Ruben Selles provides Reading FC takeover update | OneFootball

Highlights

Reading boss Ruben Selles has revealed that he doesn’t know how close a takeover is, as he warned it will take up to two months to complete once an offer is accepted.

Reading FC takeover latest

The Royals’ fans have been protesting current owner Dai Yongge for some time, with his financial mismanagement contributing to their relegation from the Championship last season as they were deducted points.

More deductions have been applied in the current campaign, with Reading bottom of the third tier and facing the very real prospect of relegation to League Two.

Worryingly, further problems are on the horizon, as the club was late to make a payment to HMRC, and Yongge has failed to make payments to designated accounts as promised.

So, for the long-term future of the club, supporters are desperate for a change in ownership, and there was an encouraging update on that front, as the Telegraph confirmed there is plenty of interest.

They stated that Mike Ashley has made an offer, along with an investment group from Luxembourg. Meanwhile, there is interest from groups in America, and one that involves former Bolton chairman Ken Anderson, so there is real optimism a sale can be agreed.

What has Ruben Selles said about a Reading takeover?

Selles was quizzed on that ahead of the trip to Wycombe this weekend, but he stated to Reading Today he hadn’t received any concrete updates, as he outlined a timeframe once things do start to develop.

“We have a meeting later today with the person responsible in the club to give an update on the whole situation. We have it weekly. As far as I know, no (update), but maybe this afternoon there will be something.

“I talk with Mark Bowen and three or four other heads of departments to get a report from them. We thought it was imminent a couple of times. With the process as soon as any offer gets accepted, it’s between six and weeks to go through all of the paperwork and process. Right now, I don’t know if we are any closer to any of the bids.”

What next for Reading?

Of course, in the bigger picture, the only concern for Reading is the takeover, as they need Yongge to leave as soon as possible, but they also require the right next owner, as they don’t want more problems down the line.

Ultimately, there’s nothing Selles or the fans can do on this front, so it’s just about hoping for good news to come out, but the fact that offers have been made, and there is a lot of interest, is really encouraging.

The boss will only be concerned about football, and he has to ensure the team are not distracted by the off-field talk as they look to improve on what has been a dismal campaign so far.

Reading are already ten points from safety ahead of the weekend fixture with Wycombe, so they really need to start getting some wins on the board if they are to have any chance of avoiding a second consecutive relegation.