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The protracted sale of Reading is "nearing a much-needed conclusion," according to the League One club.

The Royals have been handed a number of sanctions by the English Football League, contributing to their Championship relegation last year.

The Berkshire club's current owner Dai Yongge announced in September he was open to "credible" offers.

"Right now, everything is unbelievably difficult," said Mark Bowen, Reading's head of football operations.

"Daily operations at the club continue to be hamstrung by cashflow problems, the search for new owners is encouraging but naturally time-consuming.

"We are in constant discussion, negotiation and engagement with an encouraging number of individuals who, we believe, are all capable of making viable takeover bids.

"It is very difficult to speculate on the timescales involved, but I am very positive that this process is now nearing a much-needed conclusion."

Bowen confirmed this month's wage bill had been paid, along with the club's tax debts, meaning their latest winding-up petition and transfer embargo has been lifted.

However, Reading will not be able to pay any kind of fee for players in the next three transfer windows, as a result of their previous rule-breaking.

And the still club face a disciplinary commission later this month, for their previous late payments to HMRC.

"No precedent has been set for these rule breaches, so I can't responsibly tell supporters what to expect from the outcome of that hearing," Bowen added to the

The performance of manager Ruben Selles is also under scrutiny, with the Royals languishing at the foot of the table with 10 defeats and only three wins from their 15 games.