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Reading issue statement confirming period of exclusivity with an unnamed purchaser

Reading have this afternoon taken to issue a statement confirming a period of exclusivity with an unnamed purchaser.

James Earnshaw of Reading Chronicle said: “#readingfc have confirmed a period of exclusivity with an unnamed purchaser.

“This one just feels different…not getting carried away and I still don’t know who it is, but it’s certainly not something out there just to appease fans. It’s moving FAST #readingfc”

Andy Preston of Wokingham Today and Reading Today tweeted: “Important not go get too carried away given that we’ve been in this position before.

“But it’s so refreshing to have some optimism that this mess might finally be coming to an end 🤞🤞 #ReadingFC”

STATEMENT:

Reading Football Club can confirm it has committed to a letter of intent with a potential purchaser of the club.

The parties will now enter a period of exclusivity to complete final due diligence and legally complete the transaction.

Whilst timelines cannot be guaranteed, the structure of the deal should allow for a quick completion, which would be for the benefit of all concerned.

Whilst we understand our supporters’ wish to know the purchaser’s identity, at this stage, confidentiality is preferred to complete at the earliest opportunity.

The club can confirm the agreed sale includes the transfer of Mr Dai’s shareholding in The Reading Football Club Limited, as well as the Select Car Leasing Stadium and Bearwood Park Training Facility.

Further updates will be communicated once appropriate.

Here’s how fans reacted as Reading issue a statement confirming a period of exclusivity with an unnamed purchaser…

@RFCHunty: i’ll believe it when i see it

@bluewhitewall: Massive news but… we have been here before and it has failed. Let’s hope it’s done this time. This takes time so be patient. Also the timing of these updates come out whenever fans try to do something e.g. do an inquiry or previous major protest plans. 🤔🤷‍♂️ #ReadingFC

@CarlierJosh: #readingfc Here we go, hopes are up. Ready for them to come crashing down but at least it’s something. The statement said it could be a “Quick transaction” sounds interesting not sure what to make of it?

@adamReadingFC: “the structure of the deal should allow for a quick completion, which would be for the benefit of all concerned.” when have we ever worded a statement as such, very promising #readingfc

@Grahamfurnell89: Hopefully if we get this takeover complete, it will encourage more fans back to games for the final push. #readingfc

@deanocx: This simply has to be the one. Good to see we’re in exclusivity but no one is excited until the last signature. Please let this be it #readingfc

@BradSRay: That statement feels very different to previous, I can see this all being concluded very quickly, must of met Dais asking price with initial bid and if so let’s hope it’s someone with deep pockets likely. Did Tom Brady bring any mates Saturday ? @elonmusk maybe 🤣 #readingfc

@SJM1871: I really hope so. Imagine the feel good factor of a sale and the play off run in. Could be one hell of an end of season, wouldn’t want to be one of the sides above us if it does happen. The ding are coming! 🤞🏻

@_LukeUTD_: This is great news, fingers crossed that this one doesn’t fall through as well. Got to hope that we’re selling to someone trustworthy in the first time in years. Hope we find out who they are asap

@JoanneDrake17: 4th time lucky or is it 5th, really lost track now of all possible takeovers. I do feel slightly optimistic this time.

@JonoPierce1984: I think this will actually happen this time

@JR_1871: I really hope the confidentiality can be respected – I can’t think that anyone is worse than what we currently have. We should try and be patient. I don’t want any potential purchaser ‘scared’ off. Let’s hope this is the real deal. #readingfc

@dingjoseph1871: I can’t go through another one like the last. Please get it done

@uppading: We are so back (this will inevitably breakdown in a months time)

@Jamie_Hodder21: We can dream. We can hope but we will be optimistic. If this one doesn’t get over the line then I fear that’s the end. If this can get done in the next 8 weeks.. then hopefully we can move forward starting with contract extensions! #ReadingFC

@JRSRoyal1871: Please be 💯 percent genuine! 🙏🏻 I don’t know how much more hell the Reading fanbase can take or be put through. UTFD! #readingfc

@JackMalden: This feels hopeful, but also not forgotten how we’ve seen someone days away from completion having pictures at the training ground and stadium on a matchday… this time the pressure must continue until it’s signed! #readingfc

@ReadingBTL: Some suspicious timing on this after the press attention on last weekend’s petition. As always – it will be sold when it is sold. We have been further than this before to no success. #ReadingFC

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