READING FC have slashed their debt by almost £20 million, according to the club’s latest financial figures.

The club has filed its annual report for the year ending June 30, 2017 with Companies House.

And it appears Royals’ financial health has been steadily improving under the Chinese owners and their predecessors from Thailand.

Reading’s overall debt – the amount they owe the Chinese - stands at £53,962,102 following their takeover in May 2017.

But that has fallen dramatically from £73m in the 2015/16 season, which had risen from £67.7m the previous year.

All in all, Reading made a pre-tax profit of £4,661,150 in 2016/17, which was a major improvement on the previous year when the club lost £15,034,948.

Total turnover increased by £10.9m from £25.8m to £36.7m.

Revenue generated through media went up £6.8m from £14.1m in 2016 to £20.9m in 2017.

However, commercial revenue fell by £900,000, down from £5.7m for the year up to June 30, 2017 to £4.8m.

But the amount generated on matchdays went up by £4.5m.

Reading also saw a reduction in salary costs and wages which fell from £30.8m in 2016 to £27.9m in 2017.

In addition, ‘operating expenses’ dropped by £1.7m from £18.8m to £17.1m, while ‘amortisation and impairment’ – used to value the club’s assets – led to a drop from £5.1m in 2016 to £3.7m in 2017.

Reading Chronicle:

Left, former Royals director Sumrith 'Tiger' Thanakarnjanasuth, with ex-Reading chairman, Sir John Madejski, who stepped down in August 2017.

Reading spent £15.5m on transfer fees the year running up to June 30, 2017.

Money generated from the sale of players plus appearance and sell-on clauses brought in £5.3m for the year and related to the following players: Aaron Tshibola, Oliver Norwood, Orlando Sa, Michail Antonio, Michael Hector, Alex McCarthy, Piers Sweeney, Jack Stacey, Rowan Liburd, Donervon Daniels and George Saville.

Reading finished third in the Championship in the 2016/17 season but missed out on promotion after losing to Huddersfield Town in the play-off final at Wembley.

Jaap Stam’s side only made it to round three of the FA Cup and were beaten in the fourth round of the EFL Cup.

Key numbers:

  • The average matchday attendance went marginally up from 17,285 in 2016 to 17,505.
  • Season ticket holders fell from 12,685 in 2016 to 11,497 in 2017.
  • Matchday revenue increased from £5.2m in 2016 to £9.7m.
  • Wage bill was down from £30.8m in 2016 to £27.9m.
  • Groundshare revenue from London Irish RFC fell from £518,438 in 2016 to £329,803 in 2017.
  • The number of professional players on Reading’s books went up from 56 in 2016 to 63 in 2017, though coaching staff fell from 108 to 102 and administration staff from 71 to 64.

The current list of club directors is Narin Niruttinanon, Nigel Howe, Ron Gourlay and owners Dai Yongge and sister Dai Xiu Li, with Bryan Stabler secretary.

That followed the resignation of Lady Sasima Srivikorn, Theekharoj Piamphongsarn, Sumrith ‘Tiger’ Thanakarnjanasuth - now chairman of Oxford United - and Khun Jack Srisumrid in May 2017 then Sir John Madejski in August 2017.