Allied Presentations signed a 99 year lease with Reading Council in 1974 for the Smallmead land, as already stated for whatever reason a new shorter lease was agreed at some point between council and Allied (under the stewardship of the Dore family). I assume for a cheaper rent
In 2001 Allied sold out to Gaming Intl who spent a few quid on stadium bars to bring them up to H&S standards! In 2008 council didn’t offer an extension to short term Lease and sold Smallmead site, a new piece of land (close to existing site a former MX track) was offered several years before that to GI who gained planning permission to build a racino (speedway, dogs and Casino) of course surprise surprise it never happened and eventually the council sold that piece of land off for industrial use.
The original Smallmead site lies barren but for match day football parking
a lot of people have a lot to answer for - but prospects for speedway in town are about as close to zero as you can get.