Reading have confirmed a 'period of exclusivity' with a new buyer just weeks after Rob Couhig's protracted attempt to takeover collapsed.

The Royals have been up for sale for over a year and have come close to changing hands on multiple occasions.

Most notably, American business Couhig expected to complete a deal however talks broke down late in the process and the club moved on.

With medium-term funding proving an issue, the club only have enough cash to run until December and any deal includes the prospective buyer funding the club while the process is ongoing.

Releasing a statement, the club said: "The Club can confirm it has agreed to a period of exclusivity with a potential purchaser. Both parties will now work to finalise terms with the intention of completing a sale at the earliest opportunity. This exclusivity period also includes further provision to fund the club until the transaction’s intended completion.
 
The proposed sale includes Mr Dai’s shareholding in The Reading Football Club Limited, as well as the Select Car Leasing Stadium and Bearwood Park training ground."

Former CEO Nigel Howe, who had been in charge of the process, has been banned until January.