Reading FC Ownership Crisis: EFL Grants Extended Deadline for Dai Yongge to Sell Club

EFL Intensifies Pressure on Reading FC Ownership

The English Football League (EFL) has granted Reading FC owner Dai Yongge until 22 April 2024 to complete the sale of the club, extending its original deadline amid ongoing financial uncertainty. This decision follows Yongge's disqualification under the EFL's Owners' and Directors' Test last month, which mandates his divestment.

Key Developments:

• Extended Deadline: The EFL emphasized its commitment to "ending uncertainty" for staff and supporters while confirming active negotiations with potential buyers.
• Suspension Threat: Failure to meet the new deadline could see Reading suspended from League One matches, with penalties determined by the EFL board.
• Playoff Implications: Currently 7th in League One (1 point outside playoff spots), a suspension would jeopardize Reading's promotion hopes with just 7 games remaining.

Governance Breakdown:

The EFL reiterated its stance in a statement:

"While Mr. Yongge remains non-compliant with his disqualification requirements, we retain authority to enforce suspensions. Suspended clubs retain league membership but cannot fulfill fixtures."

Club Response:

Reading FC previously asserted its commitment to avoiding suspension, claiming Yongge is "dedicated to concluding this process." However, fan groups have staged protests demanding transparency, citing £18M in unpaid wages and points deductions under Yongge's tenure.

Expert Analysis:

Football finance analyst Kieran Maguire notes:

"This extension suggests a credible buyer is engaged. The EFL wants to avoid another Bury FC collapse but won't tolerate indefinite delays."

What’s Next:

• April 22: Final deadline for ownership transfer
• April 27: Reading vs. Peterborough – Potential suspension-affected fixture
• Ongoing: EFL monitoring of staff payments and stadium maintenance

Madejski Stadium faces uncertain future amid ownership turmoil.