Reading have been granted an extension until 22 April by the English Football League for their owner, Dai Yongge, to sell the club. Reading had been at risk of suspension if they failed to show adequate signs of progress.
Dai was disqualified under the league’s owners’ and directors’ test in February due to debts and court rulings in his native China but the troubled League One club were permitted an extension on the initial 28-day period in which Dai needed to divest his shares, until this Saturday. The EFL, whose board met at their monthly meeting on Thursday, has now given Dai more time to sell.
The EFL privately believes that Dai is more motivated than before to sell the club, which he acquired with his sister, Dai Xiu Li, in May 2017, a fortnight before Reading lost a Championship playoff final against Huddersfield.
The EFL is in regular dialogue with the club with regard to a sale. Last week the league also met the Reading supporters’ trust (Star) and local MPs regarding the situation.
The American businessmen Robert Platek, owner of the Portuguese club Casa Pia, and Rob Couhig, the former Wycombe owner, are believed to be interested in buying the club. Last week Reading said they had the “full intention of avoiding” a suspension, which would prevent them from playing matches.
An EFL statement released on Thursday reiterated its determination to progress a sale at the “earliest opportunity, in order to end the current uncertainty surrounding its future for its staff, supporters and wider community”.
It said: “The board recognised that these matters are further complicated by the structure of assets held across different companies, and various competing security interests, and therefore deemed it appropriate to allow more time for them to be resolved.”
Reading, who host Wycombe on Saturday, are seventh in the third tier after defeat at Blackpool on Tuesday but remain in the hunt for the playoffs. The club’s former striker Noel Hunt succeeded Rubén Sellés, who left for Hull City, as manager in December.
