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ESPN FC  By ESPN staff

Chinese investors Dai Yongge and Dai Xiu Li complete takeover of Reading

Jaap Stam applauds the Reading fans.
Jaap Stam is the manager of Championship side Reading.

Reading have confirmed that the EFL has granted approval for Chinese brother and sister Dai Yongge and Dai Xiu Li to take a majority share in the club.

The investors had been linked with a takeover of Hull in August 2016 but will now be majority shareholders in Reading, despite reported concerns from the Premier League.

Reading, who previously had Thai ownership, could be playing in the Premier League next season after they reached the Championship playoff final with a 2-1 aggregate win over Fulham on Tuesday.

Yongge said on the club's official website: "One of my first priorities will be to visit the development site for the new training ground and we also intend to revisit stadium extension plans with the vision of creating world class facilities at the club."

Chief executive Nigel Howe added: "Dai Yongge and Dai Xiu Li are investing in a club with undoubted potential -- investment which will benefit not only the first team squad, but which will also help to improve the club's training facilities, continue to support its Category One Academy programme and actively assist in delivering plans to develop the Royal Elm Park proposal. We are very pleased to welcome them to Reading."

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