The English Football League (EFL) has released a statement regarding the court case that has involved Reading Football Club and owner Dai Yongge.
It was concluded earlier today that Dai Yongge was not granted an injunction against previous prospective buyer Rob Couhig with the pair in a legal battle.
A statement from the EFL reads: “Following its disclosure in open court earlier today, the League can confirm that Mr Yongge has been recently disqualified under the EFL’s Owners’ and Directors’ Test.
“The disqualification requires Mr Yongge to divest his interests in the Club, and in the event that he fails to do so within the agreed timeframe, the League will consider all options available within its regulations to bring the matter to a conclusion.
“The League continues to work closely with Reading FC to progress a sale of the Club at the earliest opportunity, in order to end the current uncertainty surrounding its future for its staff, supporters and wider community.”
A statement from Reading Football Club said: “The Club acknowledges the Judge’s clear indication that the parties should find a solution to the current impasse regarding the sale of the Club by way of its owners providing alternative security or a payment into escrow.
“To allow a sale to proceed, the Club looks forward to working with Mr Couhig to resolve this element of his claim.
“Mr Dai remains committed to working with the EFL to sell the Club and secure its long-term future.”
