The Daily Telegraph has reported that William Storey, the former sponsor of the Haas F1 team through his company Rich Energy, is attempting to purchase Reading Football Club. However, before completing the deal, Storey will need to pass the English Football League’s ‘fit and proper persons test’, which is a standard procedure for potential club owners.
Reading FC, currently playing in League One, faced financial troubles earlier this year. In June, HM Revenue & Customs filed a winding-up petition against the club. As a result, the team was relegated from the Championship, England’s second tier of football, for this season.
A Struggling Season
With just 11 games played, Reading FC finds itself in the relegation zone of League One. The team’s performance on the field mirrors the challenges it faces off the field. Financial difficulties have undoubtedly taken a toll on the club’s resources and ability to attract new talent. Therefore, the potential acquisition by William Storey could inject much-needed stability and investment into the club.
The Fit and Proper Persons Test
The English Football League’s ‘fit and proper persons test’ is designed to ensure that only individuals of good character and integrity become involved in the ownership and management of football clubs. The test evaluates various aspects of a person’s background, including their criminal record, business history, and financial standing. It aims to protect the interests of the club, its employees, and fans from any potential misconduct or mismanagement.
If Storey successfully passes the fit and proper persons test, he could proceed with acquiring Reading FC. This would open up new opportunities for the club to regain stability, rebuild its reputation, and lay down foundations for future success.
A New Chapter for Reading FC?
Reading FC’s potential acquisition by William Storey represents a turning point for the club. With fresh investment and the possibility of new leadership, the team could embark on a journey towards rejuvenation.
Although uncertainties still surround the deal, the club’s fans and players will be hoping that new ownership will bring a renewed sense of optimism and progress. Time will tell whether this takeover bid is successful and how it will shape the future of Reading Football Club.