TAKEOVER *NOT* CONFIMRED

[WestYorksRoyal]

This makes for depressing reading. Its from Sky Germany:-

Despite interest from a considerable number of parties, Loitz is understood to have offered Yongge the highest bid. However, the Chinese owner is not making the process easy, as Loitz explained to Sky Germany:

“Mr. Dai put the club up for sale last year but wants to keep the majority by any means necessary. He is in a hopeless situation, but he doesn’t want to recognise that and is now sabotaging the sale as best he can.”

As well as this, according to Loitz, Yongge would be willing to “stab the interested parties in the back” and keep hold of Reading no matter what. In spite of Loitz having already been given the green light from the English Football League regarding a possible takeover of the club, with Yongge in the way, there is no guarantee the club will ever be sold.


https://www.getfootballnewsgermany.com/ ... eading-fc/

He's an attention seeker. James Earnshaw has already said that his story was nonsense and he never provided proof of funds.

[bcubed]

Is that Brad Ray guy from Twitter on here? I have never seen someone talk so much but say so little in my life. Constantly having to talk about the takeover suggesting he's ITK but says NOTHING. Just stfu.

I apologise to any fan that has felt misled or mentally drained by my posts.I was given information by someone at the club, I felt it was only fair to share with fellow fans. I’m not one for I know something and you don’t 8
elitist shite. I was excited by what I was told

I suspect not many of these accounts are actively lying. But they think that their mate in some mid level role at the club has the full picture when they clearly won't.

There is a lot of 2+2=5 going on, which I get, as things are definitely picking up speed through necessity if nothing else but yes, the only people who will actively know the actual situation are those in the meetings which will probably be quite restricted to the buyers reps, Dai's reps and the clubs reps (Howe, lawyer and poss Bowen). So unless someone knows one of those people and they are happy to talk off the record knowing it will get out unofficially, at best all a contact at the club will know is there was a meeting between Howe and someone (may know company name at best).

Well quite
The rest is guesswork

[SouthDownsRoyal]

a lot of ITK twitter accounts that previously told us an announcement was coming this week are now suddenly ITK that it will take another 6-8 weeks

How funny and how predictable.

The sad thing is not the fake ITK fantasists craving clicks and replies it’s the grown adults who fall for it

[SouthDownsRoyal]

a lot of ITK twitter accounts that previously told us an announcement was coming this week are now suddenly ITK that it will take another 6-8 weeks

How funny and how predictable.

The sad thing is not the fake ITK fantasists craving clicks and replies it’s the grown adults who fall for it

This all reminds me of

How people are online still bemuses me.

If you were in a pub and some random guy came up to you and said oh by the way mate the Reading FC sale is a done deal news next week and walked off you’d think nothing of it.

If some people read on X some random guy saying oh by the way the Reading sale is a done deal news next week then it’s time to tell everyone and believe it

[Winston Biscuit]

a lot of ITK twitter accounts that previously told us an announcement was coming this week are now suddenly ITK that it will take another 6-8 weeks

How funny and how predictable.

The sad thing is not the fake ITK fantasists craving clicks and replies it’s the grown adults who fall for it

same twitter accounts will be saying more nonsense soon enough and people will fall for it

[Winston Biscuit]

a lot of ITK twitter accounts that previously told us an announcement was coming this week are now suddenly ITK that it will take another 6-8 weeks

How funny and how predictable.

The sad thing is not the fake ITK fantasists craving clicks and replies it’s the grown adults who fall for it

This all reminds me of

How people are online still bemuses me.

If you were in a pub and some random guy came up to you and said oh by the way mate the Reading FC sale is a done deal news next week and walked off you’d think nothing of it.

If some people read on X some random guy saying oh by the way the Reading sale is a done deal news next week then it’s time to tell everyone and believe it

whichever wise old sage said that^ should probably be put in a position of moderating others words tbh, not just in here but, well, anything else they want I guess

[SouthDownsRoyal]

a lot of ITK twitter accounts that previously told us an announcement was coming this week are now suddenly ITK that it will take another 6-8 weeks

How funny and how predictable.

The sad thing is not the fake ITK fantasists craving clicks and replies it’s the grown adults who fall for it

same twitter accounts will be saying more nonsense soon enough and the same people will fall for it

Yup

“I’m hearing” “I’m being told” “my friend who is close to the club”

If I read on a respected source we have a new owner I’ll believe it.

Although not sure I’ll ever read that with dai as owner.

[Stranded]

a lot of ITK twitter accounts that previously told us an announcement was coming this week are now suddenly ITK that it will take another 6-8 weeks

How funny and how predictable.

The sad thing is not the fake ITK fantasists craving clicks and replies it’s the grown adults who fall for it

This all reminds me of

How people are online still bemuses me.

If you were in a pub and some random guy came up to you and said oh by the way mate the Reading FC sale is a done deal news next week and walked off you’d think nothing of it.

