Fresh potential Reading FC takeover development shared | OneFootball

Journalist, Alan Nixon, has provided an update on the Reading FC ownership situation.

Reading FC owner, Dai Yongge, has found a potential new buyer for the club.

That is the latest development provided by journalist, Alan Nixon, via his patreon, who claims that Yongge is looking to sell the troubled club to a mystery Chinese group.

While the potential purchasers currently remain unknown, it is thought that Yongge has been in talks with them over a possible sale. Of course, for the deal to be completed, the mystery group would have to be identified to the EFL in order for the governing body to give them clearance, as explained by Nixon.

Reading supporters have become increasingly desperate for the Chinese businessman to sell the club, and they thought that their wish had finally been granted when former Wycombe Wanderers owner, Rob Couhig, looked to be taking over.

The deal was even approved by the EFL, but on the 18th of September, Reading released a statement detailing the fact that the takeover had collapsed, as the two parties could not come to an agreement.

Yongge would then have to go out and search for new potential purchasers, which he may well have done with this mystery Chinese group, having been in talks with them.

Yongge's spell as Reading FC owner

Dai Yongge took ownership of Reading back in May 2017 along with his sister, Dai Xiu Li, with the EFL having no objections to the deal. At the time, the Royals were fighting for promotion back to the Premier League, and fell agonisingly short to Huddersfield Town in the 2017 play-off final.

However, things went downhill after that, under the ownership of Yongge, and they have not recovered since. There were a lot of financial struggles off the pitch, as Reading had breached the EFL financial fair play rules. In February 2022, it was revealed that the club had reported an annual net loss of £35.5 million, which was way beyond the EFL's limit of £13 million.

Issues off the field affected performances on it, as Reading suffered relegation from the Championship in 2023. The club were picking up several point deductions and other punishments as a result of their financial struggles, and eventually Yongge put the club up for sale.

The Chinese businessman is yet to sell the club, and supporters are becoming desperate and frustrated, but they will be praying that this new development involving a mystery Chinese group will come to fruition.

Reading's season so far

The Royals play their football in League One, despite once being a Premier League club, and are continuing to struggle on the pitch. Former Southampton boss, Ruben Selles, is the man at the helm, but even he is unable to find some form with Reading this season.

After nine games, the Royals sit 16th in the table, having won four, drawn one and lost four of their nine opening fixtures. Their results show a real lack of consistency, which is rather unsurprising given the off-the-field problems, as they will most likely come as a distraction.

This weekend, Reading travelled to Rotherham, who had been struggling in their own right, and suffered a 2-1 loss at the hands of Steve Evans' Millers. Before that, they picked up consecutive wins over Huddersfield Town and Burton Albion, but that was after they got thrashed 5-2 by Bolton.