Finance expert clears up Mike Ashley decision amid Reading FC takeover claims | OneFootball

Highlights

Football finance expert Kieran Maguire has spoken out amid Mike Ashley's reported bid to purchase Reading FC.

Mike Ashley appears to be the front-runner to buy Reading FC as Royals fans hope to see an end to Dai Yongge's failing ownership of the club sooner rather than later.

Another bidder who has stated his interest is entrepreneur Will Storey.

The Royals currently sit in the League One relegation zone partly thanks to a four point deduction imposed upon the club due to Yongge's inability to provide the correct finances.

In a post on X, Kieran Maguire said: "Some Reading fans have been asking if Mike Ashley selling Missguided is a prelude to him buying (the) Royals.

"I don't think that's the case, mainly because MA's MASH Holdings already has over £1/2 billion cash in the bank account."

Below this text, Maguire also posted an image of MASH Holdings Limited's group balance sheet showing figures from 24th April 2022.

Missguided are a women's fashion group formerly owned by Ashley's Frasers Group prior to a recent sale to Shein.

MASH Holdings is the company Ashley uses to take care of all his business holdings.

As per Kieran Maguire's X post, it would appear as though the timing of Ashley's sale of Missguided is conincidental to his interest in Reading FC.

Yesterday, it was reported that Frasers Group helicopters landed outside the Select Car Leasing Stadium amid Ashley's interest in the Royals.

Would a Mike Ashley take over be right for the Royals?

Quite frankly at this point Royals fans would want almost anyone other than Dai Yongge to be in control of the club.

His financial mismanagement has led to several points deductions.

Yongge has already been charged for failing to provide monthly wages at the football club.

In addition to this, the club have also fallen foul of tax obligations which has resulted in further punishment, such as a transfer embargo.

But, Mike Ashley wasn't exactly a popular owner at Newcastle United.

Newcastle fans were well known to express their displeasure at the stark advertisement of Sports Direct at St James' Park.

But at least Mike Ashley has bags of experience in football ownership having been Newcastle United's owner for 14 years.

It seems unlikely that Ashley would run Reading into the ground in the same way that Dai Yongge has.

Prior to Saturday's game against league leaders Portsmouth, Reading fans gathered in large numbers and marched from Reading town centre to the Select Car Leasing stadium to express their displeasure at Yongge's ownership of the club.

Reading initially held a 2-0 lead on Saturday courtesy of first half goals from Lewis Wing and Charlie Savage.

However by the 58th minute, Portsmouth led 3-2 as Colby Bishop assisted Terry Devlin for his first goal of the League One campaign.

Saturday's defeat was the fifth successive loss for a club who are struggling both on and off the pitch.

The Royals currently look destined for League Two and are in need of a takeover to avoid back-to-back relegations.