FSA concerned new independent regulator may be too late to save Reading amid financial turmoil

Plans for a new independent regulator have been welcomed by the Football Supporters' Association, but they have warned it may be too late to save stricken Reading FC. The Sky Bet League One club are in financial turmoil, and while the EFL insists it is committed to finding a solution that saves the club, it cannot force Royals owner Dai Yongge to sell.

The independent regulator was a key recommendation of the fan-led review, which was promised by the Conservatives in their 2019 General Election manifesto in response to the demise of Bury earlier that year. The regulator will have the power to force an owner to sell up in the most extreme circumstances, but the Football Governance Bill that will establish it in law must first pass through the parliamentary process.

Culture Secretary Lucy Frazer insists that will be done before the end of the current session of Parliament, but the FSA's chief executive Kevin Miles said: «Sadly this may come too late for Reading by the time the powers are set up, but the supporters' organisation at Reading have been fantastic and resilient in their protests against the owner, because they care so much about the club.» «Had the regulatory system that is being proposed been in existence in the past, Reading would never have gotten into this situation in the first place.»

«One of the tests we did right throughout the fan-led review process was, 'would what we are proposing prevent another Bury? Would it prevent another Reading? ' Yes, it probably would.» «I know (Reading supporter groups) are wholeheartedly behind a (regulatory) regime which will prevent anybody else having to go through that experience.»

Football clubs in the top five tiers will have to follow rules set by the regulator. These