Reading, Bristol Rovers’ League One rivals, and a potential buyer have begun exclusive talks as the takeover gets closer, according to PA Sport.
Dai Yonge, the owner of the much criticized Royals, is attempting to sell the team, and he now has exclusivity with an interested party. The training facility, stadium, and Dai’s ownership stake in the team would all be included in the purchase.
Promotion
“The club can confirm Mr. Dai has committed to a letter of intent with a potential purchaser of Reading Football Club,” the statement from the club stated. To agree on the final terms, the parties will now begin an exclusive negotiating session. Up to two months are anticipated for completion, after which the buyer will be revealed.
The Select Car Leasing Stadium, the Bearwood Park training facility, and Mr. Dai’s ownership stake in The Reading Football Club Limited will all be transferred as part of the deal. When necessary, the club will provide additional updates through communication.
Although League One opponents Wycombe acknowledged having exclusive talks with Reading about buying their Bearwood training complex, the deal appears to be off the table at this time.
Due to Dai’s repeated failures to meet the club’s financial responsibilities under EFL regulations, Reading has already lost six points this season and has two more points suspended. Six points above the League One relegation zone, they presently occupy the 18th spot.
Promotion
The pitch was abandoned during Reading’s match against Port Vale in January when over 1,000 supporters stormed the field in protest against Dai’s ownership.
On Tuesday, April 9, the Gas will host the Royals at Memorial Stadium. In November, the teams drew 1-1 at Select Car Leasing Stadium. All 1,500 tickets that Reading was given for the game have already been sold.
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