Reading Football Club has released a new statement to update the fans on the ongoing takeover process, which has been rumbling on for well over a year.
The Royals are enjoying life on the field after Noel Hunt’s side earned back-to-back victories in League One to keep them in the top six, however off-field issues continue to plague the club.
The club has confirmed that they are still in negotiations with a prospective buyer and that short-term funding is the ‘priority’.
They also commented that there is ‘an ongoing litigation proceeding’ against Dai Yongge, which has been reported to be Rob Couhig, who attempted to buy the club earlier in the year.
The statement reads: “Negotiations with the prospective buyer remain ongoing, with the short-term funding of the club taking priority at this present time. Whilst the club understands our supporters’ desire for the identity of the purchaser to be confirmed, at this stage confidentiality must remain in place for the benefit of all parties.
“In the most recent update, the process of completing the sale had been described as ‘complicated and lengthy’. Since this point, one external factor which had caused delay has subsequently been resolved, with the ‘Stop Notice’ charge in place against the Select Car Leasing Stadium now removed. There is also an ongoing litigation proceeding from an outside party against Mr Dai. This matter is now in the hands of Mr Dai’s lawyers, and the club will make no further comment.
“As we reach the final stages of 2024, the club would like to put on record its thanks to a series of key stakeholders.
“To our Club Partners and Suppliers, thank you for consistently going above and beyond when working alongside the club.
“To our players, thank you for your relentless efforts towards putting the club in a position where we end 2024 in the Sky Bet League One Play-Off positions. “The togetherness and resilience shown throughout the year is a testament to you all and we are proud of the progression and passion we see on the pitch each week. This is replicated through the academy whereby 2024 has also seen success both on the pitch, and players progressing through to the first team.
“To the staff across the whole club, thank you for the countless hours and hard work dedicated towards ensuring the club can operates to its maximum ability both on matchdays and during the working week.
“To the fans, thank you for standing by your club during a difficult year. Your support at both the Select Car Leasing Stadium and across the country has been unwavering despite the obstacles faced.
“The ongoing commitment to the club is evident each week – and as we finish the calendar year with one of the strongest home records in the division, the part played by our supporters should not be underestimated.”
