EFL approve Chinese takeover of Reading
Reading have received conditional approval for the takeover by a Chinese family.
A statement released by Reading said a "change of control" to allow brother and sister Dai Yongge and Dai Xiu Li to take over the club has been conditionally approved. The pair started negotiations with Reading's current owners in November.
A statement from Reading on Sunday evening said: "Upon receipt of a letter on Friday from Shaun Harvey, the Chief Executive of the EFL, Reading Football Club can now confirm that an application for a proposed change of control at the club has been conditionally approved. The club will now spend the coming weeks working diligently with the EFL, our current shareholders and both to ensure the application meets those specific conditions and all the relevant EFL regulations."