14 March 2024
By Hob Nob Anyone?
The club have confirmed that they are planning on selling Reading's Bearwood training ground to League One rivals Wycombe Wanderers. The sale of the training ground essentially kills off any prospect of a quick sale of the club. The impressive training ground would have been the main asset and obviously vital in any potential sale of the club. Wycombe Wanderers are set to secure themselves a bargain with the estimated £20 million to £25 million price tag only half of the development cost. Reading's announcement earlier this week that they were looking to offload the facilities to aid short term cash flow, couldn't have come at a better time for Wycombe who were in deseprate need of training facilities. This way they get a first class facility that is recently constructed and not far from home. In the summer they will simply swap the badges over and kick Reading out of their training home.
With Reading sinking to League One and no longer in ownership of their stadium after it was asset stripped by Dai Yongge, the remaining positives were Reading's training facilities and our academy, that has developed so many players that the first team now rely on. In the space of a few days both of those things that the club and supporters have been so proud of, have been dealt a fatal blow. There will now be very little left of Reading Football Club to sell - if there is any remaining interested buyers. Reading would have remained an attractive purchase to some, but there will be very little left to buy.
The club are reported to need an extra million pounds to cover wages and tax bills this month, so will be looking to offload the training ground as soon as possible. The income should enable bills to be paid and avoid a further points deduction. However, there is no guarantee that the money will remain available to fund the club and not line Dai Yongge's pockets. Wycombe's statement claims they are coming to Reading's rescue to "provide Reading with necessary financial support to ensure that they are able to meet their ongoing financial obligations". Unfortunately the opposite is true, as this short term "fix" destroys Reading's future. Desperate times just got worse and the big question is will Reading Football Club even exist next season?
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