Reading FC owner Dai Yongge has been given a deadline of April 4 to sell the club

Reading FC owner Dai Yongge has been given a deadline of April 4 to sell the club following his disqualification under the English Football League's (EFL) Owners' and Directors' Test.

The deadline was revealed during a hearing at the Commercial Court in London, where Yongge sought an injunction against former Wycombe Wanderers owner Rob Couhig. Yongge alleged that Couhig was obstructing his efforts to sell Reading, but Judge Mr Justice Jacobs denied the request for an injunction.

In a statement, the EFL confirmed Yongge's disqualification and emphasized the urgency of divesting his stake in the club. "The disqualification requires Mr. Yongge to divest his interests in the club, and in the event that he fails to do so within the agreed timeframe, the League will consider all options available within its regulations to bring the matter to a conclusion," the statement read.

The League also reiterated its commitment to facilitating the sale of Reading FC as quickly as possible to resolve uncertainty surrounding the club’s future, which has caused concern among players, staff, and supporters.

Yongge contends that Couhig’s financial securities are preventing the sale, complicating an already tense situation. Reading recently entered an exclusivity agreement with an unnamed party regarding a potential takeover, but previous sale attempts, including one involving Couhig, have collapsed.

The club currently sits eighth in League One, just two points shy of a playoff position, after an impressive 10-game unbeaten streak. However, the off-field turmoil remains a major distraction.

Following the court ruling, Reading FC issued a statement expressing their willingness to work with Couhig and the EFL to resolve the dispute. "To allow a sale to proceed, the club looks forward to working with Mr. Couhig to resolve this element of his claim," the statement said. "Mr. Dai remains committed to working with the EFL to sell the club and secure its long-term future."

The EFL has warned that if Yongge fails to sell within the designated timeframe, the club could face severe consequences, including possible expulsion from the league. Under EFL rules, Yongge has 28 days from disqualification to offload his shares, or Reading risks suspension from League One.

Yongge initially acquired a majority stake in Reading in 2017 before taking full control of the club. However, his tenure has been plagued by financial troubles, including multiple points deductions and transfer embargoes due to breaches of the EFL’s Financial Fair Play regulations. The club was relegated from the Championship at the end of the 2022-23 season and continued to struggle with financial penalties in League One.

Fan frustration with Yongge’s ownership has been growing, with protests intensifying in recent months. The supporter-led group Sell Before We Dai has been vocal in demanding his departure. In January 2024, tensions boiled over when Reading fans staged an on-field protest during a match against Port Vale, leading to the game’s abandonment after supporters threw tennis balls onto the pitch and stormed the playing area.

Despite the off-field chaos, Reading remains in the hunt for a League One playoff spot. However, the club’s fate now hinges on whether Yongge can finalize a sale before the EFL-imposed deadline, or risk further sanctions that could jeopardize its future in the Football League.

_{Featured Image Credit: Instagram / @readingfc}