Claim made on William Storey’s effect on Reading FC takeover process | OneFootball

An employee at League One side Reading believes William Storey could have played a part in slowing down the club's past progress on a potential takeover, speaking to The Athletic.

Storey's interest emerged last year and The Telegraph even claimed that he was closing in on a takeover, but that report proved to be premature in the end.

Having failed to buy Coventry City and Sunderland in the past, there was a lot of scepticism about Storey's potential purchase, and he made it a hat-trick in November by revealing that he would not be proceeding with a deal.

The Royals' supporters wouldn't have been too disheartened by that, even though a takeover was needed at that point to end the Dai siblings' miserable time at the Select Car Leasing Stadium.

Later in November, it looked as though Genevra Associates were on the verge of gaining exclusivity and were going to be the next owners of the Royals.

But that deal failed to materialise in the end and more months of turmoil followed after that, with a pitch invasion even happening against Port Vale in protest at the club's owners.

A further blow emerged earlier this month when it was revealed that co-owner Dai Yongge was planning to sell the club's training ground to Wycombe Wanderers, but that deal didn't materialise either.

are the party that are believed to be closing in on a takeover of the Royals.

The club are still in relegation danger, but things off the pitch look more promising.

William Storey's offer and his effect on Reading FC's sale

The takeover saga has been painful for many supporters who have been on an emotional rollercoaster - and they will just be hoping that the Dai siblings' tenure ends as quickly as possible.

Storey, who was previously in the race, reportedly offered £42.5m to buy the club last year. That deal was worth £50m in total, with bonuses included.

Because this was such a big offer, Dai wanted a similar amount from other parties when this deal fell through.

This is according to a club employee, who told The Athletic: "The owner had stars in his eyes because William Storey has said he’ll pay £50million for the club, which is more than anyone else was offering.

"People are coming in at far less than that and getting knocked back because the owner thought he should be getting what William offered."

This must have slowed down the takeover process, with Storey not having a positive impact.

Storey wasn't viewed positively by some fans even before this article from The Athletic was published.

But this could end up making him even more unpopular.

This doesn't reflect very well on Mr Dai either - because he shouldn't have been demanding £50m for a third-tier club that's in trouble.

However, the fact he has shown a willingness to sell now is a relief.

His time at the SCL Stadium needs to come to an end as quickly as possible, so the club can make a fresh start.