions since his 2017 takeover.
Reading currently sit 16th in League One, with 13 points from nine games under manager Ruben Selles.
Here is how events have unfolded under Dai Yongge:
