Reading FC provide fresh takeover update as uncertainty continues | OneFootball

Reading FC have shared an update to supporters over a potential takeover of the club.

Reading have confirmed that an exclusivity period with a potential buyer of the club has expired, although they are in talks with other interested parties.

Supporters of the League One outfit are desperate for a sale to go through, with owner Dai Yongge having overseen their demise in recent years.

During that period, Reading have been hit with deductions, and there have been many financial problems which have impacted the club.

Reading are in talks with prospective buyers

Yet, despite regular protests demanding change, several buyers have failed to finalise an agreement with Yongge to buy the Berkshire outfit.

And, that has happened again, with Reading sharing on their official site that a period of exclusivity with a buyer had now ‘expired’.

However, it wasn’t all bad news for the Royals, as the same update states that ‘several credible bidders have declared interest’ since, so there is hope that they will progress.

As well as that, the club also met their financial obligations to HMRC and the staff this month, and they confirmed that Yongge had contributed to that.

Reading explain January transfer outgoings

Having lost manager Ruben Selles to Hull City in December, Reading fans were fearing how the January window would play out, and there was huge frustration when Sam Smith was sold to Wrexham on deadline day.

Furthermore, exciting youngster Tyler Bindon was sold to Nottingham Forest, although he was immediately loaned back, so he will finish the season with the club.

In the message to fans, the club claimed that the sales were not driven by the need for short-term funding, as they simply received offers that they couldn’t refuse.

They also said that offers were rejected from other clubs who tried to sign Reading players, but the club were determined to keep Noel Hunt’s squad as strong as possible.

Reading can’t move forward until takeover is sorted

Ultimately, this is another frustrating update for Reading fans, as the club has failed to progress with a buyer who had been granted a period of exclusivity.

Whilst it’s encouraging that there are ‘credible’ bidders in talks with the club, the reality is that Reading supporters will believe it when they see it.

They have been down this road many times in the past 12 to 18 months, and a deal hasn’t been done. Until that happens, Reading won’t be able to progress, and fans will no doubt continue to protest as they try to force the change that’s required.