Reading fans’ club Sell Before We Dai has reacted with ‘cautious optimism’ to the news that Genevra Associates is close to settling on exclusive rights to purchase the club.
Since the Reading Chronicle reported the story on Monday evening, the European hedge fund with ties to a failing Wigan Athletic administration has yet to win over supporters.
Sell Before We Dai, the group behind the anti-Dai Yongge protests, has issued a statement disclosing that they have been in talks with Genevra Associates for months.
“Reports that Reading FC is on the verge of signing an exclusivity agreement with Genevra Associates are a welcome development, and we greet the news that Dai Yongge is close to selling with cautious optimism,” stated spokeswoman Nick Houlton.
“We urge all parties to work diligently and in good faith to achieve an agreement that benefits the entire Reading FC community, prioritizing the collective welfare over the interests of those involved in substantial financial transactions.
“Since Genevra Associates was first linked to the club’s acquisition, they have maintained communication with fans through the Supporters’ Trust at Reading (STAR), a positive departure from the past under Dai’s ownership. However, this does not exempt them from scrutiny. We will persist in pushing for transparency from the club and investors, aiming to dismantle the culture of secrecy perpetuated by Dai’s detrimental leadership.
“Lastly, we call upon the EFL to succeed where they have faltered in the past, especially during Dai’s acquisition of the club in 2017. Reading fans and football enthusiasts nationwide are closely observing. It’s time for the EFL to demonstrate that their assessments can contribute to solving football’s ownership challenges.”
It is hoped that exclusivity will be granted this week, with a full takeover completed in time for the New Year.
