Reading FC will revert to part-time football after their relegation from the Women’s Super League, the club has announced.
The club finished bottom of the WSL and dropped into the second tier for the first time since 2015.
In a statement, they say that owner Dai Yongge had personally invested approximately £6m in the women’s set-up since taking charge in 2018.
The club says it now needs to look at a more “sustainable” model.
Although the club acknowledges the increase in interest following England’s Euro 2022 success, relegation from the WSL will result in a significant drop in broadcast fees and FA central funding.
“Difficult but necessary financial decisions are being made across the business following the club’s relegation to League One last season,” said Reading CEO Dayong Pang.
“After discussions with the FA, the decision to operate on a part-time basis represents the most viable solution at the present time.
“We would like to acknowledge all of the hard work and unquestionable dedication of [manager] Kelly Chambers and her coaching staff, the players and all the staff.
“The club will now be working extremely hard to build a team to proudly represent our town in the Championship in the 2023-24 campaign.”