Highlights

  • William Storey, best known for co-founding Rich Energy, has agreed to buy struggling League One side Reading for around £50m, clearing the club's debts in the process.
  • The takeover still needs to be approved by the Football League's fit and proper owners test, which will require Storey and his backers to disclose relevant information.
  • Reading fans have mixed feelings about the takeover, as Storey's history raises doubts about his suitability. However, there is hope that additional investment will support the playing squad.