Reading FC may be close to new ownership, according to senior staff at the club
It appears like Reading FC is drawing to a close its hunt for a new owner after a turbulent season that has spurred a parliamentary discussion over the future of English football. The club’s chief of operations, Mark Bowen, thanked both employees and supporters in a statement for their dedication to the team despite multiple point deductions brought on by financial difficulties.
Due to late payments to employees, the Royals have already lost 16 points in less than two years, including over six points this year. Should an ongoing disciplinary panel rule that late payments to HMRC are the cause of the delays, the team may lose even more points.
The club’s woes have sparked a campaign to pressure current owner Dai Yongge into handing over control to a new owner. Now, an ‘encouraging’ amount of interest has been shown in taking on the club, according to Mr. Bowen.
He said: “We are in constant discussion, negotiation, and engagement with an encouraging number of individuals who we believe are all capable of making viable takeover bids.
“The nature of these negotiations, the structure of these potential bids, and the identity of these individuals plainly have to remain private for legal reasons and for the benefit of the successful sale of the club. It is also very difficult to speculate on the timescales involved, but I am very positive that this process is now nearing a much-needed conclusion.”
The club’s ownership question has galvanized a wider debate about English football clubs and the people who own them, with Reading East MP Matt Rodda this week bringing a debate on the issue to parliament.
The MP has called for the club to be the pilot case for a proposed new independent football regulator.
Speaking in the House of Commons, Mr. Rodda said: “To put it clearly and simply, as loyal fans did on the march last week, we want our reading back. The story of what is happening to our wonderful club is quite simply heartbreaking. It is terrible, and I could use much less parliamentary language—as was occasionally heard as we marched down the A33.”
“The situation we face stands in stark contrast to the history and traditions of our great club.”
The government has pledged to introduce a football governance bill to create a new regulator, involving fans and creating new tests for both potential owners and directors. Fans will also be given the power to veto changes to badges, home shirt colors, and club names.
But government minister Sir John Whittingdale said it was not possible to commit to a pilot.
He declared: “I completely acknowledge the Reading football club’s predicament, as the honorable gentleman detailed, and I comprehend his desire for action to be taken as quickly as feasible. I regret that I am unable to commit to a pilot at this time, but I can assure him that Reading FC’s and other clubs’ experiences will continue to guide the creation of policies and choices about the structure of the regulator.”
The English Football League has referred Mr. Yongge Dai’s case to an independent disciplinary commission due to alleged misconduct.
It is anticipated that the commission will rule in the next eight weeks.
Leave a Reply