Reading Football Club have issued a statement updating supporters on the 'complicated and lengthy' takeover process.

Dai Yongge put the club up for sale in autumn 2023 and still owns the club, despite repeated months of late payments to staff and late bill payments.

Despite coming hours away from being sold to American Rob Couhig this summer, the former Wycombe Wanderers chief is now set to start legal proceedings against the club.

While this is ongoing, the club remain in talks with an interested party and are hoping to seal out a deal in the coming months.

Issuing an official statement this afternoon, the club said: "Reading Football Club would like to provide an update following the club's last formal communication on 7th October 2024.

"While discussions remain ongoing, the day-to-day operations remain in place with the club navigating cashflow challenges to meet its obligations. Full focus will remain on operating as prudently as possible until the sale is completed to new investors who can take the club forward.

"The club understands our supporters' eagerness for a resolution to the ongoing sales process. We are committed to providing updates when substantive information is available, or at least monthly until the sales process is complete."

On the pitch, Reading sit seventh in League One and host non-league Harborough Town in the FA Cup on Sunday.