Reading FC owner, Dai Yongge, enters 'exclusive' negotiations to sell club

The owner of Reading Football Club, Dai Yongge, has entered 'exclusive talks' with a potential buyer.

The club confirmed the news on Tuesday afternoon and said Mr Dai will now enter a period of exclusive negotiation to agree the final terms.

Any sale is expected to take up to two months, the club said, at which time the purchaser will be announced.

It would include the transfer of Dai Yongge's shareholding in The Reading Football Club Limited, as well as the Select Car Leasing Stadium and Bearwood Park training ground.

Just last week, a potential sale of Reading Football Club's Bearwood Park training ground was put on hold due to 'planning limitations'.

Wycombe Wanderers Football Club said it would purchase the site from Reading and provide sufficient funding to keep the club to allow it to pay its tax obligations and operating expenses, including payroll for the staff and players.

However, the use of the Bearwood Park training grounds is, seemingly, limited to Reading FC due to planning restrictions, meaning the sale was put on hold.

At the end of February, Reading Football Club was hit with an immediate two-point penalty as a result of persistent late payments to HMRC in 2023. It followed a decision of an EFL Disciplinary Commission on February 26.

The club also received a further suspended two-point penalty, which will be activated should there be any further late payments to HMRC or identified football creditors (EFL Regulations 52.6.1 to 52.6.3) this season.

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