Reading FC is vital to our local community; it is much more than a collection of assets to be valued and traded. Since I’ve gotten involved in efforts to save the club, supporters from across the country have reached out to share their affection for the Royals.
The messages are often deeply personal and reflect fans’ despair at the current situation. “The club is a foundation of our community that brings friends and family together over the generations”, one noted. Another said, “I have witnessed the club’s demise
in slow motion, up close, and with a heavy heart”.
I was glad to amplify the voices of Reading fans like these at the debate that I’m chairing in Parliament on March 6th, in which MPs from across the country and I described the problems we all face with football finances and governance. Many of my fellow MPs
also represent clubs that have also suffered from absent ownership or poor management.
To address these issues, we need an independent football regulator. The Football Governance Bill will resolve many of the issues raised. However, for some clubs, the Bill may not come soon enough, nor can it be applied retrospectively. And the passage of the
Bill has been sadly delayed in the House of Lords by Conservative peers, who have filibustered it. This is shameful and only serves to delay much-needed progress.
Reading FC’s story presents a vital opportunity to learn the right lessons and how to avoid the same mistakes again. During Dai Yongge’s ownership of Reading FC, the club’s challenges have mounted. From points deductions to staff redundancy, the mismanagement
has been devastating. While fans have demanded answers, the silence of the owners has been deafening.
The collapse of a near-sale last summer has only deepened uncertainty, with reports suggesting complications involving the stadium being allegedly used as collateral for loans abroad. Thankfully, we hear these complications have now been resolved. I’m pleased
to hear the news that the club have entered a period of exclusivity with a new potential buyer. I’ll be watching this process very closely.
In the past six months, I’ve brought attention to Reading FC’s plight in Parliament. On the floor of the Commons, I’ve twice raised the future of the Club in a question to the relevant Secretary of State, and made clear that clubs like ours cannot wait for
solutions to come too late. I’ve met with the Sports Minister, Reading fan groups, and other MPs to discuss what we can collectively do to support the club’s future. I’ve also spoken to legal experts, written to the Chinese Embassy and to Dai Yongge himself,
all to ensure that we left no stone unturned.
Last week, I launched a petition in conjunction with Sell Before We Dai, calling for a parliamentary inquiry into what has happened at Reading, so that other clubs don’t suffer the same fate. This petition quickly gathered over 10,000 signatures. I’ll present
it in Parliament in the coming week.
I would like to acknowledge the different groups such as Sell Before We Dai, STAR, the staff at Reading FC, the EFL and Reading fans; their patience, tolerance, organisation and determination to make their voices heard over the last few years has been admirable.
I hope that the Club has better days ahead once again, both on and off the pitch.
