May 17 – Chinese brother and sister Dai Yongge and Dai Xiu Li (pictured) who failed to complete on the acquisition of Hull City last year after the Premier League ruled against their deal, may become Premier League club owners after all having become the majority shareholders in Reading.
The announcement was made within hours of Reading reaching the final of the English Championship playoff, regarded as the single biggest money-spinner in the domestic game.
“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,” said Dai Yongge who, together with his sister.
The Dais are taking an 75% stake for an undisclosed sum (thought to be about £25 million) with Reading’s current Thai owners keeping a minority stake as well as land around the stadium and its hotel.
Dai Yongge has made his fortune through Renhe Commercial, a vast network of underground shopping centres in more than 30 Chinese cities.
His sister is one of the richest women in China. As well as sitting on the board of Renhe Commercial as a non-executive director she is also president of Beijing Renhe, who were recently relegated from the Chinese Super league. After working as a journalist in China, she moved to England in 1991 and got married but divorced after 21 years with her teacher husband.
The club have gained EFL approval for the change in majority shareholder though the Premier League may still have a say if Reading win the play-off final.
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