the Royals are reportedly nearing an agreement for a takeover deal. This development could potentially bring stability and positive changes to the club.
HIGHLIGHTS
Talks with potential buyers at Reading yesterday have left both parties feeling positive.
Movement could happen in the next 24-48 hours.
A deal could including the Bearwood training facility.
Numerous meetings with interested parties took place at Reading yesterday ahead of a potential sale, according to James Earnshaw.
Ruben Selles’ team has been in need of a takeover for a while due to missed payments to HMRC and late wage payments, leading to issues with the EFL and Independent Disciplinary Commission.
Over the past two and a half years, the Berkshire team has experienced an 18-point deduction from their total points. Additionally, a six-point sanction during the latter stages of last season essentially led to their relegation to League One.
Despite a 4-0 victory against Cambridge United over the weekend, the team’s deduction of six points this season has kept them embroiled in a relegation battle.
Concerns for the club’s future escalated last week with the announcement that owners Dai Yongge and Dai Xiu Li, along with CEO Dayong Pang, planned to sell their training ground to League One’s Wycombe Wanderers.
The plan to sell the training ground has been temporarily halted, which comes as a relief to many of the Royals’ supporters. However, some were concerned that this could have complicated matters regarding a potential takeover.
On Friday, reports surfaced indicating that a North American group might be ready to negotiate a deal for the club, possibly excluding the Bearwood training facility but including the Select Car League Stadium.
Latest on Reading FC takeover situation
Despite these fears that this failed training ground deal would put a spanner in the works, Reading Chronicle journalist Earnshaw has revealed that multiple meetings took place between the interested parties and Mr Dai’s representatives yesterday.
It’s believed that both sides left these talks feeling “very positive”, which will come as a boost to supporters who are keen to see the club sold as quickly as possible.
Senior staff at the SCL Stadium are thought to be confident of a decision or movement on exclusivity in the next day or two – and it has also been reported that a deal could include the training facility.
The interested parties are yet to be officially named by any journalist, but it has been revealed that the Royals’ links to German investor Daniel Loitz are wide of the mark.
Reading fans will be feeling cautiously optimistic
The collapsed deal with Wycombe Wanderers raised concerns and fears among Reading fans, who strongly desire to maintain their club’s state-of-the-art training ground rather than see it sold off.
Although it’s costly to run, those costs can surely be reduced further and they could also find ways of generating revenue from the ground.
Despite the training facility not being an obstacle to a potential sale, Reading’s supporters will approach the situation with cautious optimism.
They understand that a deal isn’t finalized until it’s officially completed, and this mindset of combining optimism with sensible caution is crucial during negotiations and potential sales.