Reading takeover: Royals enter talks with new potential buyer

Reading are in talks with a potential buyer to finally put an end to the protracted takeover saga at the League One club.

This is the latest in a series of “periods of exclusivity” the Royals have had, but the others have fallen through.

Reading say they are optimistic the deal can be completed quickly and it would be “for the benefit of all concerned”.

The unnamed party are in talks to purchase owner Dai Yongge’s shareholding in the club, as well as the Select Car Leasing Stadium and the Bearwood Park Training Facility in Wokingham.

In the past few years fans have endured relegation to the third tier, points deductions and transfer embargoes during Chinese businessman Dai’s near eight-year period of ownership.

On Friday, MP Yuan Yang, who represents Earley and Woodley, joined supporters in calling for an inquiry into the ownership, which has seen protests in Westminster and at home matches.

A statement on the club’s website, external said they had “committed to a letter of intent with a potential purchaser of the club”.

“Whilst we understand our supporters’ wish to know the purchaser’s identity, at this stage, confidentiality is preferred to complete at the earliest opportunity,” the statement said.

“The club can confirm the agreed sale includes the transfer of Mr Dai’s shareholding in The Reading Football Club Limited, as well as the Select Car Leasing Stadium and Bearwood Park Training Facility.”