Reading FC takeover: Roger Smee update emerges as rescue package is mooted | OneFootball

Smee will only be able to get a deal over the line for the Royals on a key condition, which may not be an ideal outcome.

British businessman Roger Smee would only be able to complete a deal to take control of League One side Reading if they fell into administration.

This is according to an update from the Reading Chronicle, who clarified the situation after a story broke that Smee could potentially rescue the club.

City AM reported that Smee was considering the possibility of making a "last-ditch" attempt to save the Royals - and that the club is at "crisis point" in terms of its cash flow.

This caused a lot of concern on social media, with the Berkshire outfit already known to be in a fairly precarious financial position due to owner Dai Yongge's inability to fund the club properly, something that threatens to jeopardise the progress that the club is making on the pitch.

The ownership saga has been going on for more than a year, with numerous parties trying and failing to get a deal over the line for the League One outfit.

Genevra Associates were heavily linked with the Royals last year, but they were unable to get a deal over the line in the end.

The club then entered a period of exclusivity in March earlier this year with Chiron Sports Group, before Rob Couhig established himself as the front runner to take control of the club.

It looked inevitable that Couhig was going to get a deal over the line in August, with the American even turning up to games against Wigan Athletic and West Ham U21s at the Select Car Leasing Stadium.

But that £25m deal collapsed in the end and current owner Dai repaid Couhig the money he had loaned the club during the time he tried to purchase the club.

Now in a period of exclusivity with another set of potential buyers, it remains to be seen whether they can succeed where others have failed.

Roger Smee will only be able to complete Reading FC takeover on key condition

The Reading Chronicle have reported that Smee's interest in the club is genuine, but he would only be able to purchase the club from administration due to the current cost of the club.

The 76-year-old previously rescued the club from a potential merger with Oxford United back in the 1980s and went on to become chairman, before selling up to Sir John Madejski back in 1990.

It remains to be seen whether Smee is needed. At this stage, the Reading Chronicle are reporting that administration isn't a short-term threat, with the current party in exclusivity remaining in talks at this point.

Administration is likely to be a nightmare for Reading FC

Administration wouldn't be ideal for the players on the pitch, because that'll mean 12 points off their total.

It will also increase their chances of being relegated - and with the club not having a huge amount of squad depth - they won't want to be involved in a relegation scrap.

It would also be a nightmare off the pitch, because players would probably need to be sold to fund admin.

And this won't be a simple period of administration either, with different assets being owned by different companies.