A Football Disciplinary Commission (FDC) has fined Reading the sum of £30,000 after the club admitted a breach of Football League regulations that prohibit any individual or legal entity having an interest in more than one club.
In August 2013, Reading borrowed the sum of £10.5m from Vibrac Corporation, a company registered in the British Virgin Islands, which was followed by a further loan of £5.6m in May 2014. The FDC found that, at the time, Vibrac also had an interest in three other professional clubs, albeit in the Premier League, in contravention of Football League regulations designed to protect the integrity of league competition.
All sums owed to Vibrac by Reading were re-paid following the club’s takeover by its current owners in August 2014.
Following Reading’s full co-operation with the process and having admitted the charge, the FDC agreed to suspend the full amount until May 2016 with the club also being ordered to pay the costs of The Football League and the Commission.
To view the FDC’s full judgment click here.