Mike Ashley rumoured takeover of Reading FC as choppers land

A prominent figure in football for over a decade, Ashley was the controversial owner of Newcastle United from 2007 until 2021.

Not well-liked on Tyneside, predominantly due to his lack of desire to spend heavily in the transfer window, he sold for over £300m to the Public Investment Fund of Saudi Arabia as the Toon now play in the Champions League.

CEO of Frasers Group, other retailers owned by the company include Jack Wills, GAME and Flannels.

His company currently own Coventry City’s CBS Arena after agreeing a deal with previous owners SISU.

Thousands marched to yesterday’s defeat to Portsmouth in protest against Dai Yongge, who is looking to sell the club after six years of spiralling debts and plummeting down the Football League.

Another controversial British businessman, William Storey, has put his name to a bid for the club.

However, on Sunday morning two Frasers Group helicopters landed at the SCL Stadium.

The Reading Chronicle understand that meetings between the football club and the interested party are taking place today at the stadium ahead of a potential takeover.

Up to three parties remain interested, but there is a desire to get it solved quickly with another HMRC tax bill going unpaid and the staff due to be paid on Tuesday, October 31.