Reading FC’s owner is facing objections about point reductions for financial violations, which will have an influence on his League One ranking.
Multiple possible ownership groups, including billionaire Daniel Loitz, move in amid the club’s dire financial situation.
German investor disputes accusations of a failed financial check and slams owner for putting team in turmoil despite prospective sale.
The Select Car Leasing Stadium has become the latest location for ownership sagas that have plagued the EFL for quite some time.
Reading’s owner, Dai Yongge, has faced many protests this season. This season, the team has received three distinct point reductions, totaling six points from their final tally for the 2023/24 League One campaign, for violations of several financial restrictions.
Over the previous three seasons, the Royals have had 18
The Royals have had 18 points deducted from them. The club’s survival in the football pyramid can only be attributed to Ruben Selles and his players.
According to The Athletic, rumors of employees having to wear coats in their offices because the club couldn’t afford heating, as well as players eating microwave meals and not being allowed to stay overnight at hotels before games, have worsened the issue.
In mid-January, the EFL directed Yongge to either properly support the team or sell his controlling stake to someone who could.
Many groups and individuals have been linked with taking over Reading’s ownership, including former Newcastle United owner Mike Ashley and Generva Associates, who are now believed to be back in the hunt after their £40 million deal for the club in November fell through, according to inews.
One of the most recent proposals came from German businessman Daniel Loitz. iNews believes his bid, made in January, was in the area of £28 million, but they were also told that he had been unable to present confirmation of money to the EFL.
Loitz already.
