‘We had conversations’ - Mike Ashley latest as former Newcastle United owner flirts with football return

Reading director Nigel Howe has revealed Mike Ashley had discussions about buying the club at the back end of last year.

A nightmare few years at the SCL Stadium has led to the Royals being on the brink of back-to-back relegations. Chinese businessman Dai Yongge has overseen an era of mismanagement at Reading, with the EFL deducting 12 points over the last two seasons.

The second six-point deduction led to relegation last year and the club are now teetering on the edge of another catastrophic campaign. EFL bosses recently charged Yongge for repeatedly failing to deposit 125 per cent of the club’s monthly wage bill into an account after players were not paid on time.

Former Newcastle United owner Ashley has been waiting on the sidelines - as have seven other potential bidders - during the lengthy takeover process. There are suggestions Ashey believes he has unfinished business in football following his failures on Tyneside.

The Sports Direct tycoon was rumoured to be interested in Derby County during their financial meltdown but administrators chose local property developer David Clowes instead. Speaking to BBC Radio Berkshire, Reading chief Howe confirmed the Royals held talks with Ashley about a possible takeover.

"We had a couple of conversations with Mike’s people six or seven weeks ago,” Howe said. "That is when we were really looking around to see what opportunities were.

“None of those came to anything because, at the time, it looked like the club wasn’t being funded properly and Mr Dai was desperate to sell. We’ve gone into a much more transactional process now where we’re talking to people in a proper way. At this stage, Mr Ashley’s people haven’t revisited."