The Select Car Leasing Stadium, the home of Reading Football Club, has now been listed as an Asset of Community Value amid ownership concerns.

Reading Borough Council have approved the application put forward by Supporters Trust at Reading to protect the use of the former Madejski Stadium for football.

Supporters have been concerned about the future of the stadium as it is owned by Chinese businessman Dai Yongge, who is attempting to sell the Royals after seven years in charge.

Sold to Yongge in 2020 in an attempt to get around Financial Fair Play regulations, the Royals are charged rent every season to play at their own stadium.

The first part of this window is a 6-week interim period, which will apply in all cases, from the point the owner notifies the local authority.

This will allow community groups to make a written request to be treated as a potential bidder. If none do so in this period, the owner is free to sell their asset at the end of the six weeks.

If a community interest group does make a request during this interim period, then the full six-month period will operate. During this period the owner may continue to market and negotiate sales but may not exchange contracts (or enter into a binding contract to do so later). There is one exception. The owner may sell to a community interest group during the moratorium period.

After the moratorium period – either the six weeks if there has been no community interest or the full six months – the owner is free to sell to whomever they choose and at whatever price.

Councillor Jason Brock, Reading Borough Council Leader, said: “It continues to be an understandably concerning time for every Reading supporter. While the recent points deduction was the latest blow for the club's fans, it is fair to say the biggest battles to come will likely take place off the pitch.

 “Both myself and Councillor Ennis - who I've asked to be our principal liaison on these issues - were happy to meet in person with representatives of the STAR supporters’ group earlier this year and pleased for the Council to receive and subsequently approve the application to make the Select Car Leasing Company Stadium an Asset of Community Value.

"I hope the designation sends a message to the owners, but I would repeat the calls that myself and Councillor Barnett-Ward made previously to the Government for far better regulation and intervention nationally. Councils should not be left with such limited powers when a huge part of their area's life and soul faces real threat.”

It has been the home of the football club since Sir John Madejski funded the move from Elm Park in 1998.