Chinese siblings Dai Yongge and Dai Xiu Li have become the majority shareholders of League Championship side Reading, according to the BBC. The pair began negotiations to purchase a 75% stake from the club's Thai owners in November. The Premier League, which has "a say in takeovers" of clubs that could compete in its league, had been reported to be "cautious" about the deal. The English Football League released a statement on Wednesday which said it has "no objections to the change of control application made by Reading Football Club." The pair previously unsuccessfully tried to purchase Hull City, with the deal "falling through amid speculation that they had not met the Premier League's fit and proper person's requirements" (BBC, 5/17). In London, Ben Rumsby wrote the club has "been forced to submit themselves to strict financial checks to avoid being denied entry" to the Premier League should it win promotion. The EPL held "serious concerns" about the Dais' attempted takeover of Hull City last year. The EFL, Premier League and Reading would not expand "on the precise nature of the above reporting requirements" (TELEGRAPH, 5/17).
MOVING UP: ESPN.com reported Reading "could be playing in the Premier League next season" after it reached the League Championship playoff final with a 2-1 aggregate win over Fulham on Tuesday (ESPN.com, 5/17). The BBC also reported former Owner John Madejski "believes Reading's future is in safe hands following the takeover." He said, "Anybody with deep pockets that gets involved in Reading makes my day." Madejski, who sold the club to Russian tycoon Anton Zingarevich in '12, insisted he "had no concerns and was excited by the potential financial clout" it could give the club. Madejski: "Football is not for the faint hearted as I've been saying for many, many years -- millionaires need not apply, only billionaires, and we've certainly got billionaires now" (BBC, 5/17).
