New takeover

[Clyde1998]

Seems there's now serious talk of a takeover happening.

https://twitter.com/Smudgersport/status ... 65697?s=20

I've heard from a good source that a takeover could happen soon. #readingfc

https://twitter.com/Jamie_Hodder21/stat ... 69440?s=20

2/3 weeks ago £30m was rejected I believe. Hopefully this means negotiations have continued and more movement!

[blythspartan]

I’d be surprised if it was a full takeover, but I’d love it to be Mike Ashley.

[WestYorksRoyal]

Crossing everything. Firstly that it happens, and secondly that it's a good owner. Not some billionaire looking for a plaything. Not a sportswashing regime. A competent businessman who knows they can increase the value through getting us to perform better will do fine.

[windermereROYAL]

Don`t any prospective new owners have to pass the fit and proper process? that could take till Christmas the way the EFL do things.

[Orion1871]

Don`t any prospective new owners have to pass the fit and proper process? that could take till Christmas the way the EFL do things.

As long as they finally get it right and don't approve yet another crook.

[Brogue]

My sources are also confirming this is close

[Orion1871]

My sources are also confirming this is close

Confimred then.

Welcome our new North Korean overlords.

[WestYorksRoyal]

Don`t any prospective new owners have to pass the fit and proper process? that could take till Christmas the way the EFL do things.

Does the state of our club make them expedite things? With AZ and the Dais, we were under stable ownership so they took their time to do an excellent, thorough job.

Whereas the Thais were very quick as we were screwed without the deal completing. And similarly, Wigan went through pretty quick because it needed to.

[Royal_jimmy]

Why isn't this on the rumours and gossip thread and there's already a similar thread

[Millsy]

Don`t any prospective new owners have to pass the fit and proper process? that could take till Christmas the way the EFL do things.

The EFL fit and proper 'test' that Dai somehow passed even though the PL failed him?

This is really good news. Of course I don't know who it is yet but I'm glad there's something going on.

[From Despair To Where?]

It's a consortium fronted by ex Welsh Rugby International and current Cardiff Blues coach Dai Young.

[windermereROYAL]

You have to wonder what impact this will have on our efforts to register Savage and Wing.

[Sutekh]

My sources are also confirming this is close

Confimred then.

Welcome our new North Korean overlords.

Nigerian Prince Everso Marvellous Notascammer.

[Hendo]

[SouthDownsRoyal]

The takeover is close and payment will be made in Ugandan Dollars I’m hearing

[RoyalBlue]

The takeover is close and payment will be made in Ugandan Dollars I’m hearing

EFL have also approved despite call from BBC's scam interceptors. They're happy to monitor things closely and impose embargoes and points deductions if necessary.

[tidus_mi2]

Expectations are so low I think a majority of Reading fans would take someone who will just pay the bills on time.

[Brogue]

dai is at bearwood today showing the prospective new owner around

[Brogue]

its an American investment fund called 777 Partners. They got wind of the club being for sale after George Puscas deal - they own 99% of Genoa

They have stakes in;

Sevilla FC 7.5%
Genoa C.F.C 99%
CR Vasco da Gama 70%
Standard Liège 100%
Red Star F.C 100%
Melbourne Victory FC - unsure - minority stake
Hertha BSC 64.7%

[RoyalBlue]

its an American investment fund called 777 Partners. They got wind of the club being for sale after George Puscas deal - they own 99% of Genoa

They have stakes in;

Sevilla FC 7.5%
Genoa C.F.C 99%
CR Vasco da Gama 70%
Standard Liège 100%
Red Star F.C 100%
Melbourne Victory FC - unsure - minority stake
Hertha BSC 64.7%

Interestingly they were apparently looking to raise a further $200M earlier this month.

https://www.sportspromedia.com/news/777-partners-soccer-investment-multi-club-ownership/?zephr_sso_ott=ZvXtJO