A consortium backed by Chiron Sports Group visited Reading FC on Friday, as the investor group zeroes in on a deal to buy the embattled English football club from Chinese real estate executive Dai Yongge, according to people familiar with the matter.
Chiron’s Leo Rifkind met Friday with executives of the third-division club to discuss a potential deal, the people said, asking not to be identified because the information is private. He was joined by a representative for one of Chiron’s partners in the deal, a US West Coast investor who’s actively involved in US major league sports ownership, according to the people.
Representatives for Chiron and Reading FC declined to comment.
Last week, Reading FC confirmed that Dai had committed to a letter of intent with a potential purchaser of the club and was entering a period of exclusive negotiations. It didn’t name the suitor.
Reading FC ranks 18th in EFL League 1, the third division of English football, just above the last four spots that would see the team relegated to the lower league. It has been docked 18 points for breaking football’s financial rules under Dai’s ownership, contributing to its demotion into England’s third tier.
Failure to clinch a deal with the Chiron consortium may risk a further point deduction for the 150-year-old English football club, which is based about 45 miles west of London.