Reading was defeated in their attempt to make it to the League One play-offs as they were beaten 4-2 at home by Barnsley.
The Royals had to outperform Leyton Orient's result on the final day of the season to clinch the sixth position.
However, a loss to Barnsley and Leyton Orient's 4-1 victory against Huddersfield meant that the London team claimed the last play-off berth.
The first half at the SCL Stadium was messy and ended without any goals, but Barnsley took control after the break with Stephen Humphrys and Jon Russell scoring in quick succession.
Lewis Wing pulled one back for Reading in the 67th minute, but Davis Keillor-Dunn scored in the 79th and 85th minutes, adding to his season tally of 19 goals, to seal the victory for Barnsley.
A late goal from Billy Bodin was only a consolation for Reading.
Reading has dealt with financial struggles off the pitch throughout the season under the ownership of Dai Yongge, but they seem to be in a better position now.
The Berkshire club confirmed on Saturday that the takeover by Rob Couhig, a former Wycombe owner, would be finalized soon.
With Couhig observing from the directors' box, Reading started positively with early chances from Wing.
Barnsley's goalkeeper Joe Gauci made a good save from Wing's shot and later saw his free-kick narrowly miss the target.
Barnsley capitalized on the opportunities they got, with Joel Pereira denying Barry Cotter's attempt for the visitors.
Reading's attacking play lacked cohesion, and with Orient leading 2-1 at half-time, their hopes of a play-off spot dwindled.
Barnsley extended their lead through Humphrys and Russell in the second half, putting the game out of Reading's reach.
Despite Wing's goal and a late effort from Bodin, Reading's commendable season ended on a disappointing note.