Howe reiterated that the original bidders will resume negotiations for a takeover of Bearwood Park training field, as the deal has been canceled.
With seven games left in the season, Reading is now seven points ahead of the relegation zone in League One, sitting in 18th place.
Good news for supporters: Howe wants to move quickly to take over, which will speed Yongge’s exit and put an end to the uncertainty.
Regarding the prospective sale of Reading, Nigel Howe has given an update.
Amidst the controversy surrounding Dai Yongge’s ownership, the former CEO of the club is attempting to mediate a settlement.
Because of the severe financial position he has supervised at the Berkshire business, Yongge is not well-liked by the supporters.
The team has experienced many point deductions in recent seasons and was demoted to League One in the last year.
The Royals have already lost six points this season as a result of breaking financial regulations, and they might be demoted to the fourth division.
reading the most recent FC takeover
Howe has made it clear that there will be no progress on the possible sale of the team’s training facility at Bearwood Park.
According to him, this enables Reading to resume talks about a prospective takeover with the former buyers.
According to Howe, via the BBC, “Well, clearly the situation over the training ground is now over.”
“I believe it’s obvious that it’s probably not going to happen, so we can go back to where we were before that and continue working with the first set of purchasers.
Additionally, when I refer to a “group,” I mean many individual purchasers who have shown interest in moving forward with signing a letter of intent.
which then allows us to move forward to an understanding of how their funds work, and then that allows us to go to the league and get their say-so that these people will be able to perform.
“You then go into an eight week process.
“It’s a tortuous route, but at least again we’ve taken out the things that could’ve gone wrong previously, with some of the people that have come along and said they’ve got money but haven’t had money.
