News and Views

Club Still Waiting For New Owner

22 July 2014
By Hob Nob Anyone?

With the new season just two and a half weeks ago, Reading FC are still waiting for new ownership. As time runs out for the club to take part in the summer transfer market, the club are still waiting for Thai based Samrit Bunditkitsada and his consortium to come up with the agreed funds. A 26 million pound takeover deal was agreed last month, to transfer ninety percent of the ownership to Bunditkitsada and friends. However, only a small deposit has been paid despite the rest of the money expected last week. The deal, still subject to official approval, is far from being finalised as the Royals look to start the season with a much weakened squad and an unknown boardroom team.

Should the Thai consortium fail to come up with the cash then Reading FC still have the option to switch to other bidders. Interest from the US still continues and an offer from the American group is reported to be much better funded, which could mean a quicker completion. The takeover has dragged on for months and months, and Reading Football Club remain silent as they cross their fingers in the hope that it will eventually complete. Adkins has no budget for new players and a further delay could see other players out of the door before the season kicks-off as the club look to pay off further bills. There may be no reason to panic - Bunditkitsada might suddenly come up with the money. But as time drags on you can't help thinking this could still take a turn for the worse giving the Royals a very difficult start to the new campaign.

Share this article: