Reading have announced that Chinese investors Dai Yongge and Dai Xiu Li have officially completed their takeover of the club.

The EFL has granted approval for the pair to become majority shareholders of the Championship outfit, while the existing shareholders will now have minority stakes.

A statement on the club's official website read: "We would like to thank every one of our loyal fans for their patience and continued support over recent months whilst the new ownership structure has been finalised – a structure which ensures the future financial stability of the club and will enable the club to move to the next level, both on and off the pitch.

"The Dai family are extremely excited about the future of Reading Football Club and would like to take this opportunity to thank all of the club's players and staff for their hard work so far this season. It is an exciting time to be a Reading fan."

Dai said: "One of my first priorities will be to visit the development site for the new training ground and we also intend to revisit stadium extension plans with the vision of creating world class facilities at the club."

Reading could be playing their football in the Premier League next season as they are due to compete in the playoff final after beating Fulham across two legs.