The English Football League (EFL) has officially extended the deadline for
Reading FC owner Dai Yongge to complete the sale of the struggling League One club, in a bid to secure its long-term stability.
Yongge, who took over the Royals in 2017, has been under pressure to offload the club after a series of financial troubles, including points deductions and transfer embargoes. The EFL’s decision allows the Chinese businessman until April 22 to divest his interests in Reading FC, provided all other league regulations are met.
Yongge’s History with Hull City Resurfaces
This move comes nearly nine years after Yongge was involved in a failed attempt to buy Hull City from the Allam family. Back in 2016, Yongge and his consortium were on the brink of a £130 million takeover and were even seen attending the Tigers’ Premier League clash with Leicester City. However, the Premier League blocked the deal, reportedly due to concerns about one of the parties involved. Yongge later completed a deal to purchase Reading FC instead.
Despite heavy criticism over the EFL’s approval of Yongge’s acquisition of Reading, the league insists he passed all regulatory checks at the time. In a statement, the EFL clarified:
"The reason Mr Yongge did not proceed with a purchase at Hull City was related to the involvement of a separate individual. This individual was not involved in the subsequent purchase of Reading."
EFL Monitoring Ongoing Sale Discussions
As Reading continues to navigate severe off-field challenges, including financial instability and looming uncertainty around staff wages, the EFL is now actively monitoring the situation. The League stated:
"While Mr Yongge is yet to divest his interests, discussions for him to do so remain active and ongoing. The Board recognised these matters are further complicated by the structure of assets held across different companies and various competing security interests."
If Yongge fails to comply with the conditions of his disqualification, the EFL holds the authority to suspend Reading FC, which would bar the club from fulfilling league fixtures, although they would remain members of the EFL.
Ruben Selles and the On-Field Impact
Reading’s on-field manager, Ruben Selles, has had to manage through the financial chaos, including during transfer bans and uncertainty over funding. Despite these challenges, the Royals are still in contention for a spot in the League One play-offs under interim boss Noel Hunt.
What’s Next for Reading FC?
With time ticking and fans desperate for clarity, the future of Reading FC now hinges on a successful sale before the new deadline. The EFL has emphasized that their priority is to bring the club back to stability and end the prolonged uncertainty impacting players, staff, and supporters.
For now, all eyes remain on Dai Yongge and whether a resolution can be reached before April 22 — a date that could determine the fate of Reading FC.
