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New hope for Reading fans

There may be light at the end of the tunnel for fans of Reading FC, one of the oldest clubs in football. Last week we brought you the sorry tale of the Chinese-owned team, where unpaid bills and mounting debts have left it in full-blown crisis. Its troubles are symptomatic of the broader financial woes facing English football, and help explain why the British government is seeking to regulate the game.

This week there was a breakthrough when Reading owner Dai Yongge said he had entered exclusive talks with a potential buyer, who Bloomberg later identified as Chiron Sports Group. The Switzerland-based firm is backed by money from Christian Angermayer, a German entrepreneur with interests varying from AI and cryptocurrencies to biotech and psychedelics.

Sell Before We Dai, the fan campaign group that has long been pressing for a sale, described the start of the formal talks as “a good day”. Let’s see what happens.

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