Reading Football Club would like to provide an update on the proposed takeover of the club.
Over several months the owner and potential purchaser, alongside the EFL, have been working extensively on ensuring the completion of the deal – with the prospective owner cleared by the governing body to take over the club.
All parties had hoped to have the takeover completed ahead of the transfer window deadline this evening, however the complexities of the deal have prevented this from happening.
The takeover has involved the transfer of multiple properties, both physical and intellectual. In addition to these assets in question, the stakeholders involved are located across 14 time zones worldwide, with multiple local laws and legislation needing to be abided by.
In regards to potential signings this window, discussions remain ongoing, with staff members at the club working tirelessly to strengthen the playing squad before this evening’s 11pm deadline.