Reading Football Club has confirmed that it has committed a ‘letter of intent’ with a potential purchaser of the club.
The Royals takeover saga has dragged on for more than 500 days, but finally looks as if it may be coming to an end.
An unnamed party has now entered a period of exclusivity to ‘complete final due diligence and legally complete the transaction,
A statement from the club says: “Reading Football Club can confirm it has committed to a letter of intent with a potential purchaser of the club.
“The parties will now enter a period of exclusivity to complete final due diligence and legally complete the transaction. Whilst timelines cannot be guaranteed, the structure of the deal should allow for a quick completion, which would be for the benefit of all concerned.
“Whilst we understand our supporters’ wish to know the purchaser’s identity, at this stage, confidentiality is preferred to complete at the earliest opportunity.
“The club can confirm the agreed sale includes the transfer of Mr Dai’s shareholding in The Reading Football Club Limited, as well as the Select Car Leasing Stadium and Bearwood Park Training Facility.
“Further updates will be communicated once appropriate.”
