Fresh Dai Yongge claim emerges against Reading FC takeover backdrop

April 30, 2025 Imoter Imoter Uncategorized 0

Fresh Dai Yongge claim emerges against Reading FC takeover backdrop

According to The Times, Yongge was informed prior to buying Reading that he would not be allowed to own them if they made it to the top tier, and he had previously been prevented from owning Hull City while they were in the Premier League.

Although Yongge was approved to purchase the Royals for £24.5 million in May 2017 after his unsuccessful effort to acquire the Tigers, the Berkshire team has had a terrible few years under his management.

Among many other problems during Yongge’s terrible tenure, Reading was relegated to League One and lost a total of 18 points. He was given an extension until May 5th to sell the team, failing which they risked a league suspension after the EFL disqualified him earlier this year.

Although it is unclear if a deal will be finalized by next week’s deadline, the Royals are reportedly in advanced talks with former Wycombe Wanderers owner Rob Couhig over a possible takeover after his previous attempt to purchase the club fell through at the last minute in September. In addition to the sale deadline, Reading on the field is having a big week, and Noel Hunt’s team could sneak into the play-off spots if they improve Leyton Orient’s performance at Huddersfield when they host Barnsley on Saturday.

League One table (as it stands 29th April)
Team P GD Pts
1 Birmingham City (C) 44 50 105
2 Wrexham (P) 45 31 89
3 Stockport County 45 28 84
4 Wycombe Wanderers 45 27 84
5 Charlton Athletic 45 22 82
6 Leyton Orient 45 21 75
7 Reading 45 13 75
8 Bolton Wanderers 45 -3 67

After Yongge’s consortium was denied permission by the Premier League to acquire Hull, he established a new company to buy Reading, which the EFL approved in 2017.

Even though Yongge had been accepted by the EFL, the Premier League is believed to have “made it clear” to him that if the Royals were to achieve promotion to the top flight, he would “need to divest himself of any controlling interest” in the club. The Times has now revealed that the Premier League advised the EFL against the move on the basis that Yongge had not shown good faith in his application to buy Hull.”

However, those warnings were disregarded because “the EFL’s legal advice was that it would not disqualify him from buying Reading under its rules at the time,” and they were reassured that he had “proof of source and sufficiency of funding.”

Two of Yongge’s former teams, Beijing Renhe in China and KSV Roeselare in Belgium, have been dissolved since he took over Reading. Although those instances would have disqualified him under EFL regulations today, they would not have at the time.

As concerns about how Yongge was allowed to purchase the Royals grew, the EFL recently emphasized that the Premier League had not disqualified him and asserted that another person was responsible for the collapse of his takeover attempt of Hull.

“Following recent comments in respect of the circumstances around the approval of Mr Dai’s acquisition of the Club in 2017, the League would like to reiterate that Mr Dai was not subject to a sports governing body disqualification, including the Premier League, at the time of the acquisition,” the English Football League said in a statement earlier this month.

“A different person’s participation was the reason Mr. Dai decided not to go ahead with a purchase at Hull City. Since this person was not involved in the later acquisition of Reading, the EFL was required to verify that Mr. Dai complied with the regulations in the absence of any disqualifying circumstances, as well as sufficient proof of funds and source.”

Read more news on https://www.sportupdates.co.uk/ 

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