Reading Football Club have released a statement regarding an update on the ongoing takeover situation.
The club has said that Mr Dai and the parties involved were ‘unable to find an agreement’.
It was reported today that Rob Couhig’s proposed deal to buy the club from Dai Yongge has collapsed.
The American businessman has loaned around £5million to help fund the club during the last couple of months.
Despite a willingness from Couhig’s side to get a deal done, it now appears that other parties will be invited back to the negotiation table by Dai Yongge and Nigel Howe.
As a result of not finding an agreement with Couhig, Mr Dai and his representatives will be pursuing ‘alternative options’.
The full statement says: “Reading Football Club would like to provide an update on the sale of the Club.
“Over recent weeks and months, Mr Dai and his representatives have been in exclusive dialogue with a potential purchaser. Despite lengthy and complex negotiations, the parties have been unable to find an agreement. This exclusivity period has now expired, and the Club will pursue alternative options.
“The Club acknowledges and appreciates the financial support provided by the potential purchaser during recent months. All loans have now been paid back to the potential purchaser in full along with the accrued interest.
“Whilst an agreement was not found on this occasion, Mr Dai remains committed to the sale of Reading Football Club and provisions are in place to fund the Club until a transaction is completed.
“The Club would like to thank all stakeholders, especially its staff and supporters, for their continued patience and will communicate further updates once appropriate.”
