Reading Owner Makes Takeover Decision

Reading owner Dai Yongge still has no intention of selling the club, despite increasing pressure from supporters, according to journalist Darren Witcoop.

The Berkshire-based club have endured a torrid time as of late, and last week’s three point deduction for failing to comply with a funds deposit order was their second such sanction this season. The Royals have been docked an incredible 16 points over the past two years and supporters made their thoughts known during the 2-1 win over Bolton Wanderers at the weekend by throwing tennis balls onto the pitch.

The Chinese businessman yesterday was charged by the EFL, issuing a statement which read;

“Reading FC’s owner, Mr Yongge Dai, has been charged with misconduct after failing to comply with the order of an independent Disciplinary Commission which required him to deposit an amount equal to 125% of the Club’s forecast monthly wage bill in a designated account by 12 September.

“The League considers these further proceedings against him personally are necessary given the repeated failings in meeting the Club’s funding requirements which have only a detrimental impact on the Club and its wider stakeholders.

“This matter will now be considered by an independent Disciplinary Commission in accordance with EFL Regulations.”

Despite this, Yongge remains steadfast in his view that he will retain ownership of the club, although several interested parties remain keen on a takeover. Posting on X, Witcoop confirmed the owner’s stance, saying;

“Reading owner Dai Yongge still has no plans to sell the troubled L1 club. Believe a US-based private equity investor group made their interest known in last month. Keen to break into British football. Not only interested party but takeover talks never got off ground.”

Although having lost four points this season and having to contend with various transfer restrictions during the summer, manager Ruben Selles is doing an excellent job of making the best of what he has, winning three of their opening seven fixtures.

Last weekend’s win over Bolton was followed up in midweek by a stunning 9-0 victory over Exeter City in the EFL Trophy on Tuesday night. They’ll be looking to make it three successive wins in all competitions when they travel to Blackpool on Saturday.

Writer’s View

Reading fans will not relent in their pressure to get Dai Yongge out of the club and nor should they. It is difficult to find a more poorly ran club than the Royals at the minute, and the sanctions and fines against both themselves and the owner are likely to continue as the season progresses.

It’s hard to see a situation where the businessman remains at the Select Car Leasing Stadium in the long term. Ruben Selles and his players must continue to grind out results under very difficult circumstances, whilst the supporters keep up their efforts with their peaceful protests. It’s fair to say that every football fan is thoroughly behind their efforts.

1 of 15

Who is this nineties footballer?


Be the first to comment

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.