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Reading: Deal to sell club could stall as exclusivity period ends

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Reading’s owners will decide in the next day whether to sell the club to an unnamed potential buyer – or consider bids from other interested groups.

The Royals entered a period of exclusivity in March with a yet-to-be revealed party after owner Dai Yongge committed to a letter of intent.

This agreed term lapsed on Tuesday and the next 24 hours should reveal if Reading will proceed with the sale to the group that had exclusivity or look elsewhere.

In the latter eventuality, however, BBC Radio Berkshire understands there are others expressing an interest in buying the club.

A source at the club said other interested parties had “piled in” but that Reading were unable to speak to them while the exclusivity agreement was in place.

BBC Radio Berkshire understands one of the stalling points with the group that has held exclusivity is the price of the purchase.

The source says Yongge is growing frustrated at the interested party “chipping away” at the price that has been set for the sale of the Select Car Leasing Stadium and its Bearwood Park training centre.

The original bidder has not undergone the EFL’s Owners’ and Directors’ Test yet as it is a consortium and is undecided who the intended and named owner would be.

Former Reading chief executive officer Nigel Howe is in charge of brokering the sale of the club and is working alongside Yongge, who is looking to sell his shares.

Yongge and Howe are insistent events must progress within the next seven days or they will likely look to pursue the sale of the club with another of the interested parties.

The Royals finished the League One season safe in 17th place despite Ruben Selles’ side having six points deducted for financial breaches.

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