Owner Dai Yongge has been attempting to sell the club since September 2023 following a series of points deductions in recent seasons. Now, Reading has entered a period of exclusivity with a potential buyer. Meanwhile, supporters have staged multiple protests against the Chinese businessman’s ownership.

Will the deal bring benefits for all?

The protests included a petition from the supporters’ group Sell Before We Dai, which garnered 8,400 signatures. The petition called for MPs to launch an investigation into the club's ownership in recent seasons. However, the Royals have now entered an exclusivity period with an interested party ahead of a potential takeover.

In November 2024, The Athletic reported that Yongge had previously agreed to sell the club for £30 million to American lawyer Rob Couhig. Reading Football Club confirmed that it has committed to signing a letter of intent with a potential buyer. The parties have entered an exclusivity period to allow for final due diligence and the legal completion of the transaction. While no exact timeline can be guaranteed, the structure of the deal should allow for a quick resolution, benefiting all parties involved.

Despite the supporters’ desire to know the buyer’s identity, confidentiality is preferred at this stage to ensure the transaction is completed as quickly as possible. The club also confirmed that the agreed sale includes the transfer of Mr. Dai’s shareholding in Reading Football Club Limited, as well as the Select Car Leasing Stadium and Bearwood Park Training Facility.

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A rapid decline through the league hierarchy

Yongge initially purchased a 75% stake in Reading in 2017 before taking full ownership of the club. Since then, the Royals have faced off-field difficulties, including breaches of EFL Financial Fair Play rules and unpaid taxes, leading to points deductions and a winding-up petition from HMRC.

After an initial six-point deduction in the 2021/22 season, the club was relegated from the Championship the following season after the same penalty was applied to their points tally. Reading was also hit with further point deductions in League One last season, totaling six points, finishing in 17th place in the third tier.

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A stadium with one season at the top of English football

The Select Car Leasing Stadium, also known as Madejski Stadium, was opened in 1998 and has a capacity of 24,161 spectators. The facility was built after the previous Elm Park stadium was deemed unsuitable for expansion. The project cost over £50 million, resulting in a stadium with stands surrounding the pitch on all sides. Three of the stands have a single level, while the main (western) stand is split into two tiers. Between them are boxes, and outside, the stadium is connected to the Millennium Madejski Hotel.

The stadium’s name comes from Sir John Madejski, the former chairman of Reading FC. Although it also hosts the rugby team London Irish, the needs of RFC take priority. When the club played its only Premier League season (2006/07), the stadium was too small. Permission was quickly granted to expand the capacity to 36,900 seats, but relegation reduced the demand for tickets, and plans were eventually put on hold.