Former Newcastle United owner Mike Ashley is reportedly in talks to purchase League One club Reading. Ashley, whose controversial tenure at Newcastle ended in 2021, has engaged in discussions with current owner Yongge Dai regarding a potential buyout. This news comes as Reading fans protested against Dai, with the club currently sitting at the bottom of the third tier after a 3-2 home defeat to Portsmouth.
Dai, who has been the majority shareholder of Reading since May 2017, has faced personal charges of misconduct by the English Football League (EFL) for failing to deposit sufficient funds to cover club wages. This is not the first time Reading has encountered EFL breaches, as they have received points deductions in each of the last three seasons. The club has also dealt with transfer embargoes, including one imposed last month due to an outstanding tax bill.
On October 12, Reading announced that they had received interest from several parties looking to acquire the club. They stated that they were evaluating these approaches to find the most suitable buyer who can ensure a prosperous future for the club. One of the potential buyers mentioned is British businessman William Storey, who has previously attempted to purchase Sunderland and Coventry City. Storey is reportedly leading a consortium that aims to acquire Reading in a deal worth up to £50 million.
Mike Ashley’s ownership of Newcastle United spanned 14 years before it concluded with a £305 million takeover by Saudi Arabia’s Public Investment Fund in 2021. As for Reading, they were relegated from the Championship last season due to a six-point deduction imposed by the EFL for breaching a profit and sustainability plan.
The potential acquisition of Reading by Mike Ashley raises questions about the future direction of the club. Ashley’s tenure at Newcastle was marked by controversy and criticism from fans. Many supporters blamed him for the club’s lack of investment in players and infrastructure, leading to a decline in performance on the field. If Ashley were to take over Reading, it remains to be seen how fans would react and whether he would bring about positive changes for the club.
Furthermore, the financial stability of Reading is a significant concern. The club’s repeated breaches of EFL regulations and ongoing financial difficulties have hindered their progress on and off the pitch. A new owner with the necessary resources and a commitment to improving the club’s financial situation could provide a much-needed boost for Reading.
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In conclusion, former Newcastle United owner Mike Ashley is reportedly in talks to purchase League One club Reading. This potential acquisition comes as Reading faces financial difficulties and struggles on the field. The future direction of the club under Ashley’s ownership remains uncertain, but fans hope for positive changes that will lead to a brighter future for Reading Football Club.