German businessman Daniel Loitz took to social media to defend his rumoured bid for Reading Football Club.

News broke via Sky Sports that Mr Loitz was interested in acquiring the club, with experience of reviving women's football teams.

Sky Sports states that his bid of around £28m would include the stadium, training ground and both men's and women's teams but is currently hearing 'radio silence' from owner Dai Yongge.

However, the Reading Chronicle is told that no deal progressed past talks in January when required documentation was not forthcoming.

Offers are being weighed up by Yongge and a the club are hopeful that a decision can be made within the next 24-48 hours.

Taking to social media, Mr Loitz said: "I would like to address Reading fans in particular and everyone who has a heart for the community.

"The truth will always remain the truth and therefore you can speak it without feeling guilty. My grandfather, who came to Great Britain in 1997 and loved and admired this country, always appreciated one thing in particular and that was the way business was done here. Known as the so-called “gentleman process”. I inherited his fortune & values from him.

"So what if you want to carry out a transaction but the other side doesn’t want a “gentlemanly process”? Then you still remain true to your values and respect the people who only want the best in this process and behave like gentlemen.

"The fact is that 28.7 million pounds were offered for three assets and the funds were confirmed as free and available with a proof of funds. Representatives of mine and myself were also prevented from making a formal application to the EFL despite this being the normal process. To make it clear, at the request of the other side. This was respected. Of course we will approach the EFL formally.

"There are only two things to say about my history in business and the topic of "Loitz Stiftung Ltd" (Limited by guarantee) and the "Compulsory Strike off" and that was initiated by me against my own family because no agreement could be reached in the members board for months about my assets (74.1% ) to release them. This is public record. I remain open and transparent.

"For months I have been in constructive discussions about bringing back the Rugby Club "London Irish" and bringing this unique club back to the community in and around London and Reading. But this can only be done with sustainability and an understanding of “Who or what do we want to be”?

"Identity is the be-all and end-all in sport and not a desperate attempt to portray something that you are not and never will be and then go into a race for silverware. London Irish could be a reliable tenant at Reading Stadium and our expertise in women's football could significantly reduce a deficit for Reading Football Club in their women’s football department In the end, it's about igniting synergies and a new euphoria. We are all a sport community."

London Irish had previously ground shared at the SCL Stadium from 2000 until 2020 when they moved to Brentford.

However, Irish are now in administration and currently do not play professional rugby.