Crisis club Reading have been handed a boost after owner Dai Yongge confirmed plans for a takeover have stepped up.
The Royals announced in a statement that any deal would include the sale of the club's training ground - just weeks after Wycombe Wanderers held talks to buy Bearwood Park.
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It has been stated that Yongee and the preferred bid have now entered a period of exclusivity.
A statement released by the club read: "The Club can confirm Mr Dai has committed to a letter of intent with a potential purchaser of Reading Football Club.
"The parties will now enter a period of exclusive negotiation to agree the final terms.
"The completion is expected to take up to two months, at which time the purchaser will be announced.
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"The transaction would include the transfer of Mr Dai’s shareholding in The Reading Football Club Limited, as well as the Select Car Leasing Stadium and Bearwood Park training ground.
"The club will communicate with further updates when appropriate."
The news will come as a much-needed boost to Reading fans following Yongee's plans to sell their state-of-the-art training facility to League One rivals Wycombe.
The deal to sell their training ground, was set to be worth £25million despite it costing £50m to build, leading to peaceful protests on Friday night outside Wycombe's stadium.
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That decision was also slammed by talkSPORT's Simon Jordan, with the former Crystal Palace owner labelling it as an 'appalling' move.
Yongge has served as Reading’s majority owner since 2017, but his tenure has been marred by serious financial issues.
The former Premier League side have been hit with a raft of points deductions, including a six-point sanction this season alone.
They have had deductions totalling 18 points since 2021, with a further two suspended.
Simon Jordan clashes with Reading fan Paul Mann over their recent protest on the pitch at the Madejski Stadium
Protests against the owner have also increased in recent months, with Reading's game against Port Vale postponed in January after the home fans invaded the pitch.
The Royals are currently 18th in League One, six points off the relegation zone following their fall from the Championship last term.