Reading owner Dai Yongge is demanding £70-80 million from suitors to complete a sale of the club amid a dismal week for supporters, according to The Athletic.
It was first reported on Tuesday by The Telegraph that the Royals would be placed under another transfer embargo for the club’s failure to pay the HMRC on time. This is Reading’s third transfer embargo in the space of three months.
However, it was also revealed by The Telegraph that Reading face a third points deduction of the season today if staff and player wages are not paid on time, a symptom of a spiralling situation in Berkshire.
Thankfully, journalist James Earnshaw has announced that all wages have been paid on time, offering some relief to fans during this trying period.
Nonetheless, there was some positive news that came from The Telegraph’s damning report. The outlet are claiming that there are three suitors interested in purchasing the club from Dai Yongge.
One of these potential buyers is William Storey, as per Courtney Friday. Storey previously attempted to acquire Coventry City and Sunderland in the past and was reportedly holding a meeting with the board at the Select Car Leasing Stadium last Monday.
But Dai Yongge’s price tag is certainly a hefty one. In an article published this morning, The Athletic revealed that the Chinese businessman is holding out for between £70-80 million to buy the club. This includes all of Reading’s assets too such as the stadium and the training facilities.
The Athletic have also reported that Dai is still owed £83 million from the club in loans. It is unclear at this time whether any possible buyers would be willing to match the owner’s demands.
Writer’s View
As outlined by Football League World, West Bromwich Albion owner Lai Guochuan is seeking £50 million to sell the Baggies. Dai Yongge wants £20-30 million more for a club in a lower division and in an even more strenuous financial situation.
Given his price demands, it’s unlikely that any suitors are willing to go this high so it could be quite a while before any deal is done.
