Yongge disqualified & told to sell Reading by April

Reading owner Dai Yongge has been given a deadline of 4 April to sell the club after he was disqualified under the EFL's Owners' and Directors' Test.

The date imposed by the English Football League emerged at a hearing at the Commercial Court in London on Friday, where Yongge was trying to get an injunction against ex-Wycombe owner Rob Couhig - who he claimed was blocking his attempt to sell the Royals.

The request for a mandatory injunction was not granted by judge Mr Justice Jacobs.

"Following its disclosure in open court earlier today, the League can confirm that Mr Yongge has been recently disqualified under the EFL's Owners' and Directors' Test," the EFL said in a statement.

"The disqualification requires Mr Yongge to divest his interests in the club, and in the event that he fails to do so within the agreed timeframe, the League will consider all options available within its regulations to bring the matter to a conclusion.

"The League continues to work closely with Reading FC to progress a sale of the club at the earliest opportunity, in order to end the current uncertainty surrounding its future for its staff, supporters and wider community."

In court on Friday, Yongge argued he is unable to sell while Couhig - who previously tried to buy the club - and his securities remain in place.

The Royals announced they had entered into a period of exclusivity with an unnamed party over a potential takeover late last month.

At the time, they said they were optimistic the deal could be completed quickly and it would be "for the benefit of all concerned".

A number of attempted takeovers - including Couhig's - have fallen through since Yongge committed to a letter of intent to sell the club last March.

Reading are eighth in League One, two points off a play-off place, following a 10-game unbeaten run.