Reading FC enter period of exclusivity
Club statement says takeover deal could be completed quickly
A wave of optimism has hit the Reading FC fan base with the news that the club has entered a period of exclusivity with a potential new owner.
A brief statement from the club also suggested that the deal could be completed quickly. Fans will be rightly cycnical afer the prolonged and painful nature of the sale process, but any shaft of light will be welcomed.
Statement
"Reading Football Club can confirm it has committed to a letter of intent with a potential purchaser of the club.
"The parties will now enter a period of exclusivity to complete final due diligence and legally complete the transaction. Whilst timelines cannot be guaranteed, the structure of the deal should allow for a quick completion, which would be for the benefit of all concerned.
"Whilst we understand our supporters' wish to know the purchaser’s identity, at this stage, confidentiality is preferred to complete at the earliest opportunity.
"The club can confirm the agreed sale includes 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 Facility."
Reaction
Fans have also picked up on the fact that all parts of the club including the stadium and the training ground are included in the deal.
Reaction is as you would expect guarded but definitely hopeful.
Reading fans will be hoping this is the real deal but will know that until the deal is signed and approved they can't afford to dream.