We take a look at some of the latest takeover news at the Select Car Leasing Stadium.
They are currently eight points outside of safety in League One and at the bottom of the table on the field, and their season-long deductions haven’t exactly helped their cause.
They are heavy favorites to drop to League Two, and it’s not just because of how well they play.
After being charged by the EFL for persistently failing to pay money owed to HMRC, the Royals run the risk of losing further points.
And since a buyout proposal hasn’t been finalized, it appears that the club will soon find itself in administration.
me of the latest takeover news at the Select Car Leasing Stadium.
It’s clear that owner Dai Yongge needs to sell the third-tier side sooner rather than later and with this in mind, we take a look at the latest takeover news involving the Berkshire side.
What did William Storey say after pulling out of Reading FC bid?
On Wednesday morning, former potential owner Storey took to X and revealed that his group had pulled out of the race to buy the Royals.
He posted: “After signing a contract & exclusivity in Oct[ober] we entered a period of due diligence.
“Our accountants have reported. My investors & I have decided not to proceed.
“I wish the club & loyal fans the very best & hope they get an owner who will invest for long term success.”
It had previously been reported by The Telegraph that the Rich Energy CEO had agreed a £50m deal to purchase the club, but that didn’t turn out to be the case.
Journalist makes William Storey revelation
According to James Earnshaw, a journalist for the Reading Chronicle, some of Storey’s tweet is false.
According to him, the businessman never signed anything and was never granted a window of exclusivity to close a deal.
In addition, it is asserted that Storey never provided the club with proof of finances or disclosed the identities of his donors.
If this is true, Storey never seemed to be a real contender in this auction, and you have to hope that the Royals didn’t have to spend too much time on his unsuccessful bid.
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