Chinese investors take over another English football club
The logo of Reading Football Club. [Photo: Agencies]
The brother and sister duo of Dai Yongge and Dai Xiulu have finally managed to get their hands on an English football club.
The two, who formed Renhe Commerical Holdings in China in the 1990's, reportedly have managed to secure a 75% stake in Reading FC.
A price-tag for the purchase has not been announced.
Reading is currently in England's Championship division, which is a step down from the Premiership.
"One of my first priorities will be to visit the development site for the new training ground and we also intend to revisit stadium extension plans with the vision of creating world class facilities at the club," said Dai Yongge.
His sister, Dai Xiulu, is currently the President of Beijing Renhe FC, which was relegated this past season to China's League One division.
The Dai family is not new to English football.
Renhe Commercial attempted to purchase Hull FC last year, but eventually withdrew the offer.