Nigel Howe, the manager of Reading Property Projects, has disclosed that he intends to finalize a deal to sell the club “by lat spring.
Owner Dai Yongge urged the former CEO, who has been involved with the team for almost 30 years, to help with the club’s sale.
Howe, who was a pivotal figure in the prosperous early 2000s under Sir John Madejski, spoke on the Royals’ growth on the property podcast “Battle and Bunce Talking Property.”
We have one buyer who is much ahead of everyone else, and we have three or four people who are behind them,” Howe disclosed. “With all the hoops they have to jump through, there is no way you can play this game with only one horse because there is a potential they could fall at any time at any gate for any reason. You’re also concerned about the standard of diligence they consistently exhibit.
People still ask you dumb questions. Following the offer, they will inquire about the operation of the stadium and training facility. Suddenly, at the eleventh hour, after viewing the data room, they will ask, “So we don’t own the hotel?” Examining every document makes it quite evident that you will not be the hotel’s owner. It may be necessary for that individual to return to the buyer. Dealing with them is a convoluted process with many twists and turns.”
When pressed further for specific dates and times, the 66-year-old provided supporters with a general scale.
“We want to finish it by late spring, which means March or April. I’m
