Reading have entered into a period of exclusivity with a potential buyer for the League One club. A statement on Monday did not reveal the identity of the potential purchaser, but confirmed the sale would include the shareholding stake of the unpopular owner Dai Yongge along with the club’s stadium and training ground.
The club was put up for sale by the Chinese entrepreneur Dai in October 2023 but is yet to change hands following multiple attempts to sell. A statement on the club website said: “Reading can confirm it has committed to a letter of intent with a potential purchaser of the club. The parties will now enter a period of exclusivity to complete final due diligence and legally complete the transaction.
“Whilst timelines cannot be guaranteed, the structure of the deal should allow for a quick completion, which would be for the benefit of all concerned. “Whilst we understand our supporters’ wish to know the purchaser’s identity, at this stage confidentiality is preferred to complete at the earliest opportunity.
“The club can confirm the agreed sale includes the transfer of Mr Dai’s shareholding in The Reading Football Club Limited, as well as the Select Car Leasing Stadium and Bearwood Park Training Facility.”. The Reading supporters group Sell Before We Dai have campaigned against the owner and set up a petition last week, supported by the Earley and Woodley MP, Yuan Yang, calling for an inquiry into how the club has been run. The Royals have been placed under a number of transfer embargoes and been handed points deductions totalling 18 points under Dai’s ownership.
Sign up to Football Daily. Kick off your evenings with the Guardian's take on the world of football. after newsletter promotion. In response to the the club’s statement on Monday, Sell Before We Dai was cautiously optimistic. The group wrote on social media: “The optimist in us may see today’s announcement as positive and welcome news. The tone of the statement seems different to before and we all hope that a deal can be done soon. We’ve been here before with the Dais though. Until a sale is done, our campaign continues.”.
