The EFL has ordered the owner of Reading FC to sell the club immediately.

Dai Yongge fined another £50,000 and ordered to sell so the club can move forward with renewed optimism.

Reading the owner of the football club, Dai Yongge, is ordered to sell the club.EFL issued the statement after the owner continued to ignore their orders regarding the deposit account.The statement also said the fans’ protest, which saw the tie against Port Vale called off, would be discussed later this week.Here is the statement in full:andquot;As Reading FC supporters are only too aware, it has become increasingly clear over the last few months that Mr Dai Yongge is no longer in a position or motivated to financially support the club. conducted an inspection after being replaced in 2017.andquot;In November 2023, the EFL requested that Mr Dai be disqualified for failing to fund a reserve account for player and staff wages following repeated breaches of EFL rules. This was later overturned by an independent disciplinary board and replaced with a financial penalty.andquot;EFL has now received confirmation that Mr. Dai has not met the latest deadline set last Friday to fund the deposit account as scheduled, meaning he has been in default for nearly four months. As a result – and under the terms of the December 15 decision – a fine of £50,000 has now been imposed, bringing the total to £80,000.andquot;His continued failures mean the club and hardworking staff are once again without security of pay and he shows a clear disregard for his responsibilities as club boss.andquot;In this matter, the League is now considering all options available under the rules and will not hesitate to pursue further charges against Mr. Dai.andquot;In the interest of the future of Reading FC, its staff, supporters and the local community, we call on Mr Dai to either provide sufficient funding for the club or make immediate arrangements for the sale of his majority shareholding to a suitable new one. owners that everyone can move forward with renewed optimism.& quot; For our part, we are working with Mr. Dai, his team and the club, as well as potential buyers, to move as quickly as possible to meet the requirements of the rules and end this difficult period for all involved.” The events of the end of last week were followed by the unfortunate scenes on Saturday afternoon which saw the game against Port Vale abandoned and further showed how the current situation is affecting everyone involved with the club.andquot;However, entering the playground is a crime and endangers the safety of all participants. The EFL board will discuss the events of Saturday’s game at a meeting later this week, as it has a duty to the League’s member clubs and the competition to ensure that all 72 clubs meet the requirements of the rules agreed in advance by the EFL -clubsand QUOT; Finally, the league has been in regular dialogue with the Reading (Star) Referee Trustee over the last few months and has always – and will continue to – make itself available to recognized supporter groups to discuss difficult situations and how,,,,,,,,,, about current affairs has arranged a meeting with representatives of several groups within the next 24 hours. andquot;.