Reading CEO Dayong Pang has confirmed that Wycombe Wanderers are in a 'period of exclusivity' for the acquisition of Bearwood training ground.

The £50m state-of-the-art facility currently houses the first-team, women's team and academy side in Wokingham.

News broke in the Athletic last night of a deal between the pair as a way of covering the financial shortfall faced by the club this month, causing uproar amongst the fanbase.

ALSO READ: Reading fan group speak out as Bearwood sale leaves club 'on life support'

Releasing a statement this lunchtime, Pang said: "Mr Dai can confirm he is in talks with Wycombe Wanderers Football Club Limited regarding the sale of Bearwood Park. 
"Whilst an agreement is not yet finalised, both parties will move forward with the process exclusively. The proposed transaction will directly support the short-term funding of the club until a full sale can be concluded. Further updates, including possible options for an alternative training facility, will be communicated when appropriate.”

ALSO READ: Wycombe to buy Reading's £50m training ground for CUT PRICE to 'save club'

Currently training at Marlow Road, the Chairboys have been looking for a new development for some time.