Reading takeover: Club receives EFL conditional approval for takeover

Chinese businessman Dai Yongge failed in an attempt to take over Hull City in September

Championship promotion hopefuls Reading have received conditional EFL approval for their takeover by a Chinese family.

The 146-year-old club have released a statement saying that a "change of control" to allow brother and sister Dai Yongge and Dai Xiu Li to take over has been conditionally approved.

The pair began negotiations with Reading's Thai owners in November.

The Premier League, who have a say in takeovers of clubs who could compete in their league, are said to be cautious.

Yongge failed in an attempt to buy Hull City in September after reportedly not meeting the Football Association's fit and proper persons test.

The club statement released on Sunday evening said: "Upon receipt of a letter on Friday from Shaun Harvey, the Chief Executive of the EFL, Reading Football Club can now confirm that an application for a proposed change of control at the club has been conditionally approved.

"The club will now spend the coming weeks working diligently with the EFL, our current shareholders and both to ensure the application meets those specific conditions and all the relevant EFL regulations."

Reading have been owned by the Thai consortium of Lady Sasima Srivikorn, Sumrith Thanakarnjanasuth and Narin Niruttinanon since September 2014.

The Championship side are fourth in the table with five games to go, although they were hit by six first-half goals in Saturday's 7-1 defeat to outside promotion contenders Norwich City at Carrow Road.