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Reading Football Club has
confirmed Chinese brother and sister, Dai Yongge and Dai Xiu Li, have become
the majority shareholders at the club following approval from the EFL.
The Championship club
gained EFL approval for the change in majority shareholder which sees the pair
take up their position with immediate effect. Existing shareholders will retain
a minority shareholding in the club.
A statement released by
the EFL confirmed the news stating: “The EFL can confirm that they have no
objections to the change of control application made by Reading.
“Following a full review
of the transaction, the EFL has insisted upon - and the club/new owners have
agreed - to a number of additional reporting requirements including enhanced
financial monitoring, so as to ensure that their performance is consistent with
the application we have considered.
“We would like to wish the
new majority shareholders Mr Yongge Dai and Miss Xui Li Dai the very best of
luck in their future endeavours with the club.
“We will be making no
further comment.”
Speaking of the news, Mr
Dai said, “One of my first priorities will be to visit the development site for
the new training ground and we also intend to revisit stadium extension plans
with the vision of creating world class facilities at the club.”
“On behalf of everyone at
Reading, I would like to officially welcome the Dai Family to the club,” said
Thai shareholder Lady Sasima.
“Dai Yongge and Dai Xiu Li
are clear in their ambition to take Reading Football Club forward and, together,
we will work diligently to continue to build a positive, successful and stable
future for our club.”
Chief Executive Nigel Howe
said: “Dai Yongge and Dai Xiu Li are investing in a club with undoubted
potential - investment which will benefit not only the first team squad, but
which will also help to improve the club’s training facilities, continue to
support its Category One Academy programme and actively assist in delivering
plans to develop the Royal Elm Park proposal. We are very pleased to welcome
them to Reading.”
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