Former Reading owner and player Roger Smee’s bid to rescue League One club from brink of crisis REJECTED

Former Reading owner Roger Smee’s bid to save the crisis club from League One 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’ announced on Friday submitted.

But he has confirmed to Mail Sport that it has been rejected by Yongge, leaving Reading fans once again fearful for the future.

Former Wycombe owner Rob Couhig was also close to a deal believed to be worth around £25 million earlier this year, but was rejected.

Smee released a statement saying: ‘After many months of diligently preparing a structured and coherent bid in collaboration with many of the city’s key local stakeholders, I am disappointed that news of my bid has been leaked to the media.

‘I respect the owner and the sales process and wanted my interest to remain private.

‘In response to these allegations in the media, I reluctantly feel I must comment. I confirm that my team submitted a considered offer last week. I believe it competed vigorously with previous proposals that had been entertained and publicly granted exclusivity. At this stage I am not prepared to reveal the details of our offer, again in relation to the owners, their ongoing process, the club and its dedicated fans.

“I confirm that the motivation for my interest is solely the future of Reading Football Club, ensuring that the club continues to play at the highest level and play an integral role in the city’s sporting and cultural community.

“Disappointingly, after over a year of working with a full team, with no public leaks of our efforts, my efforts have appeared in the press. This is not what I wanted and doesn’t help anyone. I regret to inform you that my offer has been rejected.’

Reading, seventh in League One despite the off-field turmoil, plays Cambridge at home on Tuesday.