Major Reading FC takeover concern shared involving SCL Stadium | OneFootball

Reading FC owner Dai Yongge has debts to a Chinese bank which could prevent his sale of the club.

Reading owner Dai Yongge is struggling to sell the club as he has debts of around £55m to a state-backed Chinese bank.

The Royals’ off-field issues are well-documented, with the club having been hit with points deductions in the past, and they continue to operate under a transfer embargo.

This has prompted regular protests from the fans, who are desperate for a change in ownership. However, despite deals having been agreed, various proposed takeovers have not been finalised.

Dai Yongge debt claim made

And, in a fresh development, the Guardian has stated that Yongge’s attempts to sell the club have been ‘jeopardised’ by a ‘previously undisclosed debt of more than £55m’.

The update adds that this was a factor in Rob Couhig’s takeover of Reading falling through due to this, as documents showed that the ‘bank has the right to take ownership of Reading’s stadium if it is sold without the debt being repaid’.

This stadium issue could also be problematic for any future buyer, with the club announcing this week that they had entered a period of exclusivity with a new bidder.

Worryingly though, the Guardian say sources have told them they are ‘sceptical’ about whether a sale will take place.

This is a very concerning update for Reading fans, as it’s clearly a major obstacle to any sale, and it’s something that Yongge needs to resolve.

With the stadium involved, it shows that there’s a lot on the line for Reading here, and fans will be wanting some clarity about what exactly is going on.

Sadly, history suggests they won’t get the honesty they want from Yongge, and it’s a very bleak time for the club after this update.

It also begs the question of how the EFL and FA have allowed a situation like this to develop, and more scrutiny will be on all involved as to how this was passed previously.

With the numbers involved, it’s hard to imagine how any business will want to get involved in buying Reading due to this issue, and the prospect of a bank taking the stadium is something that will worry all connected to the club.

There had been some optimism earlier this week as another interested party emerged, but this has knocked all of that out of the supporters, who will now be questioning the future of the club.

This is yet another problem for Ruben Selles and the players, who have had to deal with so much over the past few years.

To their credit, they have still managed to perform on the pitch, but it will once again impact the mood around the club - as you would expect.

Reading are currently sitting 15th in the third tier, and they are back in action on October 19 when they welcome Crawley Town to the Select Car Leasing Stadium, and further fan protests are sure to take place on that day.