China duo in control of Reading
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E-mail Shanghai Daily, May 18, 2017
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Reading takeover by Chinese investors Dai Yongge and Dai Xiu Li approved by EFL. |
Chinese investors who failed in their bid to buy Hull City last year have succeeded in taking over Reading, which is one win away from the English Premier League.
Brother and sister Dai Yongge and Dai Xiuli snapped up 75 percent of the Championship club with the previous Thai owners retaining a 25 percent stake.
The EPL, which give its opinion on takeovers of clubs who could gain promotion, has been reported to be "cautious" about the Chinese siblings.
However, the English Football League, which oversees the Championship, League One and League Two, said it would not block the deal.
Reading, managed by former Netherlands and Manchester United defender Jaap Stam, on Tuesday saw off Fulham to reach the play-off final. It will learn later if its opponent in the final — the winner of which is promoted to the EPL — is Sheffield Wednesday or Huddersfield Town.
The brother-and-sister act unsuccessfully tried to purchase now-relegated EPL side Hull, with the deal falling through amid speculation they had not met the league's fit and proper person's requirements.
Reading chief executive Nigel Howe said the Chinese had ambitious plans, including "investment which will benefit not only the first-team squad, but which will also help to improve the club's training facilities (and) continue to support its category-one academy program".
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