Former Newcastle United owner Mike Ashley held takeover
Reading director Nigel Howe has confirmed former Newcastle United owner Mike Ashley held talks over a possible takeover of the League One club – but is yet to ‘revisit’ any initial interest.
The Sports Direct founder officially brought an end to his often controversial ownership of the Magpies in October 2021 when a prolonged takeover bid by a Saudi-led consortium belatedly came to a successful conclusion.
Ashley had completed his own takeover at St James Park in May 2007 and his 14-year ownership became littered with controversial moments including two relegations, questionable decisions that led to the departures of clubs legends Kevin Keegan and Alan Shearer and a decision to rename St James Park using his sports retail business.
Since leaving Newcastle, Ashley has been linked with takeovers at several clubs and completed the purchase of Coventry City’s CBS Arena in November 2022 before serving the Sky Blues with an eviction notice just weeks later. However, recent speculation suggested Ashley was keen to return to football and had considered a move for Reading as the controversial ownership of Dai Yongge continues to wreak havoc at the League One club.
The Chinese businessman was criticised for a ‘clear disregard of his obligations’ by the EFL earlier this month after receiving a fine for breaching a financial order. The Royals have also been deducted a total of 16 points over the last three seasons and there have been a whole wave of cost-cutting measures made in recent years that have caused widespread public protests from the club’s supporters.
The EFL were set to meet with Supporters Trust at Reading and Sell Before We Dai, a supporters group protesting against Yongge, earlier this month as concern over the club’s long-term future remains shrouded in doubt and controversy. After being placed in charge of any potential sale, Royals director Howe has revealed Ashley was ‘looking around to see what opportunities were available’ but is yet to firm up any interest in the club with an official offer.
Speaking to BBC Berkshire, Howe said: ”We had a couple of conversations with Mike’s people six or seven weeks ago. That is when we were really looking around to see what opportunities were. None of those came to anything because I think at the time it looked like because the club wasn’t being funded properly and Mr Dai was desperate to sell. We’ve gone into a much more transactional process now where we’re talking to people in a proper way. At this stage, Mr Ashley’s people haven’t revisited.”