Reading FC's Ownership Transition: A New Era in Sight

Reading FC has agreed to terms on the club's sale as the English Football League (EFL) extends the deal's closure deadline to May 5. The club's Chinese owner, Dai Yongge, is selling following disqualification. The agreement covers Reading's stadium and training ground, with a buyer's support ensuring operational stability.

Reading FC has reached an agreement over the sale of the club, with the English Football League extending the transaction deadline to May 5. This is the second extension granted since Chinese owner Dai Yongge was disqualified under EFL's directors' test, mandating a sale.

The club confirmed an agreement with a buyer, covering the sale of its Select Car Leasing Stadium and Bearwood Park training base. While the buyer's identity is confidential, both parties intend to finalize the transaction soon, with the buyer supporting the club's financial obligations to maintain operations.

Yongge initially had until April 4 to finalize the sale, but extensions were granted due to compliance requirements. Fans have blamed Yongge for financial mismanagement that led to penalties, including a six-point deduction and withdrawal from the Women's Championship. Currently, Reading stands just outside the League One playoff spots.

(With inputs from agencies.)