Reading FC takeover news: What exactly is going on? | OneFootball

We have taken a look at the Royals' takeover situation, with very few updates coming out and all parties potentially keen to keep things under wraps.

Many fans of League One side Reading lost all hope when Rob Couhig's deal to purchase the club collapsed.

There have been quite a few false dawns at the Select Car Leasing Stadium since Dai Yongge pledged to sell the club, with Genevra Associate's deal also breaking down.

However, it was revealed earlier this month that the club had entered another period of exclusivity - and that's a real positive for a club that needs a takeover to go through as quickly as possible.

It seems inevitable that the curtain will come down on Dai Yongge's reign sooner rather than later and, for everyone's sake, including his own, it would make sense for him to sell up as quickly as possible.

He doesn't have 100% control over how quickly the takeover can go through, with the interested party needing to satisfy the EFL before they can take control of the Royals, but he does have the final say on whether a suitable party can take control of the club.

There have been numerous protests against Mr Dai since the summer of last year and there's a huge amount of pressure on him to sell, but until he puts pen to paper on a final deal and a takeover is announced, many fans will be nervous about the possibility of another takeover attempt falling through.

Recent wins against Crawley Town and Exeter City have helped to lift spirits, but off the pitch, there may be plenty of work still to do to get a takeover sealed.

Until a takeover happens, it doesn't seem as though the Berkshire outfit will be able to push on and enter a bright new chapter, so it will be fascinating to see how this saga unfolds in the coming weeks, and potentially months.

Reading FC's exclusivity period

On October 7th, the club confirmed that Mr Dai had entered a period of exclusivity with a potential buyer. It was also stated that both parties were "working hard" to try and get a sale over the line as quickly as possible.

Funding also seems to be in place until the sale's "intended" completion, although it remains to be seen whether sufficient funds will be in place if this takeover attempt is dragged out or falls through.

The one major positive of that update is the fact that the proposed sale will include the club, the stadium and the training facility, meaning Mr Dai will have no control if these terms are agreed and a takeover is finalised.

Positive Reading FC updates have emerged since exclusivity began

Since that update, a report from The Guardian revealed that Haitong International Securities, a Chinese state-backed investment bank, previously put a stop notice in place to prevent the sale of the club to previous bidder Couhig because of an unpaid secured debt.

The investment bank could potentially take control of the stadium if this debt isn't repaid - and this raised concerns regarding whether it would be possible for the club to be sold.

However, the Reading Chronicle have reported that this won't prevent a future sale and that the prospective bidders are working through this issue.

It has also emerged that the EFL are aware of the bidders, which can only be positive news for Royals fans.

A worrying update was revealed earlier this week when it was reported that Walker Morris had lodged a winding-up petition against Renhe Sports Management, the holding company through which Dai owns the club.

Walker Morris were previously the lawyers that were handling the club's sale on Mr Dai's behalf. It's believed, however, that this winding-up petition hasn't impacted the club and that a sale is still progressing.