What Dai Yongge first said when he sealed Reading FC takeover - It's been a rollercoaster since | OneFootball

Dai Yongge's broken promises leave the Royals fighting for survival after eight turbulent years.

In May 2017, Dai Yongge and his sister Dai Xiu Li were announced as the new majority shareholders of Reading Football Club, acquiring a 75% stake from its Thai owners.

The takeover came at a pivotal moment for the Royals, who were preparing for a Championship Play-Off Final against Huddersfield Town with the coveted prize of Premier League promotion at stake.

As Reading stood just one win away from a return to the top flight, supporters cautiously welcomed the Chinese billionaires with their promises of substantial investment and ambitious plans for the club's infrastructure.

The tone then was one of cautious optimism.

Dai Yongge's initial vision for Reading FC's future

In a club statement, the Dai family described themselves as "extremely excited about the future of Reading Football Club," pledging support to manager Jaap Stam ahead of the Championship Play-Off Final and promising financial and infrastructural investment.

Dai himself declared, “One of my first priorities will be to visit the development site for the new training ground and we also intend to revisit stadium extension plans with the vision of creating world-class facilities at the club.”

Eight years on, those ambitions lie in stark contrast to the current reality.

Since Dai’s arrival, Reading have suffered a dramatic fall from grace. From being on the brink of promotion to the Premier League in 2017, the club has plunged to the third tier for the first time in over two decades.

Along the way, it has racked up a series of points deductions, faced a winding-up petition over unpaid taxes, and endured prolonged instability off the pitch.

What was once billed as a promising new era for the Royals has become a cautionary tale in modern football ownership. While Dai has undeniably invested heavily - over £200 million by some estimates - the stewardship has drawn sharp criticism.

Supporters, once encouraged to dream of a brighter future, have formed the 'Sell Before We Dai' campaign, demanding a change in ownership. They point not only to financial mismanagement but also to a growing disconnect between club and community.

The EFL has now formally disqualified Dai Yongge under the Owners' and Directors' Test, initially setting a deadline of April 5, 2024, for him to sell the club, which has since been extended to April 22. This extension gives Yongge just under two weeks to complete a sale and avoid potential suspension of the club by the EFL.

American businessman Rob Couhig, who previously attempted to purchase the club and was the subject of a failed injunction by Yongge in court last month, has publicly stated he remains interested in acquiring the Royals.

It is a stark and painful departure from the hopeful rhetoric of 2017. Dai Yongge once envisioned world-class facilities and Premier League football; today, Reading clings to its future under League One constraints, navigating the wreckage of broken promises.

What began with fanfare has become a desperate bid for survival.