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Fans accuse EFL club owner of asset stripping

Published: Updated: 10:25, 12 Mar 2024
The life of Reading fans hasn't been like it used to be

Reading fans are demanding action following accusations against owner Dai Yongge of asset stripping. The club, which has been in crisis for several months, is now up for sale. This comes after the team was relegated from the Championship last season and received a points deduction this term due to financial irregularities.

Yongge's decision to sell comes after months of protests that have disrupted games and even led to one being suspended. Despite these challenges, he has pledged to continue funding the club until a new owner is found. However, his recent move to put the training ground up for sale has sparked outrage among fans.

Dai Yongge has already initiated process to sell the club

Reading's current owners have already made their intentions known that they intend to sell the club, but they have not kept their promise of continuing funding until a new owner arrives. Reading FC is seeking a new owner who is able to restore stability and trust, as well as ensure its long-term viability, as its future hangs in the balance. Fans continue to call for action over what they consider unacceptable.

Reading owners released a statement:

"Mr Dai is currently evaluating every option at present to secure sufficient funding until new ownership is confirmed. In doing so, he is open to the sale of Bearwood Park, should an appropriate offer be received.

"Whilst dialogue with potential new ownership groups are progressing, as of today no single party has been granted exclusivity.

"Mr Dai and representatives will continue to liaise with interested parties and hope to move forward at the earliest possible opportunity. Further communication with substantive developments will come as appropriate."

Fans have completely bombarded social media against decision

The news about the training ground sale was confirmed by both Yongge and Reading CEO Dayong Pang in an official statement released by Reading FC. However, this announcement was met with backlash as fans accused Yongge of asset stripping - selling off assets without considering long-term consequences. This accusation follows Reading's decision earlier this year to sell several promising young talents in January.

One fan expressed disappointment with what they saw as asset stripping at its finest: "Congratulations!" One fan expressed his displeasure with the asset stripping: "You've just openly announced your intentions and willingness to strip the club. Utter, club killers, both of you.

The future of the football club is also a matter of concern for another fan, stating: "There is no sale on the way, this football club is nearing its end." A third fan echoed this sentiment, writing: "Yeah we're completely f****d. Asset stripping at its finest. Just sell the club."

The situation at Reading FC serves as a stark reminder that sports clubs are not just businesses but also community assets whose fortunes can deeply affect their supporters' emotions. The fans' outcry against the perceived asset stripping is a call for responsible ownership that respects both the financial and emotional investments of supporters.

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