However, Sir John Madejski acknowledged that the “idea appealed to him” even if he is not in a position to purchase Reading Football Club.
The former Royals chairman discussed the club’s ongoing ownership conundrum with BBC Radio Berkshire’s Andrew Peach on Friday morning in response to the revelation that owner Dai Yongge was willing to sell.
He also commended the efforts of Reading Borough Council and the Supporters Trust at Reading in obtaining Asset of Community Value status for the Select Car Leasing Stadium, formerly the Madejski Stadium.
Sir John responded, “I just don’t have the money to do it, as much as the notion appeals to me, to the question of whether he was interested in stepping in to acquire the club. I have always supported Reading Football Club, and I believe that my involvement with the team comes before [myself].
“It’s time for someone who is younger than me to take the helm, work hard, and make it work. It’s a fantastic opportunity, and I believe it will be successful.
Following point deductions in three straight seasons, unpaid HMRC tax bills, and tardy wage payments, fans have urged Mr. Dai to sell up.
Due to the enormous amount of money the Chinese tycoon had put in the team, Sir John earlier this year urged fans to continue supporting him, but his position now seems to have changed.
He described the club’s current situation as “absolutely diabolical” My heart goes out to all the Reading FC employees and supporters who have been so devoted to the team for a very long time.
Since all of this could have been avoided if Mr. Dai had merely concerned the locals on the ground, the situation is quite severe and completely without cause or even sense.
He erred by seeking advice from those who had no connection to Reading FC. These extraordinary, accomplished, global agents.
Sir John continued by calling the club a “good bargain” for a prospective buyer and speculating that Mr. Dai would be prepared to sell for £20 million. He further claimed that Reading might be about to enter receivership, in which case a receiving officer would take over management of the club.
He stated that he and the team’s former CEO, Nigel Howe, have been in contact with potential buyers.
The man who originally developed the Select Car Leasing Stadium applauded the council’s decision on Thursday to protect Reading FC’s home field by giving it ACV status. He claimed to have “applauded” the efforts of the local government and supporters in making it happen.
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