READING face being expelled from the EFL if Dai Yongge does not sell in the next 44 days.
The Royals owner, 56, is said to have failed the EFL’s owners and directors test.
Dai Yongge has failed the EFL’s owners and directors testRex Features
Dai’s company, Renhe Sports management, has been in a court battle with former prospective Reading buyer Rob Couhig’s Redwood Holding Ltd.
Couhig, who previously owned Wycombe Wanderers, had agreed a £30million deal to buy the Royals.
But the deal subsequently collapsed.
Couhig, 75, is claiming more than £12m in lost potential profits after alleging that Reading’s current owners broke exclusivity rules.
As the case unfolded, the court was told that, due to debts in China, Dai had failed the EFL’s owners and directors test.
It was also claimed that as of April 4, league bosses will look to disqualify the Chinese businessman.
From this point, Dai would have 30 days to sell up or Reading would face being disqualified from the EFL.
Last month Reading announced that they had entered a “period of exclusivity with a potential purchaser”.
SunSport later revealed that the prospective buyer was Robert Platek.
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