Reading FC: Big takeover update emerges as Dai Yongge era looks set to end | OneFootball

The long-awaited takeover of Reading FC looks as though it is moving ever closer to completion.

That's after a report from Football Insider claimed that Swiss company Chiron Sports Group has now reached an agreement to buy the club from Dai Yongge.

The Royals have been up for sale for some time now after a turbulent and difficult period under Yongge that has led to numerous penalties from the footballing authorities, and questions over the club's existence.

However, it was reported back in March that Chiron had entered exclusive talks to buy the club and secure its future.

Now, this latest update has claimed that the group has reached an agreement with Yongge to buy Reading FC, suggesting a takeover could soon be confirmed.

Chiron and Yongge reach takeover agreement

As per this report, Reading could now be set for a takeover that would bring an end to Yongge's time as owner of the club.

It is thought that after a breakthrough in the talks that have been ongoing for the past couple of months, Yongge and the Chiron Group have now agreed a deal in principle that would see the latter take control of the club.

With that agreement now reached, the Football League are now expected to conduct their Fit and Proper Persons Test, to confirm that the Swiss company are eligible to take control of the Royals.

As a result, all parties will now await confirmation from the league to go ahead with the takeover.

The group does already have footballing connections, including with links to Italian second-tier side Venezia.

It is backed by German entrepreneur Christian Angermayer, with Robin Lauber and Sam Helmey - who has previously invested in Leyton Orient and Vitesse Arnhem while also advising on a takeover of Bristol Rovers - are among the investors.

Meanwhile, former Charlton Athletic director Leo Rifkind is currently employed to manage the group.

Amid the financial troubles they have endured under Yongge with a number of unpaid bills, Reading have been deducted 18 points during his time as owner.

That saw the Royals relegated from the Championship last season, before finishing 17th in League One during the current campaign, nine points clear of the relegation zone.

A welcome relief for Reading FC

This is surely going to be welcome news for everyone associated with the Royals to see.

It is has been an incredibly challenging period for the club, where those issues under Yongge have led to some concerns about the very future of Reading FC.

Meanwhile, with other promising claims about a potential takeover having fallen through, there may have been some wondering whether a potential buyer would ever be found.

Now though, this revelation suggests that progress is being made in order to secure the new owner that those connected with Reading FC undoubtedly want for the club.

That in turn, will leave many hoping for a brighter and more secure future for the Royals, especially given the promise they showed in such testing circumstances under Ruben Selles this season.

Of course, there is still the process of the Football League's checks that need to be completed before there can be any official confirmation, and those will surely be watched for closely by every fan of the club.

For now though, those of a Reading FC persuasion do look as though they can at least feel somewhat more confident about what the future might hold for their club.