Former Reading owner Roger Smee’s bid to rescue the League One crisis club has been rejected.
Smee, who played for the Royals in the 1960s and was a popular chairman in the 1980s, had put together a local consortium hoping to convince Dai Yongge, the club’s current owner, with a ‘competitive bid’ tabled on Friday.
But he has confirmed to Mail Sport it has been rejected by Yongge leaving Reading fans fearing once again for the future.
Former Wycombe owner Rob Couhig was also close to a deal thought be worth about £25million earlier this year only to find the bid rejected.
Smee has released a statement to say: ‘After many months of diligently preparing a structured and connected bid in alliance with many of the town’s key local stakeholders, I’m disappointed that news of my bid has been leaked to the media.
‘I am respectful of the owner and the sale process and wanted my interest to remain private.
Former Reading owner Roger Smee’s bid to rescue the League One crisis club has been rejected
‘In response to these claims in the media, I reluctantly feel I have to comment. I confirm that my team submitted a carefully considered bid last week. I believe it was firmly competitive with previous proposals that had been entertained and publicly granted exclusivity. At this stage, I am not prepared to divulge the details of our bid, again in respect of the owners, their ongoing process, the club and its dedicated fans.
‘I confirm the motivation for my interest is solely the future for Reading Football Club, ensuring it continues to play at its highest level, playing an integral role in the town’s sporting and cultural community.
‘Disappointingly, after more than a year of a full working team, with no public leakage of our efforts, my efforts have appeared in the press. This is not what I wanted and helps no one. I am equally sad to tell you my bid has been rejected.’
Reading, seventh in League One despite the off-field turmoil, are at home against Cambridge on Tuesday.
