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Dai Yongge & Dai Xiu Li Now Majority Shareholders

Dai Yongge & Dai Xiu Li Now Majority Shareholders

In the wake of Reading's play-off semi-final victory on Tuesday, booking a place at Wembley against Sheffield Wednesday or Huddersfield, Dai Yongge and Dai Xiu Li were confirmed as the Royals' majority shareholders.

Talks opened in November and this protracted bid has rumbled on since with the Premier League - who have a say in any takers of clubs that could gain a place in the topflight - reportedly 'cautious about the proposed deal involving the Chinese brother and sister.

Yongge, in September 2016, had failed in a previous attempt to gain control at Hull City having reportedly failed to the Football Association's fit and proper persons test.

A statement was released following the 1-0 win over Fulham saying the English Football League (EFL) had approved this majority shareholding adding the Dai family had become 'avid supporters' and also 'contributed financially to the ongoing working capital involved in running of the club' since first expressing an interest.

Mr Dai told the Official Website: 'One of my first priorities will be to visit the development site for the new training ground and we also intend to revisit stadium extension plans with the vision of creating world class facilities at the club.'

Reading shareholder Lady Sasima added: 'On behalf of everyone at Reading, I would like to officially welcome the Dai Family to the club. Dai Yongge and Dai Xiu Li are clear in their ambition to take Reading Football Club forward and, together, we will work diligently to continue to build a positive, successful and stable future for our club.'

Chief Executive Nigel Howe said: 'Dai Yongge and Dai Xiu Li are investing in a club with undoubted potential - investment which will benefit not only the first team squad, but which will also help to improve the club`s training facilities, continue to support its Category One Academy programme and actively assist in delivering plans to develop the Royal Elm Park proposal. We are very pleased to welcome them to Reading.'

It was also confirmed Reading's previous majority Thai shareholders, in control at the Madejski since 2014, would retain a minority stake.

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Writer:Site Staff
Date:Wednesday May 17 2017
Time: 12:45PM

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