Reading FC Provides Ownership Update Amid Ongoing Crisis
Reading FC shares that no buyers are close to finalizing a deal, as funding issues persist
Reading, England, Dai Yongge, Rob Couhig, Wrexham
Reading: The club has been up for sale for over 500 days. Dai Yongge still owns it but hasn’t funded it properly for over a year.
They’re struggling month-to-month, even selling players to pay bills. The club confirmed no one is close to taking over.
Currently, there are no exclusive negotiations happening. This follows a previous near-sale involving Rob Couhig, who is now in a legal dispute with Yongge.
After the transfer deadline, the club updated fans. They confirmed that exclusivity with the previous buyer has expired.
They are now discussing alternatives and want a buyer who can help the club grow. Several interested parties have experience in football transactions.
The club hopes past legal work will help move new bids forward. Despite funding worries, they managed to pay HMRC and staff wages on time.
The recent sale of Sam Smith to Wrexham should help in the short term. However, they still need a sale for the club’s long-term future.