Reading FC takeover latest: Leo Rifkind blow, Dayong Pang's claim, “life support” claims | OneFootball

You have to feel for Reading fans at the moment.

When it looked like things could only get better, things have got worse in recent days and the threat of liquidation is a very real one now for the Royals. It's a scary time to be a supporter of the club.

A protest group may have started up in June, but at that point, not many people thought the Berkshire outfit would be in this situation at this stage.

Not only are the club struggling off the pitch, but they are also in relegation danger on it and their midweek loss against Derby County was a further setback to them in their quest to survive.

The Berkshire side put in an admirable performance that night and were the victims of some terrible refereeing decisions, but they need to turn performances into points if they are to give themselves the best chance of staving off relegation.

What happens on the pitch may not matter if they can't survive off it though, with owners Dai Yongge and Dai Xiu Li taking the club to the brink.

Leo Rifkind pulls out of Reading FC takeover talks

The club confirmed yesterday that talks were ongoing with owner Mr Dai and League One rivals Wycombe Wanderers regarding Bearwood Park, the Royals' training ground.

The decision to sell the facility could end up being extremely detrimental to the club's cause.

Not only is control of their current training patch set to be handed over to a fellow third-tier club, but they don't own the Select Car Leasing Stadium either.

With this in mind, it may be harder to sell the club and to reinforce this point, a consortium led by Leo Rifkind have pulled out of the race to secure a takeover deal after this news, according to The Athletic.

Chiron Sports Group were the consortium previously interested in buying the club, with Rifkind as the potential lead, but it looks as though that deal will not be materialising anytime soon.

Dayong Pang's Reading FC sale claim

CEO Dayong Pang has claimed that Mr Dai still intends to sell the club despite this move to cash in on the training ground, which will generate a lot more revenue than the £1m shortfall they need to make up for March.

In an official club statement, he is quoted as saying: "Whilst an agreement is not yet finalised, both parties will move forward with the process exclusively.

"The proposed transaction will directly support the short-term funding of the club until a full sale can be concluded.

"Further updates, including possible options for an alternative training facility, will be communicated when appropriate."

The phrase "full sale" will puzzle supporters, considering the board are planning to sell off a piece of the club.

The Sell Before We Dai campaign, which has put pressure on Mr Dai, believes the Dai siblings never intended to sell the Royals despite claiming otherwise.

Their statement came following the report from The Athletic that the Berkshire side were set to sell Bearwood Park.

They said: "The news that Reading FC owner Dai Yongge, his sister and fellow owner Dai Xiu Li, and CEO Dayong Pang, are selling our training ground shows that they never intended to sell the club.

"They’re intent on only one thing – killing Reading FC – a club with a proud 152-year history. This club is now firmly on life support."