BREAKING NEWS: Sell Before We responds to latest Reading FC takeover update….

Reading FC protest group Sell Before We Dai has responded after the club released noa statement yesterday updating fans on the latest news regarding the takeover.

 

The club said that exclusivity that was signed with an unnamed party in March has now expired, but they are still in ‘open dialogue’ with that party and also other interested parties.

 

Sell Before We Dai said: “Naturally, we are disappointed that the exclusivity period has ended without a sale.

 

“Being optimistic, we are relieved the club’s update states Dai Yongge remains committed to selling the club in its entirety and that interested parties – including the one granted exclusivity – remain in negotiations.

 

“Being less optimistic, this is a situation we have been in before. We are also seeing clubs around us being sold with apparently minimal fuss, which raises the most important question: why is Reading Football Club so hard to sell?

 

“The answer is that years of unsustainable ownership have left the club with eye-watering operational losses, meaning any new owner has to inject significant funds immediately just to keep the club afloat.

 

Related posts

‘Dialogue open with new bidders’: Reading FC release statement regarding ownership update

‘It didn’t end how I hoped’: Departing Reading FC defender sends message to fans

Reading FC to face Championship clubs in pre-season

‘All of us had the mentality’: Dave Kitson reminisces on Reading FC’s legendary 106 side

 

“Despite Reading’s obvious potential, there are not many owners willing or able to meet both the valuation of the club and its immediate running costs. For those that can, there are plenty of Championship clubs to choose from, as well as top-tier clubs in Europe.

 

“We know Dai Yongge wants to recoup as much of his losses as possible, but if he does not help fund the club, he won’t have a club to sell.

 

“Sell Before We Dai, STAR and Reading fans everywhere have shown we can and will rigorously block any attempt to strip the club of its assets, which leaves Dai Yongge with three options: Fund the club, sell the club, enter administration and lose the club for nothing.”

 

“To renege on his promise to fund the club during the sale period is both dishonourable and damaging to a deal.

 

“Firstly, it is a betrayal of hardworking staff who are working tirelessly to save the club. Their professional and emotional investment is being repaid with insecurity.

 

“They worry about being paid for the job they’re doing today, they worry whether their jobs will exist tomorrow. It is an appalling way to treat people.

 

“Secondly, failure to meet Reading’s obligations puts us at risk of more points deductions. Aside from being another betrayal, this time of our manager, players and fans who gave everything to the club last season, it also makes the club less attractive to buyers.

 

“The higher up the leagues we are, the more attractive we are. Surely Dai Yongge is fed up with scoring such spectacular own goals?

 

“Lastly, we are encouraged by the statement’s commitment to further communication, which has been sorely lacking throughout. We remind those involved that anxiety and speculation thrive in silence.

 

1. “Reading fans are not after full disclosure – we understand the need for discretion in transactions like this – but we do demand respect. Our supporters went above and beyond last season and there is a growing number of fans reluctant to go again while so much uncertainty remains. They deserve better.

 

“To assist the club with its communication efforts, we are happy to extend an open invite to Nigel Howe to appear on Elm Park Royals or The Tilehurst End podcast to explain the sale process in more detail.

 

“To our fans, we say keep the faith – it’s in everyone’s best interests to secure a deal. To any potential owners, we say ‘come and get us’ – there is a great club here ready to rise again with our loyal and passionate fanbase behind you.

 

“To our current owners, the message stays the same: pay the staff, pay the taxman, sell the club.”

 

Keep up to date by signing up for our daily newsletter