BREAKING: A step forward for Reading FC sale as owner signs ‘letter of intent’ – Reading Chronicle

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Owner Mr Dai has been in negotiations with the party and has now committed to a letter of intent regarding the sale.

Reading FC confirmed the move towards a sale and said completion of the sale could take up to two months.

The statement from the club said: “The Club can confirm Mr Dai has committed to a letter of intent with a potential purchaser of Reading Football Club.

“The parties will now enter a period of exclusive negotiation to agree the final terms. The completion is expected to take up to two months, at which time the purchaser will be announced. 

“The transaction would include the transfer of Mr Dai’s shareholding in The Reading Football Club Limited, as well as the Select Car Leasing Stadium and Bearwood Park training ground. 

“The club will communicate with further updates when appropriate.”

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