Gulf entrepreneur Saad Kassis-Mohamed eyes strategic investment in Reading FC

Sudanese-Gulf entrepreneur and philanthropist Saad Kassis-Mohamed, Chairman of Pegasus Air and founder of the WeCare Foundation, has confirmed preliminary discussions regarding a potential investment in English Football League One club Reading FC. No formal offer has been submitted at this stage.

“Reading FC has a loyal fan base and a proud legacy. It’s the kind of club that deserves stability, not speculation,” said Kassis-Mohamed. His approach focuses on long-term sustainability rather than short-term gains, according to representatives familiar with the discussions.

Reading FC currently competes in England‘s third tier and has faced financial challenges in recent years. The club entered administration in 2023 before being acquired by its current owners.

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The English Football League has seen increased international investment in lower-division clubs. Deloitte’s 2024 Annual Review of Football Finance reported a 27% rise in overseas investment in League One and Two clubs since 2022.

However, each potential owner must pass the EFL’s Owners’ and Directors’ Test, which examines funding sources and financial plans.

Kassis-Mohamed’s WeCare Foundation operates education and healthcare programs in several African countries. The foundation’s annual reports show expenditures of approximately $28 million across its initiatives.

Discussions remain at an exploratory phase. Any formal offer would require approval from both the club’s current owners and the EFL.