Sell Before We Dai comment on proposed Reading FC takeover – Reading Today Online

Reading FC

READING FC fan group Sell Before We Dai has responded to claims that the club is close to signing an exclusivity agreement with Genevra Associates over the proposed takeover of the club.

Current owner Dai Yongge placed the club up for sale more than a month ago and has been in discussions with several interested parties.

Genevra Associates describes themselves as a ‘dynamic invest management company’.

It is believed that the full process of a takeover will take around six to eight weeks to complete once an exclusivity agreement has been signed.

Responding to the news, SBWD said: “Reports that Reading FC is on the brink of signing an exclusivity agreement with Genevra Associates are a welcome development, and we greet the news that Dai YOngge is close to selling with cautious optimism.

“We implore all sides to work tirelessly and in good faith to reach an agreement that benefits the Reading FC community as a whole – not just the individuals exchanging vast sums of money.

“Ever since Genevra Associates were first publicly mentioned in relation to buying the club, they have been in contact with fans via STAR. This is a welcome exchange and from what we’ve been used to under Dai, but it will not absolve them of scrutiny.

“We will continue to pressure the club and investors to be as transparent as possible with fans and start to undo the culture of silence curated by Dai’s appalling stewardship.

“Lastly, we call on the EFL to succeed where they have failed so many times before, including when Dai bought the club back in 2017.

“Reading fans are watching, football fans up and down the country are watching. Now is the time for them to prove their tests can be part of the solution to football’s ownership problem.”

Reading FC will be unable to comment until the EFL has fully approved the takeover.

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