New twist in Reading FC takeover situation emerges as 22nd April deadline looms | OneFootball

Reading FC have released a statement providing a fresh update on the takeover situation

Reading FC have released an update on the takeover situation at the club amid the 22 April deadline to remove Dai Yongge’s ownership stake.

The Royals have confirmed that the period of exclusivity that had been entered with a prospective buyer, believed to be Robert Platek, has now expired.

However, the League One club are still optimistic of hitting the deadline to complete a takeover, with an unnamed alternative bidder now at an advanced stage.

It is possible that Rob Couhig could now step up to purchase Reading after being previously involved in talks with Yongge in recent weeks in order to find a solution to his securities paid from his prior bid to buy the club, although it is unconfirmed if he is the alternative bidder.

Reading issue takeover update

Reading have released a statement on the situation confirming the expiration of their period of exclusivity with their most recent bidder.

However, the club have made it clear they are working towards a solution to meet the EFL’s requirements after Yongge was disqualified from the owners’ and directors’ test in March.

“Since the last statement dated 27th March, the exclusivity period with the prospective buyer has now expired, and club representatives are now in advanced dialogue with an alternative bidder,” wrote the club, via their official website.

“Negotiations between the parties are proceeding in a professional and positive manner, with full recognition from all concerned of the need to bring a sale of the club to a conclusion for all stakeholders, including players, staff and supporters.

“Following a request from the club, last week the EFL extended the time allowed for Mr Dai to divest his interests in the club until 22 April.

“The parties are working to complete negotiations at the earliest opportunity and expect to meet the EFL’s requirements.

“In the interim, the club has taken steps to ensure that the ongoing financial obligations, including taxes and payroll, will be met in full.

“As matters progress, the club will issue additional information accordingly.”

Reading moved into the play-off places in the League One table on Tuesday night with a 3-1 win against Shrewsbury Town, with just five games remaining.

Potentially one step backwards to go two steps forward

There is no telling what will happen next in the Reading saga because it has taken so many twists and turns.

But this might be a necessary step backwards in order to find a solution to the conundrum caused by Couhig’s role in this process.

It’s possible the ex-Wycombe Wanderers owner might yet end up buying Reading from all of this, but it’s still too early to know for certain.