A period of exclusivity with an unidentified group has ended, according to a statement released by the League One team. Reading owner Dai Yongge has been trying to sell the financially troubled club for a while, and the Royals are still under a transfer embargo for the late filing of accounts. During Yongge’s turbulent tenure as owner, the club had a previous transfer ban lifted in August 2023, and bids from former Wycombe Wanderers owner Rob Couhig and former Reading chairman Roger Smee were rejected last year. This raises doubts about a potential takeover of Reading Football Club.
“As the goal is still to sell to a buyer who has the resources and intention to move the club forward, discussions with alternatives are currently taking place,” the club’s website stated.
Numerous reliable bidders, some of whom have dealt with football transactions before, have expressed interest, and the club is coordinating with all pertinent parties to reach an agreement as soon as possible.
“Whilst the club acknowledges the previously failed transactions are disappointing for everyone, especially our supporters, it is anticipated the legal and due diligence work completed so far will prove advantageous when trying to move new bids forward.”
The club claims that Yongge contributed money to ensure that wages and payments to His Majesty’s Revenue and Customs were made on schedule in spite of continuous financial issues.
Tyler Bindon joined Premier League team Nottingham Forest earlier in January before being loaned back to the Royals, and the club traded striker Sam Smith to Wrexham earlier this week for a reported sum over £1 million.
The transactions, according to the club, were not “pre-planned as an opportunity to solve the club’s short-term funding”.
“Wrexham’s fee proved to be too large in the case of Sam Smith, who had previously turned down smaller bids.
“Even if the club had no intention of selling, it was necessary to weigh this against the immediate financial stability that such a high amount would offer.
“There was a lot of outside interest in Tyler Bindon because his contract was up at the end of this season.
Given Tyler’s significance to the first team squad, the club’s first objective from the beginning was to retain him for the rest of this season.
Nevertheless, a compelling offer from Nottingham Forest offered the team a chance to gain both financial and
keeping Tyler on as a temporary employee.
“Even though a number of clubs made bids for other players, none of them were accepted because the team wanted to keep its playing roster strong.
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