Dai Yongge's attempts to sell Reading are stymied by an undisclosed £55m debt to a Chinese bank, threatening the club's future and ownership.
Haitong International Securities has the right to take ownership of Reading's stadium if the debt remains unpaid, complicating ongoing sale negotiations for the club.
Haitong effectively blocked the sale to Rob Couhig by utilizing a stop notice in the British Virgin Islands, revealing the serious implications of undisclosed debts.
The EFL was unaware of the looming debt during discussions, raising concerns about governance and the political implications of a foreign-backed ownership.
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