We examine the most recent developments about the Royals’ takeover scenario, which clearly calls for a sale.
Team League One Reading is in dire need of a takeover because of their ongoing financial difficulties.
Another winding up petition may be imminent due to the embargo imposed for failing to pay HMRC on time, which is concerning for a club that has already dealt with a number of petitions under current owner Dai Yongge.
You sense that the Royals are getting closer to going out of business since a solution hasn’t been found, and things aren’t going well on the field either.
The Berkshire team is currently at the bottom of the third-tier table and is facing consecutive relegations, which is the last thing they need as they attempt to attract new investors.
| League One | P | GD | Pts | |
|---|---|---|---|---|
| 20 | Northampton Town | 14 | -2 | 14 |
| 21 | Carlisle United | 16 | -6 | 14 |
| 22 | Fleetwood Town | 14 | -10 | 12 |
| 23 | Cheltenham Town | 15 | -18 | 8 |
| 24 | Reading | 14 | -12 | 6 |
Supporters are inconsolable over their current predicament, and that’s understandable given that the club is on the verge of collapse, if it hasn’t already.
While a takeover won’t fix every issue, it will increase the club’s prospects of surviving, and many supporters would be happy to accept that at this point—as long as the bills are paid, of course.
In keeping with this trend, we examine the most recent Royals takeover rumors.
Journalist Tim Dellor of BBC Radio Berkshire has disclosed that plans are presently in place for possible new owners to settle invoices on the same day.
At this moment, the Royals have two deadlines to meet: they have to pay HMRC to lift their embargo and prevent another winding-up petition, and they also have to pay their players and staff.
The EFL penalized them for failing to pay players on time and in full on three times last season. Paying players and staff on time proved to be a problem on many occasions last term.
Dozy Mmobuosi, a former Sheffield United bidder, apparently contributed money to the Blades but was unable to get his agreement approved in the end, despite the fact that this update may signal the impending takeover.
After Frasers Group helicopters were posted on social media on Sunday, rumors circulated that Mike Ashley was considering purchasing the Royals a few hours later.
Given their history together at Newcastle United, Alan Nixon thinks Alan Pardew would rejoin the Berkshire team if Ashley agrees to a buyout transaction and sees it through to completion.
Ashley’s friends indicated he may be a good deal for the Royals, and because the former owner of the Magpies is open to taking on a new project, the third-tier team might be the right fit for him.
Although Rich Energy’s CEO, William Storey, has been unsuccessful in taking both Coventry City and Sunderland in the past, he is certain that his consortium can buy the club.
He stated, “I think I would absolutely be in pole position [to take over the club],” in an interview with BBC Radio Berkshire on Friday.
Several intriguing names have been floated around.
“There’s a US investment firm, there’s also Gymshark which is a UK retail brand, a brand which I always thought Rich Energy would be bigger than but a good brand that’s conceived well and a good business.”
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