Selles Hopes That's The End Of Reading's Sales As Deadline Day Looms

03 April 2024
By Hob Nob Anyone?

Every Royals fan knows what is going on at the club at the moment and the problems we face under current incumbent owner Dai Yongge, particularly with the EFL and their requirements, and it has long been apparent that the absolutely best outcome was for all parties to to move forward, and in their own separate directions.

To aid in that process, former chief executive Nigel Howe has been tasked by Yongge to oversee the sale of the club to new interested parties, and in a recent interview the 65 year old confirmed that there were eight different groups who had expressed keen interest in taking us on.

Whilst these varying groups, or individuals, have not yet been named, he did confirm that former Newcastle United owner Mike Ashley, had not following up his initial expression of interest in buying the club, so presumably he is not one of those eight, but from the point of view of fans until we know more about the interested parties, it is very much like taking a roll on the roulette wheel at an online casino in the United Kingdom, as we have no idea what we might be landing on.

Whilst firm proposals for a sale could go in front of Yongge in the next couple of weeks, a full transaction is likely to remain months off. But for those Reading fans at the end of their tether, confirmation that the owner is now intent on a sale, and not simply just external investment, should certainly come as welcome news.

"He's eventually got to the point where he thinks the best route is to go for a full disposal. We've been contacted directly by a good seven or eight bidders."

Howe confirmed that he had used his contacts in the English Football League to 'sound check' potential new ownership and investments, and obviously that is with an eye to fewer problems being found down the line when it comes to the 'Acquisition of Control & Owners' & Directors' Test' that will need to be undertook - although plenty in football would question its relevance and usefulness given the ongoing issues football clubs face when individuals seem to invest for all the wrong reasons.

"You'll get some pretty quick feedback. Clearly they are not going to tell you who to choose until you go to them with a proposal but at least you get an initial sound check that means you're not going to waste time putting forward someone who won't pass their funding regulations or the fit and proper director test."

There are obviously plenty of hurdles left to be jumped through here before everything is finalised and sorted, but at that point, hopefully the club can leave the issues in the past and begin moving forward and better planning for the future once again.

With Howe only involved in the sale procedure though, the other issues involving the more day to day stuff, are outside of his remit, so there may still be some frustrations on that front for a while...but we can live in hope.

Having fallen foul of the EFL and HMRC already, manager Ruben Selles opened up on some of the issues he has faced, with the 40 year old Spaniard now having completed his opening six months at the Madejski Stadium.

Given all the financial troubles and the turbulence we have faced, it is no surprise at all to see the gaffer admit that the EFL have been very strict and stringent when it came to whatever business we have tried to do during the January transfer window.

In the last few days really we have lost Tom Holmes to Luton Town (albeit with an initial loan back for the remainder of the campaign), but Nelson Abbey (Olympiakos) and Nesta Guinness-Walker (a loan to Stevenage, but his contract expires this summer) and there are no real signs of any arrivals.

Speaking to the Training Ground Guru Podcast, Selles admitted that he was now hopeful that he would not lose any additional players this window, so his sole focus is on trying to keep the group together now so there is a little bit more stability and understanding left in the first team squad for the second half of the campaign.

Ultimately, he does acknowledge that in our position, and as things stand, it is again quite likely that during the summer the process is likely to be repeated when it comes to sales to better balance the books. But he knows that even though we are almost basically at the whim of buying clubs if an offer is appropriate and proper, that is certainly a process that is better dealt with over the summer window rather than in the far more hectic January market, irrespective of the position we find ourselves in.

Whilst it feels unlikely that deadline day would be a particularly busy one for the club, given our transfer embargo limits us to free agents or loan signings only, Selles repeated that his main focus was in not seeing anymore departures - but it feels like there might be a little bit of wriggle room if we can find a perfect fit.

Not long to wait now, but without any question of a doubt, getting ourselves out of the dropzone is the major priority on the playing side, as relegation again would only further complicate things.

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