Genevra Associates makes final bid as Reading FC takeover becomes imminent

Luxembourg-based hedge fund Genevra Associates are back in the race to buy League One side Reading, according to The Telegraph.

The Royals were the subject of interest from the same party back in November and were even thought to be on the verge of gaining exclusivity during the same month, but a deal collapsed in the end.

However, they seem to have unfinished business with the Berkshire outfit, and remain keen to get a takeover deal over the line with the troubled third-tier club in desperate need of a sale.

Current owners Dai Yongge and Dai Xiu Li have been targeted by protests in recent months and a pitch invasion even occurred in January in fans’ desperate attempts to get him to sell the club – and exclusivity could be given to a potential buyer before the end of the month.

Since the Royals are currently not safe from relegation, there were and are legitimate worries about administration and even liquidation. However, many fans have grown optimistic that their suffering under the Dai siblings’ leadership is finally going to end.

There are two other bids on the table in addition to Genevra’s, and Mr. Dai is reportedly getting close to deciding which bidder to accept.

And the club hopes to sign a statement of intent with this preferred bidder before the end of the month, which will cover a lot of ground, including when a possible sale would happen.

When Genevra attempted to take over the team last year, former Wigan Athletic chairman Talal Al-Hammad was involved in talks; however, it’s unclear if that’s still the case at this time.

Reading FC shortfall issue set to be solved

Many Royals fans are worried about the alleged £1 million shortage, and some have even banded together to sell tickets in order to generate funds for the team.

The Telegraph claims that sponsorship revenues will likely cover this shortfall, eliminating the chance of two more points being subtracted in the near future.

The Royals appear to be on track to escape this punishment, which will relieve supporters concerned about the potential effects of a further deduction on the squad. This automatic deduction is expected to occur if HMRC and wages aren’t paid this month.

Reading FC fans will want this takeover saga to be over as quickly as possible

Supporters will be pleased to hear that the shortfall is expected to be covered.

Fans will be hoping that this news is correct because another point deduction might have a very detrimental impact.

Supporters, meanwhile, will simply want this ordeal to end as soon as possible in terms of a takeover.

The Royals are now just about scraping by without a new owner after this ordeal that has lasted for months.

The Berkshire club may benefit from some much-needed stability from its new owners.