Breaking: Discussions are ongoing as the groups may get to the last takeover of Reading today…
Nigel Howe has sent an update to the Reading Supporters Trust about the sale of Reading Football Club.
Howe acknowledged that the takeover process at Reading has been going on for a few months and that it has been “slower than originally hoped.”
To discuss the takeover’s progress, STAR asked to meet with Howe, who is in charge of managing the club’s sale.
“Mr. Dai is still determined to sell, and we can confirm that multiple parties are still interested in the club. Talks are moving forward, though they are taking longer than we had anticipated,” a statement from STAR reads.
“We challenged Nigel to provide an explanation for the longer than expected sale timeline.
“This seems to be caused by the complicated ownership structure of the different businesses that comprise the football team, in addition to Bearwood’s higher-than-average operating expenses for an L1 team and a bigger-than-average L1 stadium.
We anticipate receiving funding shortly to pay June’s salary and HMRC.
“We recognize that supporters are interested in more information and concrete developments, but a number of NDA constraints prevent the club and Nigel from disclosing specifics.
We can assure you that we will keep requesting updates. We will provide an update even if there isn’t one.
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