Reading FC takeover updates: Rob Couhig, Dai Yongge dispute, EFL deadline, Robert Platek interest | OneFootball

Reading have been up for sale for over 500 days - but there have been major updates in recent weeks

Reading FC’s perilous situation is constantly changing as potential purchasers remain locked in talks with current owner Dai Yongge, meaning it can be difficult to track where the club’s future is heading.

The club had been handed a deadline of April 5 to be sold by after Yongge’s disqualification as an owner in February, but the Royals have been granted an extension with hopes that a sale is not far off the horizon.

However, with such a complicated scenario there are plenty of moving parts, all of which have seen updates in recent weeks.

EFL grant extension to deadline for Dai Yongge to sell Reading

Despite off-the-pitch uncertainty Noel Hunt’s men are giving Reading fans something to cheer about, with the Royals battling for a play-off finish in League One as we head into the final stages of the season.

However, Reading fans’ focus remains on the club’s long-term future, which remains in jeopardy following the disqualification of Dai Yongge as being owner of the club.

After confirming that Yongge had been disqualified, Reading were given until April 5 to be sold to a new owner, only for an extension to be granted two days before the deadline.

On Thursday, April 4, the EFL released a statement that the club had a new deadline of April 22 for Yongge to divest his shares and cease being involved with Reading.

In that same statement, the EFL reiterated that they had the power to suspend Reading, preventing them from fulfilling their league fixtures.

The relevant part of the statement read: “The League has the power to suspend a Club if a Director fails to comply with the requirements of their disqualification.

“The terms of any suspension would be at the discretion of the Board, and while suspended Clubs are not permitted to fulfil League matches, they would continue to be a member of the League at that point.”

Robert Platek’s interest as talks continue with Dai Yongge

Reading have been granted an extension partly based on the fact that Yongge remains in talks with Robert Platek, who was granted a period of exclusivity in February.

Part of the delay in Platek’s potential takeover is down to the fact the American businessman is the co-head of BDT & MSD Partners, and investment company that has loaned money to a handful of EFL clubs.

This could potentially represent a conflict of interest, with the EFL stressing that it must be made clear that Platek has no other financial interests in other clubs in England.

Platek does own Portuguese club Casa Pia, but has stated that his investment in Reading would be personal, and unrelated to his work with BDT & MSD Partners.

Complications caused by Rob Couhig’s security on Reading’s stadium and training ground

Platek is the fifth potential buyer in the last 12 months, with one of previous interested parties causing another hold up.

Former Wycombe Wanderers owner Rob Couhig was interested in buying the Royals, pumping in money via a £5million loan to help running costs.

Couhig’s investment was not entirely altruistic, as the businessman made sure to receive security on Reading’s ground and training facilities.

That has provided a hitch to Platek’s purchase, with Couhig rejecting Yongge’s proposal to lift his security on Reading’s assets.

But there are further complications with Couhig’s continued interest in the club.

Reading are currently being sued by Couhig for loss of opportunity after Yongge pulled out of talks with the former Wycombe chairman last year.

Despite the prickly situation, Couhig is still interested in buying Reading with the £25million agreement he struck with Yongge last year.

However, Couhig says he will not stand in the way of the club being sold to Platek – if an agreement can be reached in terms of the stadium and training ground.

Clearly the EFL believe an agreement between the three parties can be found, otherwise they would not have extended the deadline for Yongge to divest his shares.