Reviewing the terms of the sale with the buyer
Reading have established negotiations with a buyer over the sale of the club and the English Football League has
extended the deadline to conclude a deal to 5 May.
Since owner Dai Yongge was disqualified under the EFL’s Owners’ and Directors’ Test, the league has granted the
Royals an extension to finish a sale for the second time.
The team now has 13 more days to finalise an agreement after the initial extension ended on April 22.
In early April, Reading resumed negotiations with a buyer, claiming to be in “advanced dialogue” with them.
The Select Car Leasing Stadium and Bearwood Park training facility are among the “further progress” that the club
has now stated has been made towards the sale.
whose identity must remain confidential at this moment. The club stated that both sides will now endeavour to finish
the procedures required to finalise the transaction.
“The buying party will be supporting the club’s immediate financial obligations until the transaction is complete, and
as such, day-to-day running of the club will be unaffected.”
In order to “divest his interests” in the team, Yongge was granted a second extension, according to the EFL.
If he fails to do so within the specified time range, the EFL has to ability to stop Reading from playing matches.
“Earlier today, the EFL board granted a further extension until Monday 5 May for Mr Dai Yongge to divest his
interests in Reading FC,” the English Football League stated. external
Additional work has been made regarding the prospective sale of the club since our last update on April 3.
“As a result, the board deemed it appropriate to agree to the club’s request to allow more time for matters to be
concluded in accordance with EFL regulations.”
Leyton Orient is in the final play-off spot above Reading, who are tied for seventh place in League One.
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