Former Reading owner Sir John Madejski issued a grave prediction for his former club, believing it is heading toward receivership.
Taking over in 1990, Madejski led the club into the Premier League twice and moved into the SCL Stadium in 1998, owning the club for a total of 26 years.
Now on the outside looking in, the former AutoTrader founder is fearing for the future of the Royals.
Appearing on BBC Radio Berkshire, he implored for anyone rich enough to come forward and secure the long-term future of the club.
“The way it’s going, heading to receivership, I think Mr Dai will look at every offer that’s offered to him,” he told Andrew Peach. “I would say any offer north of £20M would secure it. I’m not sure.”
Dai Yongge has been at the helm since 2017 but has overseen 16 deducted points, multiple winding-up petitions for late payment of tax and years of transfer embargoes.
Reading are still yet to pay HMRC for September, while wages for staff were only secured at the last minute.
Supporters have protested for Yongge to sell the club, interrupting the last two home matches, and the Chinese businessman is reportedly looking to let the club go.
“Quite frankly the situation is so dire and absolutely without reason or sense. If Mr Dai had only bothered to listen to people local on the ground, this could all have been averted many years ago.”
