Wycombe Wanderers have confirmed that ‘parties are moving forward on an exclusive basis’ to secure the acquisition of Reading’s Bearwood Park Training Ground.

The Royals confirmed over the weekend [March 9/10], that they had planned to sell their state-of-the-art complex to raise funds to pay off numerous debts.

If not, the former Premier League outfit would have faced another points deduction. 

It has since been revealed that following talks with their Thames Valley neighbours, a deal is set to be complete and whilst no figure has been confirmed, it has been rumoured around £20m-£25m.

Reading spent approximately £50m on the facility which first opened in 2019.

The statement reads: “Wycombe Wanderers can confirm they are engaged with Reading Football Club in expectation of the purchase of the Bearwood Park training facility.

“Last weekend, the owner of Reading issued a public statement in which he announced that Bearwood Park – owned by Reading - was available for sale.

“Wycombe Wanderers have been working for some years to either substantially upgrade their facility at Marlow Road or move to a facility that would allow for the necessary expansion and enhancements to meet their vision for the future.

“The parties are moving forward on an exclusive basis with the expectation of completion.

“In the interim, Wycombe hopes that if a transaction is completed it will provide Reading with the necessary financial support to ensure that they are able to meet their ongoing financial obligations.

“Further updates will be communicated when available.”

Reading’s Chief Executive Dayong Pang said: "Whilst an agreement is not yet finalised, both parties will move forward with the process exclusively.

“The proposed transaction will directly support the short-term funding of the club until a full sale can be concluded.

“Further updates, including possible options for an alternative training facility, will be communicated when appropriate.”