THE Thai owners of Reading FC have revealed the takeover by Chinese investors is a long way off completion.

Sumrith ‘Tiger’ Thanakarnjanasuth confirmed the proposed move, which would see the Thais sell 75% of their shares, is hanging in the balance.

Chinese billionaire property developer Dai Yongee and sister Dai Xiu Li already own Beijing Renhe FC and are eager to break into English football.

But their previous attempt to buy Hull City for £130m last summer was thrown out by Premier League chiefs due to a lack of transparency over their financial affairs.

The fear for Reading now is that their own takeover could be blocked for the same reason if they secure promotion back to the top flight through the Championship play-offs.

Tiger explained: “From the beginning of the season, we didn’t aim to get promotion but to stay in the top half of the table.

“We have done better than expected and we are looking to get promotion.

“We know the Premier League have certain terms and conditions. We need to do a lot of understanding on the conditions.

“The buyers need to pass through a lot of fit and proper tests from Premier League.

“I know that they desire European or UK football, that’s what they told us.”

Reading Chronicle:

Chinese property developer Dai Yongee.

Earlier this month Royals co-chairwoman Lady Sasima Srivikorn admitted the Thai owners have been forced to sell up because they can no longer afford to run the club.

However, Tiger insisted that any takeover will be for the benefit of Reading and not themselves.

“We are not looking to sell, we just want to make the club stronger,” he insisted.

“Of course, we need to find a partner who we can work together with.

“We’re not selling the club, we’re not selling just a part of it, we just want to make the club financially stronger.

“We have the figures that we think should be suitable in order to run the club.

“When you love something, you are going to do anything to make it better.”

Tiger also told BBC Radio Berkshire that the number of shares they are willing to sell has not been set in stone, which could open the door to further investment from elsewhere.

“That is still in the negotiations,” he said. “Right now what you see is just the application to the Football League. It is not official, there is still a lot of process going on.”

Reading’s current debt stands at £73m and Tiger insisted the club’s owners are prepared for any possible outcome in the coming weeks, with Jaap Stam’s team on the cusp of securing a play-off spot.

“We have two plans for if we get promotion or if we don’t in terms of players and structure of the club,” explained Tiger.

“But right now we can’t finalise anything because we still have another two games to go.”

Reading need one more point from their final two games to seal their place in the Championship play-offs.

Royals' last scheduled home fixture before the play-offs is at home to Wigan this Saturday (3pm ko), with the Latics needing a victory to stand any chance of staying up.

Reading then go to Burton Albion on the final day of the campiagn.