Investment may help the Royals to solve their short-term liquidity issues, but a full sale is needed considering how damaging the Dai era has been.
It would be easy to say that owner Dai Yongge has endured a pretty torrid time at Reading during his six years at the helm.
But he has been the main player in his and the club’s own downfall, even though he’s currently having trouble moving money to the United Kingdom because the Chinese government have put limits on the amount of capital that can be transferred.
The Telegraph has also reported that the Royals may face another points deduction if they fail to pay wages on time at the end of this month, which would be a massive blow to a club that is already in the League One relegation zone without further deductions.
The Berkshire outfit has already been docked four points this season and 16 in total during Mr Dai’s time at the helm, with their six-point deduction during the latter stages of last term effectively relegating the club.
Without that punishment, the Royals would have stayed in the Championship.
What league the club is in is currently irrelevant for fans of the third-tier outfit though – because the Berkshire side has failed to pay HMRC on time yet again and they are potentially facing another winding up petition if they fail to resolve this issue.
Thankfully for them, at least three parties are interested in investing in the club and one is reported to be in advanced negotiations, which will be a boost to a side that desperately needs an injection of cash.
The Royals’ supporters won’t be relaxed until investment is officially confirmed, but it’s a small bit of positive news during what has been a turbulent campaign for their team thus far.
Their young team has performed well at times – but some of the points they have earned have been taken away due to Mr Dai’s failure to pay bills on time.
The EFL have charged the Chinese businessman personally for failing to deposit 125% of the club’s forecasted monthly wage bill into an account, which is a positive move.
However, he needs to be removed from power as quickly as possible.
Why does Dai Yongge need to sell his whole stake in Reading FC?
Quite frankly, Mr Dai has failed in several areas during his time at the Select Car Leasing Stadium.
He has failed to pay wages and HMRC on time on numerous occasions, but that’s just the tip of the iceberg. Dai has also overspent and willfully broken the EFL’s financial rules, which has led to previous points deductions.
One of his biggest crimes, however, has been his failure to reach out and build a relationship with Reading supporters during their difficult times.
It’s not good enough to say ‘well, you wouldn’t care about him speaking to the supporters if things are going well’. When times get tough, owners have to step up to the plate and be accountable.
Dai has failed to do so and his sister and co-owner Ms Dai Xiu Li is also missing in action – and has been for some time.
Both of them should be banned from owning another club in English football – because they have driven the Royals into the ground and reduced them to a laughing stock – through no fault of the club’s employees, the squad or the supporters.
They were a club that was previously renowned for their stability under Sir John Madejski – but many fans are now fearing administration and liquidation.
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