The petition of residents of Reading and supporters of Reading Football Club
Declares that:
(i) Since 29 May 2012, ownership of Reading Football Club (“RFC”) and its material assets has passed through a number of different owners, following a period of sustained success under the custodianship of Sir John Madejski.
(ii) The ownership changes culminated in the ultimate beneficial owners of RFC becoming Mr Dai Yongge and Ms Dai Xiu Li in May 2017. The Dais have overseen a deterioration in all material affairs of RFC, prejudicing the sustainability of RFC.
(iii) The Dais expressed openness to selling RFC in September 2023 but no sale, or commitment to such a sale, has yet taken place, despite numerous well-publicised expressions of interest.
(iv) The circumstances surrounding RFC’s deterioration, and the lengthy, unsuccessful sale process conducted by the Dais are unclear, with limited information made available to stakeholders in RFC and misinformation rife.
(v) Under the Football Governance Bill, an “Independent Football Regulator” (“IFR”) will assume responsibility for regulation of professional football in England, including in relation to financial sustainability and fan engagement matters.
(vi) An inquiry into the circumstances referenced in paragraph (iv) above would likely identify areas for consideration by the IFR which ought to be taken into account in designing the framework under which the IFR will operate. It will also help identify which stakeholders, past and present, are ultimately responsible for the deterioration of RFC, provide supporters of RFC and other stakeholders with a much-needed explanation for the same, and contribute towards a successful outcome to RFC’s current sustainability crisis. An inquiry can also help us know how to avoid this ever happening again to any other club.
The petitioners therefore request that the House of Commons urge the Culture, Media and Sport Select Committee and the Business and Trade Select Committee to launch an inquiry into the ownership and governance affairs of Reading Football Club since 29 May 2012 on grounds of public interest, with a particular focus on the governance of Reading Football Club since May 2017.
And the petitioners remain, etc.—[Presented by Yuan Yang, Official Report, 10 March 2025; Vol. 763, c. 770.]
[P003051]
Observations from The Parliamentary Under-Secretary of State for Culture, Media and Sport (Stephanie Peacock):
I would like to thank my hon. Friend the Member for Earley and Woodley (Yuan Yang) for raising this issue on behalf of her constituents and the wider supporter base of Reading Football Club. I would also like to thank the Supporters’ Trust At Reading for its continued engagement with the Government on these important matters.
The Government understand and share concerns about the future of Reading FC. Despite the fantastic global success of English football in recent years, we know that irresponsible owners, unsustainable financial models and inadequate regulation have cast a shadow over too many of our clubs. This has significant impacts on the lives of fans and communities. We are pleased that a sale of the club, including its stadium and training ground, appears to be imminent. Any sale needs to be the right one, to the right custodians for that team. It needs to draw a line under what came before and offer a better, more secure future for the club, its fans and the wider community. Until such a sale happens, the situation remains extremely concerning and we urge the current ownership to bring this to an end as quickly as possible.
By introducing the Football Governance Bill and a new independent football regulator we will ensure that issues around financial sustainability within football more generally are addressed for the benefit of fans and local communities. The Bill will introduce new financial regulation to improve the financial resilience of clubs across the football pyramid, as well as put in place statutory owners’ and directors’ tests to make sure a club’s custodians are suitable and protect fans from irresponsible owners.
In the meantime, a shadow regulator has been established and is currently doing the preparatory work required to ensure the regulator is in place as quickly as possible once legislation is passed. Part of this preparatory work has included meeting with fan groups from Reading FC and local MPs to hear their views and to help ensure that lessons are learned ahead of the full implementation of the regulatory regime, as it is set out in the Football Governance Bill.