Reading fans will be hoping the saga of their club's ownership troubles is coming near to an end with news of owner Dai Yongge closing in on a sale of his stake.
The Royals have been in dire financial straits for some time with the club having three separate points penalties this season. The first was a one-point penalty in August that came from failure to pay players last season. Then in September, there was a further three-point deduction due to another failure to pay wages.
Most recently, Reading received a two-point penalty for late payments made to HMRC to make it a total of six points deducted this season.
But there may be light at the end of the tunnel for Reading with the latest news that could see the end of Dai Yongge's troubled ownership.
"The Club can confirm Mr Dai has committed to a letter of intent with a potential purchaser of Reading Football Club," said a statement on the Reading FC website.
"The parties will now enter a period of exclusive negotiation to agree the final terms. The completion is expected to take up to two months, at which time the purchaser will be announced.
"The transaction would include 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 ground.
"The club will communicate with further updates when appropriate."
Club Statement | The Club can confirm Mr Dai has committed to a letter of intent with a potential purchaser of Reading Football Club.
— Reading FC (@ReadingFC) March 26, 2024
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