March 28 – Gulf-based entrepreneur and philanthropist Saad Kassis-Mohamed has emerged as a potential investor in Reading FC, as the crisis-hit English third-tier club teeter on the edge of administration. His interest comes amid an increasingly desperate ownership battle, with time running out for the Royals to find a financial lifeline.
Kassis-Mohamed (pictured), chairman of Saudi Arabian regional airline Pegasus Air and founder of the WeCare Foundation, has initiated discussions over a possible stake in the League One side who last competed in the Premier league in 2013. While no formal offer has been made, he has promised a vision that that uses sport as a vehicle for community engagement, financial stability, and ethical governance—an approach that could offer much-needed relief to a club engulfed in turmoil.
Reading are currently locked in a three-way standoff involving their controversial owner, Dai Yongge, and two American businessmen, Robert Platek and Rob Couhig, both of whom have attempted to buy the club.
The stalemate, compounded by financial uncertainty and Dai’s disqualification by the EFL, has left the club at risk of administration and possible suspension from the league.
With just days to go before an EFL deadline of April 5, the situation remains precarious. Dai is in an exclusivity period with private equity specialist Platek, but a legal dispute with Couhig over property rights to the club’s stadium, car park, and training ground has complicated the deal.
Couhig, a former Wycombe Wanderers owner, claims he still wants to buy Reading and has insisted he would “get on a plane today” if it would help resolve the crisis.
Reading have been clinging on financially, relying on a £5 million loan from Couhig and a sell-on fee from Michael Olise’s move from Crystal Palace to Bayern Munich. But sources suggest it is “touch and go” whether they have enough funds to see out the season, with further borrowing impossible due to the club’s lack of assets as security.
The crisis has been made worse by Dai’s legal battles in China, where unresolved court cases – including one that could leave him facing a £200 million bill – led to his disqualification under the EFL’s owners and directors test in February. The EFL, fearing it could jeopardise the sale process, kept the ruling private until it was revealed in court last week.
An emergency EFL board meeting on April 3 will decide Reading’s fate if a sale has not been finalised. Administration is a real possibility — something the EFL is desperate to avoid, as no club has entered administration since Derby County in 2021.
Kassis-Mohamed’s interest in Reading offers a potential alternative to the ongoing power struggle, but with the current negotiations already highly complex, it remains to be seen whether his approach will gain traction. For now, Reading’s survival remains on a knife edge, and the next few days could determine the club’s long-term future.
“Reading FC has a loyal fan base and a proud legacy. It’s the kind of club that deserves stability, not speculation,” said Kassis-Mohamed. “I’m exploring whether my team and I can contribute to building something meaningful and future-facing with the right structure in place.”
Contact the writer of this story, Harry Ewing, at moc.l1743174891labto1743174891ofdlr1743174891owedi1743174891sni@g1743174891niwe.1743174891yrrah1743174891
Source link
Add Comment