Reading FC Inches Closer to Sale as Exclusive Negotiations Begin with Potential Buyer

Reading Football Club is currently engaged in “exclusive negotiations” with a potential buyer following owner Dai Yongge commitment to a letter of intent. The parties involved will now work towards finalizing the terms of the sale which could take up to two months to complete.

The sale encompasses Dai Yongge shareholding in the club, the stadium and the Bearwood Park training ground. Reading, currently positioned six points above the relegation zone has faced challenges this season including a six points deduction for financial breaches.

Despite initial interest from Genevra Associates, negotiations ceased as they were unwilling to provide financial assistance to the club before approval from the English Football League. Meanwhile, fan-led protest group Sell Before We Dai plans to raise awareness about football ownership issues outside Wembley Stadium during England’s international friendly against Belgium.

While completion of the deal is expected to take time, the news signals significant progress for the club providing hope for a brighter future amid recent challenges.