Reading owner Dai Yongge must either “fund the club adequately” or “make immediate arrangements to sell”, the English Football League has said.
The Chinese businessman has been fined a further £50,000 for failing to meet financial deadlines over wages.
Royals fans forced the abandonment of Saturday’s League One match with Port Vale in protest at Dai’s ownership.
The EFL said it will discuss the pitch invasion at a board meeting later this week.
“It has in recent months become increasingly clear that Mr Dai Yongge is no longer in a position – or does not have the motivation – to support the club financially as he did following the change of control in 2017,” the EFL said.
“The league will now consider all available options it has under the regulations and will have no hesitation in bringing further charges against Mr Dai.
“In the meantime, and for the sake of the future of Reading FC, its staff, supporters, and local community we urge Mr Dai either to fund the club adequately or to make immediate arrangements to sell his majority shareholding to appropriate new owners so everyone can move forward with renewed optimism.”
Dai’s latest fine – taking the total issued to him to £80,000 – comes after he failed to meet last Friday’s deadline to deposit 125% of the total staff wage bill to a registered account, meaning he has now been in default for nearly four months.
When Dai was fined £20,000 last month, the EFL had recommended he be banned from all football activity for 12 months, but an independent disciplinary commission opted against enforcing it.
“His continued failings mean that once again the club’s hard-working staff have no reassurance as to payment of wages and demonstrates a clear disregard for his obligations as a director of the club,” the EFL added.
The league says it will meet with Royals supporters’ groups across Monday and Tuesday, and reiterated its desire to work with Dai and any potential purchasers to “bring an end to this difficult period for all parties”.
The EFL described Saturday’s pitch invasion as “unfortunate”, adding that though it “demonstrated the impact the current situation is having on everyone associated with the club”, entering the field of play is a criminal offence.
