Reading in talks to avoid EFL suspension if club doesn't sell by deadline
The club could face suspension if owner Dai Yongge does not sell by 5th April
Reading are in "close dialogue" with the EFL in a bid to avoid being suspended from the league next month.
The club could face suspension if owner Dai Yongge does not sell by April 5.
The league ordered Yongge to divest after disqualifying him under its owners' and directors' test. The PA news agency understands the disqualification was linked to his business interests in China rather than anything connected to Reading.
A statement from the club on Thursday said exclusive dialogue with a potential purchaser - reported to be American businessman Robert Platek - was ongoing, but they are also seeking to stave off the threat of suspension if the sale is not complete by April 5.
"Whilst the EFL board ultimately has the power within its regulations to suspend the club amongst its options if Mr Dai's interests are not divested by this date, we remain in close dialogue with the league with the full intention of avoiding this eventuality," the club said.
Reading say they have also put forward a proposal for alternative security to former Wycombe owner Rob Couhig in a bid to settle his legal dispute with Dai. Couhig had been in talks to buy Reading but the deal collapsed last September.
Reading said a transfer embargo imposed by the EFL had been lifted after they finally submitted their 2022-23 accounts, but they expected a new embargo to be imposed because it was "highly unlikely" that the 2023-24 accounts would be submitted by Monday's deadline.
Reading's statement concluded with a message of thanks to fans.
"Your desire to see the sale completed is acknowledged and shared from all those associated with our fantastic club, and there is strong hope a resolution for this will be found imminently," it said.