EFL club owner disqualified and told to sell club

Reading owner Dai Yongge has been given a deadline of 4 April to sell the club after he was disqualified under the EFL's Owners' and Directors' Test.

The date imposed by the English Football League emerged at a hearing at the Commercial Court in London on Friday, where Yongge was trying to get an injunction against ex-Wycombe owner Rob Couhig - who he claimed was blocking his attempt to sell the Royals.

The request for a mandatory injunction was not granted by judge Mr Justice Jacobs.

"Following its disclosure in open court earlier today, the League can confirm that Mr Yongge has been recently disqualified under the EFL's Owners' and Directors' Test," the EFL said in a statement.

"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 League continues to work closely with Reading FC to progress a sale of the club at the earliest opportunity, in order to end the current uncertainty surrounding its future for its staff, supporters and wider community."

In court on Friday, Yongge argued he is unable to sell while Couhig - who previously tried to buy the club - and his securities remain in place.

The Royals announced they had entered into a period of exclusivity with an unnamed party over a potential takeover late last month.

At the time, they said they were optimistic the deal could be completed quickly and it would be "for the benefit of all concerned".

A number of attempted takeovers - including Couhig's - have fallen through since Yongge committed to a letter of intent to sell the club last March.

Reading are eighth in League One, two points off a play-off place, following a 10-game unbeaten run.

That will be some good news for fans of Reading.

VT next? We can hope.

That will be some good news for fans of Reading.

VT next? We can hope.

Problem is that if he doesn't sell them in time, they'll probably throw Reading out of the EFL.

That will be some good news for fans of Reading.

VT next? We can hope.

Problem is that if he doesn't sell them in time, they'll probably throw Reading out of the EFL.

I doubt it will be that extreme, the punishment I mean.

I hope for the fans sake he does sell on time, but to be fair, the 4th April isn’t a long time away and I’m sure that the sale of a football club takes a while to go through.

That will be some good news for fans of Reading.

VT next? We can hope.

Problem is that if he doesn't sell them in time, they'll probably throw Reading out of the EFL.

I doubt it will be that extreme, the punishment I mean.

I hope for the fans sake he does sell on time, but to be fair, the 4th April isn’t a long time away and I’m sure that the sale of a football club takes a while to go through.

It is the outcome if he fails to sell! They'll
Have 28 days afterwards before sanctions take place... hot to remember there's no sentiment when comes to clubs going out buisness or efl.. besides it's efl rule so no ambiguity or leeway

That will be some good news for fans of Reading.

VT next? We can hope.

Problem is that if he doesn't sell them in time, they'll probably throw Reading out of the EFL.

I'm taking it thats out of the matrix system. They could find themselves in sat the National league?

That will be some good news for fans of Reading.

VT next? We can hope.

Problem is that if he doesn't sell them in time, they'll probably throw Reading out of the EFL.

I'm taking it thats out of the matrix system. They could find themselves in sat the National league?

Problem they've got is no owner no money to pay players staff ect they will go way of Bury form new club with new people running it.....start low down pyramid probably.

That will be some good news for fans of Reading.

VT next? We can hope.

Problem is that if he doesn't sell them in time, they'll probably throw Reading out of the EFL.

I'm taking it thats out of the matrix system. They could find themselves in sat the National league?

That seems the most likely outcome but as Allan says, that will lead to serious questions about their future as a club due to the further financial issues that would cause.

Hopefully they get a sale done ASAP.

That will be some good news for fans of Reading.

VT next? We can hope.

Problem is that if he doesn't sell them in time, they'll probably throw Reading out of the EFL.

I'm taking it thats out of the matrix system. They could find themselves in sat the National league?

That seems the most likely outcome but as Allan says, that will lead to serious questions about their future as a club due to the further financial issues that would cause.

Hopefully they get a sale done ASAP.

Ned while gheres numerous sanctions that can be levied at them without an owner they cannot be in efl system ...where did Bury end up 9th tier? That's likely their future but not as reading fc ... more likely afc reading or similar.. as said no sentiment when comes to efl and clubs status

That will be some good news for fans of Reading.

VT next? We can hope.

Problem is that if he doesn't sell them in time, they'll probably throw Reading out of the EFL.

