Nigel Howe offers an update on the Royals takeover situation.
Despite Reading’s continuous financial troubles, which are supervised by owner Dai Yongge, the Royals have managed to climb out of the League One relegation zone with two wins in their previous three third-tier games.
On Saturday, the Royals defeated Carlisle United 3-1 after taking a 3-0 lead just before the hour mark, demonstrating the grit that former Southampton manager Ruben Selles has instilled in his playing squad.
But off-field issues aren’t helping Selles and co.; only last week, the Royals were docked two points after Yongge failed to pay HMRC on schedule.
Unfortunately for everyone associated with the Royals, trouble has been brewing in Berkshire for a while now, and in November 2021, the club was deducted six points for exceeding the EFL’s permitted loss limit, signaling a cycle of recurring punishments that the Royals are still experiencing.
To save the Royals from their current predicament, a club takeover must occur, removing Yongge’s ownership of the Berkshire outfit.
Nigel Howe offers an update on the Royals takeover situation.
Former Royals chief executive Howe is currently in charge of finding a buyer for the club, and he told the Battle and Bunce talking property podcast: “We’ve got one buyer who’s way ahead of everyone else, and then we’ve got three or four people behind them.”
“There are people from all over the world who have expressed an interest, including North America, the Far East, Australia, and India.
Howe expects the deal might be finalized in the spring.
He stated, “We set a target to complete it in late spring, so March or April.
“I’m an optimist, and I’d like to believe that we can deliver something by then.
“We are working as hard as we can to deliver.
“I’m talking to a lot of purchasers, especially those who don’t have much expertise in Reading.
“If you look at the other clubs that could be bought in League One or the Championship, and look at the assets that Reading has, and by assets, I mean the quality of the stadium, a Premier League training ground, you’ve got to say, hey, you’re getting a lot of assets for your money.”
“You might think this is a no-brainer, but I believe the problem with football is that you will always lose money, possibly, in whichever league you play in.
“Especially if you want to be successful, you must invest in the squad and do so correctly.
“Reading itself, in my opinion, and I know I’ve been associated with it for nearly thirty years, has everything you need to elevate a football club from where it is now to the pinnacle of football.
“I’m working eight days a week at the moment, selling the club.”
Howe compliments previous Reading chairman Sir John Madjeski for his dedication to the club and its success.
“He desperately wishes things hadn’t turned out the way they did, and it would be fantastic if any new owners could keep Sir John connected in some manner.
“I think there’s lots of people who should be kept involved in football clubs.”I’d like to think that I’m kept connected because people become the fabric of a football club’s future, and everyone should be involved, including players, owners, directors, and senior staff.
“I hope that there’s lots of people that, as long as they’re able are kept involved because it’s part of the fabric of the community, and they’ve been kept a part of the fabric of the club, a lot of these people.”
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