“I don’t have enough financial ability to do that”:
Sir John Madejski has ruled himself out of the race to own Reading FC

Sir John Madejski confirmed he cannot buy Reading Football Club but admitted he “likes the idea”.

Speaking to BBC Radio Berkshire’s Andrew Peach on Friday morning, the former Royals chairman discussed the club’s ongoing ownership dilemma following the announcement that owner Dai Yongge is set to sell.

He also praised the work of Reading Borough Council and the Reading Supporters Trust in awarding the Select Car Hire Stadium, formerly known as Madejski Stadium, as a Valuable Asset. community.

When asked if he wanted to buy the club, Sir John replied:
“Even if I liked the idea, I simply don’t have the financial resources to make it happen. I have always supported Reading Football Club and I think my contribution to Reading FC must come before [me]. “It’s time for someone younger than me to take the reins, give it his all and make it happen. It’s a great opportunity that I think could be successful.

Fans have called on Mr Dai to sell points deductions for three consecutive seasons, unpaid tax bills from HMRC and late salary payments.

Earlier this year, Sir John urged fans to continue supporting the Chinese businessman due to his significant investment in the club, but his stance appears to have changed since then.

Speaking about the club’s current predicament, he said:
“It’s completely evil. My heart goes out to all the fans and all the wonderful people who work at Reading FC and have been loyal to the club for so many years. “Honestly, the situation is terrible and completely pointless, because if Mr. Dai had only bothered the local people all of this could have been avoided many years ago.

“What he did wrong was to receive advice from people who had no connection with Reading FC. These incredible high-flying international agents.

Sir John later described the club as a “bargain” for a potential buyer, suggesting that Mr Dai might be willing to sell it for £20m and Reading could move into receivership, a process in which a seizure officer would intervene. to manage the club.

He added that he and former CEO Nigel Howe have been talking to parties that might be interested in buying the Royals.

Thursday’s decision by the council to save the Select Car Hire Stadium, home of Reading FC, by granting it ACV status, has been welcomed by the man who first built it. He said he “applauds” local government and advocates’ efforts to make it happen.

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After being beaten for over a week against Blackpool and only managing a goalless draw at home to Burton Albion on Saturday, Ruben Selles needed some response against the Cobblers, but they blew their way. well and truly.

The Royals led 2-0 at half-time thanks to goals from Sam Hoskins and Louis Appere, but Southampton loanee Dom Ballard pulled one back midway through the second half.

However, the match was ended by Mitch Pinnock, who scored in the 96th minute to secure the three points for Town and send Reading supporters home disappointed.

Reading have only accumulated 10 points after their opening 10 matches, although their record is currently only 6 points due to a 4-point deduction since mid-August. The failure of owner Dai Yongge to pay players in full and on time three times in