New Reading FC takeover update emerges involving US-Saudi consortium | OneFootball

Another potential bidder for Reading FC has stepped forward

A consortium backed by businessmen from the United States and Saudi Arabia have retained an interest in a takeover of Reading.

According to The Reading Chronicle, former QPR star Marc Bircham is behind the potential deal to buy the Royals.

Current owner Dai Yongge is under pressure to sell his stake in the club due to a number of financial concerns during his reign with the League One side.

Supporters have protested his ownership in a bid to increase pressure further, with the future of the club now at stake.

The Berkshire outfit have received multiple points deduction penalties in recent seasons, and have fallen to the third tier of English football under Yongge’s ownership.

Reading takeover latest

The consortium led by Bircham has previously shown an interest in purchasing the English side, with an offer being knocked back as recently as June this year.

Other bidders proved more favourable, namely Rob Couhig and Chiron Sports Group, but neither have been able to acquire the club in the months since.

Couhig, the former owner of Wycombe Wanderers, was close to completing a takeover in September, but the deal collapsed in the final stages of signing a deal.

While Bircham’s consortium still holds an interest in buying Reading, it is believed that an unknown party are currently in a period of exclusive talks to purchase the club.

This unknown party are reportedly supporting the Royals financially while a deal is being negotiated, although nothing is certain on whether this will lead to a completed purchase.

It is understood that if another deal involving Yongge’s shares collapses, then Bircham’s consortium may move forward with another attempt given they remain keen on taking over at the Select Car Leasing Stadium.

Supporters will be hoping that a resolution can be found soon in order to secure the long-term future of their side.

Reading’s League One season so far

Ruben Selles’ side have had to deal with a number of off-field issues over the last 12 months, with a lot of uncertainty surrounding the future of the club.

However, the team have remained competitive in League One, and currently sit 17th in the table after nine games played.

The Royals are only three points outside of the play-off places, while having played a game fewer than many teams in the division.

Next up for Reading is a home game against Crawley Town on 19 October in a 12.30pm kick-off.

Reading don’t have the finances to allow for this takeover saga to drag on much further, so a resolution is needed soon.

Selles has done a good respectable job as manager throughout all this uncertainty that surrounds the club behind the scenes.

Yongge is an unpopular figure among supporters, and needs to sell his shares in the club for everyone to be able to move on from this difficult situation.