CLUB STATEMENT | TAKEOVER UPDATE & TRANSFER EMBARGO STATUS
All parties involved, particularly its supporters, can get an update from Reading Football Club on the status of the transfer embargo and the ongoing sales process.
The Club may verify that it and a possible buyer have agreed to an exclusivity period. With the goal of completing a deal as soon as possible, both sides are putting a lot of effort into finalising conditions. Additional funding for the club until the planned completion of the transaction is also included in this exclusivity period.
The Select Car Leasing Stadium, Bearwood Park Training Ground, and Mr. Dai’s ownership stake in The Reading Football Club Limited are all part of the proposed transaction.
The Club can also disclose that it has been officially placed under a registration embargo by the English Football League (EFL) as of today, in addition to being required to operate in accordance with the conditions of its business plan.
According to EFL regulations, this embargo was put in place because financial accounts for the 2022–2023 accounting period were not filed on time to Companies House. We are collaborating closely with our auditing partner to complete these accounts as soon as possible, after which the embargo will be promptly lifted.
The Club would like to thank all of its supporters and employees for their patience during this period, and it will promptly notify you of any further developments regarding the takeover and embargo status.
Read more news on https://sportupdates.co.uk/
Leave a Reply