Concerning Reading FC development shared | OneFootball

Reading FC have been placed under a transfer embargo.

Reading have been placed under a transfer embargo after they failed to submit their annual accounts, as the problems continue to mount for the League One side.

It’s widely-documented that the Royals are in turmoil under Dai Yongge, with the fans regularly protesting as they seek for the owner to sell.

However, despite plenty of interest in the past, with different parties granted exclusivity to seal the deal, nothing has been finalised.

As a result, Reading remain in a precarious position, and recent claims that a Hong Kong businessman, who has a connection with Yongge, is in talks to purchase the club, has understandably not gone down well with the fans.

Reading FC hit with a transfer embargo

And, in yet another negative story for the club, Telegraph reporter John Percy has revealed that they have now been placed under another transfer embargo.

“More bad news at Reading FC - the club has been placed under a new transfer embargo by the EFL for a failure to submit their annual accounts. Obviously the transfer window is closed now but not a great look for a club that can only sign free agents and loans already.”

As outlined above, it’s not a major concern right now for Reading, as Ruben Selles is unable to strengthen his squad outside the window.

Plus, he has been working on free agents and loan signings since his appointment, so it’s not something that is going to impact the club.

However, it’s another example of the mismanagement that exists at Reading right now, with Yongge overseeing it all.

Reading FC need a quick takeover

This is stating the obvious, but it’s so important for the future of Reading that they are taken over quickly, and it needs to be a clean break from Yongge, who has just caused so many problems for the club in the past few years.

To their credit, Selles and the players have not let the constant off-field uncertainty impact them, and even though they’re 16th in the table right now, they are only three points away from the play-offs, whilst they sit six clear of the bottom four.

So, Selles has done an outstanding job, and the emergence of several talented youngsters has been a real positive on the pitch, and the fans recognise that this is a side that looks to play attacking football in the right way.

There was some positive news on Monday, as it was stated that a new potential buyer had been granted a period of exclusivity to purchase the club, and they were willing to fund the club during the process.

That will ease any short-term concerns, but fans won’t be getting too carried away as they have been in this position before, only for it all to break down late on. Of course, they will also want to know more details about who exactly is involved, but it does mean they are a step closer to Yongge’s reign coming to an end.

Selles’ men are back in action on October 19 when they host Crawley Town.