READING have been handed a lifeline after the EFL extended the deadline for owner Dai Yongge to sell the club.
The Royals are subject to a takeover bid from an anonymous party.
Yongge is set to be suspended as owner of the club by the EFL after he failed the owners and directors test due to debts in China.
That means he must sell up or Reading will be disqualified from the EFL.
The EFL initially ordered Yongge to part with Reading by April 4 – SunSport can reveal that deadline has been pushed back to April 22.
From that point, Dai will have 30 days to sell up.
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Last month Reading announced that they had entered a “period of exclusivity with a potential purchaser”.
SunSport later revealed that the prospective buyer was Robert Platek, who already owns Italian club Spezia and Portuguese outfit Casa Pia.
The new buyer is in talks to take over the club the stadium and the training ground.
It was claimed at the time that Reading were hopeful of “a quick completion” to the deal.
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However an ongoing litigation case with former prospective buyer Rob Couhig is holding up the sale process.
Couhig, who previously owned Wycombe Wanderers, had agreed a £30million deal to buy the Royals.
But the deal subsequently collapsed with Couhig claiming he lost more than £12m in potential profits after Reading broke their exclusivity agreement.
Source: Soccer - thesun.co.uk
