Ex-Newcastle owner Ashley (and Pardew) launching Reading takeover

Former Newcastle United owner Mike Ashley is eyeing a move for Reading.

Alan Nixon is reporting Ashley is preparing a bid for the cash-strapped Royals and is in contact with former Magpies manager Alan Pardew about a role. Pardew represented Reading as both a player and manager.

Reading owner Dai Yongge is looking to sell after six years, with thousands of fans marching to protest against him ahead of Saturday's defeat to Portsmouth.

The Reading Chronicle reports two Frasers Group helicopters landed at the SCL Stadium on Sunday morning, with representatives of both parties holding discussions over a takeover.

Reading sit bottom of the League One table, with just three wins recorded from their opening 14 matches.