I'm taking it thats out of the matrix system. They could find themselves in sat the National league?

That seems the most likely outcome but as Allan says, that will lead to serious questions about their future as a club due to the further financial issues that would cause.

Hopefully they get a sale done ASAP.

Ned while gheres numerous sanctions that can be levied at them without an owner they cannot be in efl system ...where did Bury end up 9th tier? That's likely their future but not as reading fc ... more likely afc reading or similar.. as said no sentiment when comes to efl and clubs status

EFL partly caused this too. Yongge failed the owners test in the Premier League when he tried to buy Hull but then had no issues getting through the EFL test to buy Reading.

Obviously now the EFL say he's not fit to own a club, so they were wrong to let him buy them in the first place. Clearly a good reason why the PL wouldn't let him buy Hull.

That will be some good news for fans of Reading.

VT next? We can hope.

Problem is that if he doesn't sell them in time, they'll probably throw Reading out of the EFL.

I'm taking it thats out of the matrix system. They could find themselves in sat the National league?

That seems the most likely outcome but as Allan says, that will lead to serious questions about their future as a club due to the further financial issues that would cause.

Hopefully they get a sale done ASAP.

Ned while gheres numerous sanctions that can be levied at them without an owner they cannot be in efl system ...where did Bury end up 9th tier? That's likely their future but not as reading fc ... more likely afc reading or similar.. as said no sentiment when comes to efl and clubs status

EFL partly caused this too. Yongge failed the owners test in the Premier League when he tried to buy Hull but then had no issues getting through the EFL test to buy Reading.

Obviously now the EFL say he's not fit to own a club, so they were wrong to let him buy them in the first place. Clearly a good reason why the PL wouldn't let him buy Hull.

Very true ned been many claims proper person test is not fit for purpose.... just another point on reading there are complications as another party is owed money and taking them to court already done so once and due to do so again ....... total mess that should and could have been avoided....

So fed up with dodgy owners with no care for what the football club means to the community. Absolutely despise Tan as an owner but at least he's somewhat smart with his money.

So fed up with dodgy owners with no care for what the football club means to the community. Absolutely despise Tan as an owner but at least he's somewhat smart with his money.

Smart with money but not at city
Or footballing matters!.... like said previously he maybe public enemy no1 but there are worse than him around.

Wish it was Tan

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Wish it was Tan

That was my first thought!

Wish it was Tan

What getting booted out by efl? Sounds a good idea in context of this thread?

As a follow on from Allan's statement above & the previous comments I have a question. What, if anything, is there to stop an owner saying "oops I can't find a buyer" and letting the club slide into oblivion?

As a follow on from Allan's statement above & the previous comments I have a question. What, if anything, is there to stop an owner saying "oops I can't find a buyer" and letting the club slide into oblivion?

Good question.

I doubt Yongge gives a toss what happens to Reading unfortunately.

He already had a club in Belgium and a club in China that went bust, before he'd even bought Reading.

As a follow on from Allan's statement above & the previous comments I have a question. What, if anything, is there to stop an owner saying "oops I can't find a buyer" and letting the club slide into oblivion?

Good question.

I doubt Yongge gives a toss what happens to Reading unfortunately.

He already had a club in Belgium and a club in China that went bust, before he'd even bought Reading.

There have been owners who have stopped funding clubs except for mandatory things...... as we know takeovers of clubs is not a simple thing Everton ncastle took several attempts by several entities before completed. ... just two examples as for reading well is it 4 or 5 different bids but like said there is a 3rd party problem to hinder sale of club...yonnge doesn't give toss that's for sure.

As a follow on from Allan's statement above & the previous comments I have a question. What, if anything, is there to stop an owner saying "oops I can't find a buyer" and letting the club slide into oblivion?

Good question.

I doubt Yongge gives a toss what happens to Reading unfortunately.

He already had a club in Belgium and a club in China that went bust, before he'd even bought Reading.

For Me an owner should not have more than 1 club - along with why is Choo a CEO or (whatever is his title) of 2 clubs ???

They lost 20m when got relegated and players wages didn't drop from championship levels.

Reading have now been issued with a winding up petition by a players agency... that will add to problems for sale of vlub.