Barnsley's League One rivals Reading edge closer to takeover as buyer update issued

The Royals have been in crisis under the ownership of Dai Yongge, with financial issues and points deductions only making on-field struggles worse for long-suffering supporters.

However, a glimmer of hope has emerged with the announcement that Yongge has committed to a letter of intent with a potential buyer. A period of exclusive negotiation will now be entered to finalise terms on a sale.

This is expected to take up to two months, according to an official statement issued via the Reading website. The statement read: “The club can confirm Mr Dai has committed to a letter of intent with a potential purchaser of Reading Football Club.

“The parties will now enter a period of exclusive negotiation to agree the final terms. The completion is expected to take up to two months, at which time the purchaser will be announced.

Sign up to our new Sports Editor’s TeamTalk newsletter

“The transaction would include the transfer of Mr Dai’s shareholding in The Reading Football Club Limited, as well as the Select Car Leasing Stadium and Bearwood Park training ground. The club will communicate with further updates when appropriate.”

The involvement of Reading’s training ground in the potential deal carries significance, as the club had been in talks with Wycombe Wanderers about selling the facility. However, it now appears it could be retained if the proposed takeover does indeed go through.

Reading currently sit 18th in the League One table, although would occupy 15th place had they not been docked six points.