The long-running Reading FC takeover saga has taken another major turn, as the club released a fresh update on its ownership situation this morning.
In a new official statement, Reading Football Club confirmed that their exclusivity agreement with American investor Robert Platek has now expired. Platek had been in advanced discussions to acquire the League One side, but no deal was finalized during the exclusive negotiation window.
Reading FC in Advanced Talks with New Potential Buyer
The club also revealed that it is now in "advanced dialogue with an alternative bidder," widely believed to be Rob Couhig, the former Wycombe Wanderers chairman. Couhig had previously attempted to purchase Reading FC last year, but negotiations collapsed in the final stages.
Official Statement from Reading Football Club
“Reading Football Club would like to provide a further update on the ongoing sale process. Since the last statement dated March 27, the exclusivity period with the prospective buyer has now expired, and club representatives are now in advanced dialogue with an alternative bidder.”
“Negotiations between the parties are proceeding in a professional and positive manner, with full recognition from all concerned of the need to bring a sale of the club to a conclusion for all stakeholders, including players, staff, and supporters.”
EFL Extends Deadline for Dai Yongge to Sell Reading FC
The club also confirmed that the English Football League (EFL) has granted an extension for current owner Dai Yongge to divest his ownership stakes, with a new deadline set for April 22. This extension provides a small window of opportunity for the takeover process to be completed without further sanctions.
Reading FC assured fans and stakeholders that financial obligations, including taxes and payroll, are being met in full during this interim period.
“The parties are working to complete negotiations at the earliest opportunity and expect to meet the EFL’s requirements. As matters progress, the club will issue additional information accordingly,” the statement concluded.
As Reading Football Club fights for stability both on and off the pitch, fans will be keeping a close eye on developments over the coming weeks. With financial pressures mounting and the EFL watching closely, a successful sale could be pivotal to the club’s long-term future, especially as they are fighting for a play off place.
