EFL Suspends Reading Owner and Warns of Additional Measures If Club Isn’t Sold

Reading’s Chinese proprietor, Dai Yongge, has been instructed to sell the club, currently competing in the third tier, following his disqualification under the English Football League’s (EFL) owners’ and directors’ test, as announced by the EFL on Friday.

According to the BBC, Yongge has until April 4 to divest his interests in Reading.

“Mr Yongge’s disqualification necessitates that he relinquish his stake in the Club,” the EFL confirmed in a statement.

“Should he fail to comply within the specified timeframe, the League will explore all regulatory options to resolve the matter.”

“The League is committed to collaborating closely with Reading FC to facilitate a sale of the Club as swiftly as possible, aiming to eliminate the ongoing uncertainty surrounding the future of the Club for its employees, fans, and the greater community.”

The club has acknowledged the EFL’s ruling.

“Mr Dai is committed to cooperating with the EFL to ensure the sale of the Club and safeguard its long-term future,” stated Reading.

Since taking ownership of Reading in 2017, Yongge has faced criticism from supporters, particularly following the club’s recent six-point deduction last season due to financial mismanagement. Additionally, they withdrew from the Women’s Championship citing financial difficulties.

Last month, the club indicated they were in discussions with a prospective buyer, having entered a period of exclusivity to finalise the deal.

Following a decade in the second-tier Championship, Reading was relegated in 2023 and currently sits eighth in League One after completing 37 of 46 matches.