Update on the Reading FC takeover: Genevra’s position, Ruben Selles’ revelation, and other interested parties
Recent developments on the takeover rumors in Reading
In order to prevent another relegation and bring about positive changes, Reading fans are desperate for development and information about potential new owners.
Ruben Selles has talked with prospective buyers and is optimistic that the club’s off-field problems will be resolved shortly.
There are several companies interested in purchasing Reading, but it is unclear who will be successful and when a decision will be made.
As the Royals teeter on another relegation, Reading supporters are keen to hear about any progress and prospective new owners.
The Royals appear to be in for yet another lengthy campaign, and their supporters will be hopeful that they can avoid suffering their second consecutive relegation and slipping into Sky Bet League Two.
Perhaps more vital, though, is that the club’s off-field problems are resolved as soon as possible. Supporters are expecting that a new leadership structure will be in place to enable some advancement in all areas.
The persistent ownership disputes that have affected their summer operations are what led to Ruben Selles’ tenure’s rocky beginning.
The hope is that the arrival of a new owner can turn the tide for the Royals.
What are the latest updates on the matter, then? We take a look now…
Ruben Selles meets potential new owners
Selles certainly has his work cut out trying to get the club on an even keel on the pitch with everything going on.
He will be just as keen as the fans for the situation to be resolved in the near future, and he has revealed he has met some of the potential new owners looking at the club.
He reportedly stated as follows to the Reading Chronicle: “I have seen several of the potential buyers over the past few weeks and have described what we do on the pitch. I’m aware that the procedure is still in progress. I can’t really contribute anything to it.
most recent Genevra Associates
There were rumors that Dai Yongge, the company’s owner, had turned down a buyout offer from Genevra Associates, a Luxembourg-based investment firm, earlier this month.
Following the revelation, they reiterated their desire to complete the acquisition of Reading in a statement provided to The Telegraph.
“Given the pressing situation at the club, we worked quickly to put this proposition together.
“Our main goal is to ensure the club’s sustainability, empower the fanbase, and address the point reduction situation. At this time, we’re unable to provide specific details about the offer. We stand by our offer.”
Multiple parties interested
The outcome of the bid to purchase Reading is still up in the air, as is the length of time Yongge’s patience before accepting a proposal that he deems acceptable.
It’s a delicate act of patience right now, as Reading supporters both want him gone and the best replacement.
But according to The Telegraph and other media reports, a number of companies are still interested in the club, so maybe a solution is not too far away.
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