If some people read on X some random guy saying oh by the way the Reading sale is a done deal news next week then it’s time to tell everyone and believe it

People are more prepared to believe something written down than spoken especially when it is about an emotive subject.

[blythspartan]

Once exclusivity has been agreed can Dai change his mind or can the buyers withdraw their offer and walk away?

[WestYorksRoyal]

Once exclusivity has been agreed can Dai change his mind or can the buyers withdraw their offer and walk away?

Yes on both counts. If the buyer is asked to deposit funds, it become less likely on the buyers side. Who knows on the sellers side. Ideally the bridging loan would involve a charge that allows the buyer to place us into administration if the deal falls through. Such a clause would show Dai is very serious about selling.

[Franchise FC]

Once exclusivity has been agreed can Dai change his mind or can the buyers withdraw their offer and walk away?

Sadly, until contracts are signed and exchanged, either party can pull a deal

[WestYorksRoyal]

What would a club statement look like this week? "We can confirm that we have reached an agreement for exclusivity, some immediate short term funding has been provided, we can't say any more so fcuk off and stop asking questions."?

And then presumably journalists would report the party involved.

[Hendo]

What would a club statement look like this week? "We can confirm that we have reached an agreement for exclusivity, some immediate short term funding has been provided, we can't say any more so fcuk off and stop asking questions."?

And then presumably journalists would report the party involved.

Think that's probably how it'll go.

[andrew1957]

Good to hear from Nigel Howe. The club sale is in good hands as I absolutely believe he cares about the club. But even being optimistic it sounds as though the process will take 8-10 weeks to complete at best and that assumes that Dai doesn't move the goal posts (perhaps literally) yet again.

We can only hope that Dai genuinely does want to sell the club this time.

He said again that Dai is committed to selling. But I don't know how he can know that given Dai is absent. I view Howe's answers as akin to those of an old school politician (before they all started brazenly lying about a decade ago). He's trying to be honest with us, but spinning messages and ensuring we don't all start jumping ahead to fears of liquidation etc.,

The most recent interview was probably intended to quell the ridiculous speculation flying around.

You are of course right. Dai could spin this out for 8-10 weeks and then pull the plug on then sale at the last minute, but no sane person would do this as liquidation would result and so he would destroy what remains of his value in the club. My guess is that Dai has been desperately trying to find ways of getting more money out of the club, but has now come to the conclusion he will have to sell the whole lot as one entity as soon as he reasonably can.

If, as an alternative he is truly mad, then we won't be starting next season and will cease to exist. Either way I doubt this saga will end until at least June. On a positive by then we will know if the club will be in L1 or L2 next season - assuming it exists at all.

[Winston Biscuit]

I assume June 30th is the key date for us to hopefully know what is happening, due to player contracts and registering ourselves for next season

[Whore Jackie]

League registration must be earlier than that, fixtures normally come out middle-to-end of June. Would the EFL take a risk on our continued participation in our respective league, if the takeover process is sufficiently advanced by end of May?

[WestYorksRoyal]

And look how long it takes just to get to this stage of having reputable offers on the table both in the autumn and this time. This really has to be it, or it's curtains.

[andrew1957]

I assume June 30th is the key date for us to hopefully know what is happening, due to player contracts and registering ourselves for next season

Unfortunately I doubt any takeover will be in time to re-sign out of contract players such as Azeez and so we will likely lose them and have yet another major rebuilding job at the start of next season. However as starting next season at all - after the last few weeks - will be a bonus, I suppose we have to accept that building a promotion squad for 24/25 might be a stretch. Hopefully we can just have a stable season in L1.

[WestYorksRoyal]

I assume June 30th is the key date for us to hopefully know what is happening, due to player contracts and registering ourselves for next season

Unfortunately I doubt any takeover will be in time to re-sign out of contract players such as Azeez and so we will likely lose them and have yet another major rebuilding job at the start of next season. However as starting next season - at all after the last few weeks - will be a bonus, I suppose we have to accept that building a promotion squad for 24/25 might be a stretch. Hopefully we can just have a stable season in L1.

Wouldn't rule it out. Exclusivity this week, deal completed in early May. Why wouldn’t players stay in a team performing well where the spirit is strong?

[andrew1957]

I assume June 30th is the key date for us to hopefully know what is happening, due to player contracts and registering ourselves for next season

Unfortunately I doubt any takeover will be in time to re-sign out of contract players such as Azeez and so we will likely lose them and have yet another major rebuilding job at the start of next season. However as starting next season - at all after the last few weeks - will be a bonus, I suppose we have to accept that building a promotion squad for 24/25 might be a stretch. Hopefully we can just have a stable season in L1.

Wouldn't rule it out. Exclusivity this week, deal completed in early May. Why wouldn’t players stay in a team performing well where the spirit is strong?

Hope you are right but with this owner can you seriously think it will be done and dusted so quickly.