READING Town FC ​is up for sale with an asking price of around £40,000.

Major shareholders Battersea & Wandsworth Trade Union Council (Trading) have confirmed they are looking to sell the Hellenic League club.

Originally, they would have had to give the other shareholders first refusal to purchase a larger interest in the club, but the constitution was changed at an extra-ordinary meeting last Friday and now the shares are on the open market.

BWTUC are now in the process of trying to find a buyer for a club in desperate need of a major overhaul.

Three years ago, under the leadership of Roland Ford, they were among the strongest and best-run clubs in the Premier Division. But the last two seasons have seen a rapid decline in their fortunes.

Without a league win since last January, they were relegated last season and now find themselves at the bottom of Division One East without a point.

Although it is believed they have more than 20 shareholders, only three were represented at last Friday’s meeting at the Scours Lane.

They included Stan Bembenek, the club’s former financial director. He was there representing another shareholder, having previously ​given away his own shares to the BWTUC.

He is, however, still looking to be paid back the £8,800 he loaned to the club. Bembenek believes much of Town’s problems are down to the fact that the current owners have little or no knowledge of the day-to-day runnings of a football club.

Chief executive officer Natalie Newby’s interest appears minimal and she considered closing the club down ​more than once ​last season when there was a major dispute between the owners and players over the payment of expenses.

Bembenek added: “It was made clear at the meeting that they [BWTUC] definitely want to sell and I don’t think I am alone in thinking that would be the best move for the club.

“It is sad to see where the club is at the moment, but there is potential there and opportunities for a new backer to get it back on its feet.” ​

Newby ​said at the meeting that the BWTUC are looking for the right companies to take over and they have already had some interest.

​BWTUC are looking to recoup the £40,000 they claim they have put into the club.​
Town’s problems on the field continued last Saturday when they slumped to a 4-1 defeat at home to Holyport.

They went a goal down inside the opening minute with Ryan Tye turning home a Dale Wright cross.
Only the crossbar denied Town an equaliser before Tye doubled his side’s lead with a header from a Wright centre.

The home side deservedly pulled a goal back through a fine header from Abdul Ally which went in off the post.

Both sides went close to scoring before Holyport made it 3-1 on 50 minutes when Wright rounded off good work by Adam Wyatt.

Paul Rake added the fourth late in the game, taking advantage of hesitancy in the Town defence.
Town are without a fixture this weekend and return to action on September 5 with a FA Vase clash at Shrivenham.