Reading are in “exclusive negotiations” with a buyer after owner Dai Yongge committed to a letter of intent.
Both parties will now try to agree the final terms which could take up to two months, the League One club confirmed.
The sale will include Dai’s shareholding in the Royals, the stadium and Bearwood Park training ground.
Reading, who are six points above the drop zone, have had six points deducted this season for financial breaches while Dai tries to sell the club.
More to follow.
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