Reading’s nightmare nearly over as club issue much-needed takeover update

Reading’s nightmare is very nearly over as the club issue an update on the much-needed takeover to save them from the brink.

The Royals appear to be nearing a resolution, confirming on Tuesday evening that terms have been agreed for a sale between current owner Dai Yongge and an undisclosed buyer.

The deal, which includes the Select Car Leasing Stadium and Bearwood Park Training Facility, has been granted an extension by the EFL until May 5th 2025, another 13 days to finalise.

It’s second extension granted by the EFL, following the disqualification of current owner Dai Yongge under its Owners’ and Directors’ Test.

This follows Yongge’s disqualification under the EFL’s Owners’ and Directors’ Test, with the league setting multiple deadlines—initially April 4th, then April 22nd for him to divest his shares or face potential club suspension.

The buyer is reportedly supporting the club’s immediate financial obligations, ensuring day-to-day operations continue unaffected.

While former Wycombe Wanderers owner Rob Couhig has been linked to the deal, no official confirmation of his involvement has been made.

This progress marks the furthest advancement since Couhig’s near-takeover in August 2024, offering hope to fans amidst Reading’s remarkable performance on the pitch, currently sitting 7th in League One, level on points with Leyton Orient for the final play-off place.

Club Statement

— Reading FC (@ReadingFC) April 22, 2025

CLUB STATEMENT:

Reading Football Club can confirm further progress has been made towards the sale of the club, with the transaction including the Select Car Leasing Stadium and Bearwood Park Training Facility. As a result, The EFL has agreed for a further extension until May 5th for the transaction to be completed.

The terms of the deal have been agreed between the club’s current owner Mr Dai and the buyer, whose identity must remain confidential at this stage. Both parties will now work to complete the necessary steps to complete the takeover.

The buying party will be supporting the club’s immediate financial obligations until the transaction is complete, and as such, day-to-day running of the club will be unaffected.

The club would like to thank all supporters, staff, and players for their contribution to the club in recent times. The performance at First Team and Academy level has been outstanding and all attention is on supporting the teams to finish the season strongly.

Further communication regarding next steps will be issued once appropriate.

EFL STATEMENT:

Earlier today, the EFL Board granted a further extension until Monday 5 May for Mr Dai Yongge to divest his interests in Reading FC, subject to compliance with all other EFL Regulations.

Since our last update on 3 April, further progress has been made in respect of the proposed sale of the Club. As a result, the Board deemed it appropriate to agree to the Club’s request to allow more time for matters to be concluded in accordance with EFL Regulations.

As stated previously the League continues to monitor the Club’s immediate cash flow requirements.

“We’ve got no choice but to be optimistic”

Gregg Double speaks about Reading’s search for a new owner pic.twitter.com/0oRVoisf27

— Sky Sports Football (@SkyFootball) April 22, 2025

🚨 Reading FC takeover

– Club ‘agrees terms’ of takeover with buyer (Couhig)
– EFL grants extension of deadline until May 5 #ReadingFC

— Andy Preston (@AndyPreston96) April 22, 2025

WHAT ‘SELL BEFORE WE DAI’ HAD TO SAY:

Sell Before We Dai responds to (another) EFL extension …

Becky Trotman, Sell Before We Dai spokesperson, said: “We are encouraged that the club has made enough progress with the sale to warrant an extension and are grateful to the EFL for providing one.

“We were also particularly relieved that potential and confidential buyer Rob Couhig is now providing funds to secure the club’s short-term future.

“However, we have been here before and the EFL’s extended deadline date (5th May) is very clearly timed to land at the end of the season, but before any potential playoff fixtures.

“There are only so many extensions the EFL will grant, so the onus is now on Dai Yongge, Dai Xiu Li, Dayong Pang, Rob Couhig and all other parties involved to get this deal done before that deadline.

“We can accept missing out on the playoffs due to Leyton Orient’s ridiculous form, but it would be beyond cruel to miss out because Yongge and Pang stayed true to theirs.

“The last negotiations ended in court cases, these negotiations must end in a brighter future for Reading
Football Club, or even Wembley.”

This is how Twitter users reacted with Reading’s nightmare nearly over as the club issue a much-needed takeover update…

@Basingstoke_FC:
Nearly there Reading fans!
Keep fighting the good fight.

@millyjbcfcx: As a blues fan I understand the relief of this news, we had dodgy owners that the EFL should have noticed but we have amazing owners now & the future is bright so I hope you can get the same thing!!

@BCFC_Chapz: I think the fact your pushing top 6 with all this going on is the biggest achievement out of anyone in the 92 this season. Absolutely sensational. Lots would have given up and just let it sink… your players / fans have done the opposite. Good times can hopefully be ahead for u

@thestar_themoon: GOOD NEWS, get it done Reading, from a Pompey Fan

@joe99231660: Great news… also may the best team get that final playoff spot, from a orient fan!

@simcjs: I so hope you get this sorted, we were close to administration same as Derby and Notts County, so know how you feel. Fingers crossed

@petef1uk: Great news, glad to hear this, from your next door neighbours Wycombe 👑🤝🪑

@pvfcalfie027: That’s great news hopefully you lot can get it over the line and get promoted Up the ding

@KPVFC10: Class news, let’s hope for better times now!

@F8RDR: Hurry up @RCouhig – let’s get it over the line.

@Robbeezley: Don’t mind you lot at all! Best of luck with the takeover! Lincoln fan!

@horballs: Great news from a Barnsley fan. I know our owners are ruining us but your situation is much more critical and I hope this is a great step closer for you guys. Hope you get that playoff spot as you have been fantastic with a great manager regardless of the situation.

@deanocx: Almost fucking there, play-offs and new owner and let’s get on with our lives. Hopefully next season we can get back to complaining about the team-sheet rather than worrying about our club existing. ROYALS

@paulc1884: As a Derby fan, I really hope this is finally going to happen!! 🙏

@Jord_M_66: Good for yous, hope you remain in business and that your club is safe. Let the best team win the last play off place. From an Orient fan 💙 #LOFC #READINGFC

@s6_swfc: Hope everything goes through and you get a owner that you fans deserve. All the best from a swfc fan. 👍🏻

@Garicko7: From an Orient fan, we know all too well what scumbag owners can do to a club. Promotion race put to one side for a minute, this is good news. About time the EFL actually did something about this happening. I won’t hold my breath though.

Really hope for the @ReadingFC fans and my old home town that this is finally it. A new chapter and finally the end of the ruinous Dai Wronggen. 🙏🤞 https://t.co/WevAS22NGC

— Simon Thomas (@SimonThomasTV) April 23, 2025