Reading Owner Rejects Roger Smee's Takeover Bid

Dai Yongge, owner of Reading FC, has faced criticism after rejecting a takeover bid from former chairman Roger Smee, who expressed disappointment over the public disclosure of his proposal. Smee, a notable figure in the club's history, submitted a structured bid aimed at rescuing the financially troubled club, which has suffered a total of 16 points deducted by the English Football League for breaching financial regulations. He emphasized his commitment to the club's future and the desire to keep his bid private, underscoring that he believed it was competitive with previous proposals granted exclusivity. Despite his efforts, Smee's bid was turned down, adding to the pressure on Yongge to consider selling the club amid ongoing turmoil and mismanagement. This rejection follows a failed attempt by former Wycombe owner Rob Couhig to purchase the club in September. As negotiations continue with an undisclosed party, Smee remains hopeful for Reading's future.