"I would like to thank the club's owners, Mr Dai and Ms Dai, and my senior management team for their tremendous support during a challenging period for the club – and I wish the manager, his coaching staff and the players every success for the remainder of this season and beyond."

Reading said the club's owners were now searching for a replacement, who would be "focused on continuing to grow the business and driving this club forward both on and off the pitch".

"Mr Yongge Dai and Ms Xiu Li Dai would like to thank Royals fans for their patience during this process and their continued loyal support and passion for this football club," Reading added.

Chinese brother and sister Dai Yongge and Dai Xiu Li became Reading's majority shareholders when they bought a 75 per cent stake from the club's previous Thai owners.

Reading are currently 20th in the Championship.

ga('create', 'UA-72310761-1', 'auto', {'name': 'pacontentapi'});
ga('pacontentapi.set', 'referrer', location.origin);
ga('pacontentapi.set', 'dimension1', 'By Press Association Sport staff');
ga('pacontentapi.set', 'dimension2', 'd7c2f89a-8999-4fd9-a01f-8865c90b26f1');
ga('pacontentapi.set', 'dimension3', 'paservice:sport,paservice:sport:club-news,paservice:sport:football');
ga('pacontentapi.set', 'dimension6', 'story');
ga('pacontentapi.set', 'dimension7', 'composite');
ga('pacontentapi.set', 'dimension8', null);
ga('pacontentapi.set', 'dimension9', 'sport:football');
ga('pacontentapi.send', 'pageview', { 'location': location.href, 'page': (location.pathname + location.search + location.hash), 'title': 'Ron Gourlay steps down as Reading chief executive'});