By Chris King •
Published: 29 Oct 2023 • 17:46
Image of Reading FC stadium.
Credit: By Richard Croft, CC BY-SA 2.0
THE former owner of Newcastle United, Mike Ashley, is believed to be interested in taking over Reading football club.
Two Frasers Group helicopters reportedly landed at the SCL Stadium in Berkshire this morning, October 29. It was said to be transporting company delegates who would supposedly meet with representatives of the club’s Chinese owner Dai Yongge, according to talksport.com.
After being deducted 16 points in less than two years for numerous financial breaches, the former top-flight club finds itself propping up League One. Reading have lost every match so far this season and fell into the relegation zone back in September.
Yongge took over at Reading six years ago but their current league position and mounting debts have led to a serious backlash recently from disgruntled Royals supporters.
A march involving thousands of protesters was staged at Elm Park yesterday with the club again losing 2-3 at home to Portsmouth FC, as reported by readingchronicle.co.uk. Yongge is known to be open to selling the football club.
Despite not being the most popular person among Magpies fans due to his perceived lack of investment, the often controversial Mike Ashley owned Newcastle United from 2007 until 2021.
The businessman – who made his money as CEO of Sports Direct before delving into football club ownership – eventually sold out to the Public Investment Fund of Saudi Arabia for £300m in October 2021.
After agreeing a deal with the previous owners SISU, his company currently owns Coventry City’s CBS Arena. Toon fans are now enjoying watching their side compete at the top level in the Premier League while also playing in the Champions League.
According to the Reading Chronicle, the deadline for unpaid staff at Reading FC to get paid expires this Tuesday 31. A tax bill owed to HMRC has allegedly not been paid but at least three partied are thought to be still interested in taking over the struggling club.
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Originally from Wales, Chris spent years on the Costa del Sol before moving to the Algarve where he is a web reporter for The Euro Weekly News covering international and Spanish national news.
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