READING FC has confirmed in a club statement that they are seeking investment to provide ‘significant financial support’ to the business.
The Royals have been hit with numerous punishments across the past few years including transfer embargoes and points deductions for their financial mismanagement.
The club has stated that current owner Dai Yongge remains ‘fully committed’ to the club despite looking for extra financial support.
The statement reads: “Our owner Mr Dai Yongge remains fully committed to the club and both he and Chief Executive Dayong Pang have been extremely active in recent weeks in trying to establish a sustainable source of financial backing for the football club going forward.”
The club is currently under a strict transfer embargo from the EFL for the latest missed payment to HMRC, but has confirmed that owner Dai Yongge is personally resolving the issue in the coming days.
The statement continues: “The day-to-day processes at both Bearwood Park and the Select Car Leasing Stadium remain challenging though, so Mr Dai and Dayong Pang are striving to secure external investment which will offer substantial assistance to the operations of the club in its immediate future.
“Details relating to investment in Reading Football Club will remain confidential and non-disclosure agreements will be in place while due diligence processes are in progress.
“There will be no further comment from anyone at Reading Football Club on this matter at present. When further developments arise, we will endeavour to communicate openly and honestly to our supporters.
“We sincerely appreciate our fans’ patience and ongoing support throughout our recent challenges. The new football season begins at home against Peterborough United on Saturday 5 August and we trust that the manager, his staff and the players can count on your support from the stands as we look to get our League One campaign off to a winning start on home soil.”
