Exclusive: Reading FC To Conclude Talks With Swiss-Based Chiron Sports Group Soon…

Chiron Sports Group, headquartered in Switzerland, is currently engaged in exclusive discussions aimed at acquiring Reading FC, an English football club facing financial challenges and owned by Chinese businessman Dai Yongge. Over the past years, the 150-year-old club, situated near London, has encountered significant financial difficulties, resulting in penalties totaling 18 points due to violations of football’s financial regulations under Dai’s ownership, leading to its relegation to England’s third tier.

Representatives from both Chiron Sports Group and Reading FC have opted not to provide comments on the matter.

Recently, Reading FC announced that its owner had entered into a letter of intent with a potential buyer for the club, initiating a period of exclusive negotiations to finalize the deal’s terms, with completion anticipated within two months.

Chiron Sports Group, supported by German entrepreneur Christian Angermayer and Robin Lauber, a biotech investor from a Swiss real estate lineage, operates from offices in Basel, Switzerland, and London, under the management of Leo Rifkind, a 32-year-old former director at Charlton Athletic and associate at Freshfields law firm. The company, as indicated on its LinkedIn profile, has connections with Venezia FC, the E1 Series all-electric speedboat racing league, and Enhanced Games, a competition focusing on performance-enhanced athletics.

Reading FC has encountered financial struggles, evident in its recent financial statement ending June 2022, reporting a loss of £17 million ($21.5 million).

Should the acquisition proceed successfully, it would signify another instance of a Chinese investor exiting from the UK football scene. Notably, earlier in February, a health-technology entrepreneur based in Florida reached an agreement to assume control of West Bromwich Albion from Chinese investor Lai Guochuan. This trend of Chinese investors divesting their interests in UK football clubs includes stake sales in Aston Villa, Southampton, and Manchester City, following a shift in Beijing’s stance on conspicuous sports investments abroad.