Ex-wycombe Owner Couhig Agrees Reading Takeover

Former Wycombe Wanderers proprietor Rob Couhig has finalised an statement to bargain Reading, ending nan arguable reign of erstwhile proprietor Dai Yongge.

The transaction includes Yongge's shares of nan Royals, nan Select Car Leasing Stadium and Bearwood training ground.

Couhig's imminent presence will bring to an extremity a tumultuous play nether Yongge, who became a majority shareholder of nan nine successful 2017.

Following nan statement nan English Football League (EFL) has extended its deadline for Yongge to divest his shareholding until its adjacent committee gathering connected Thursday, 8 May.

In a statement, nan League One nine said that they were "pleased to denote nan waste successful rule of nan club" to Couhig's Redwood Holdings Limited.

"The general completion of nan transaction is taxable to last ineligible technicalities but is afloat expected to beryllium completed shortly," the nine said., external

Reading were docked six points for financial issues past play arsenic they vanished 17th successful League One.

Those financial difficulties besides saw nan club's women's broadside - a Women's Super League outfit arsenic precocious arsenic May 2023 - retreat from nan Championship successful June, and they now compete successful nan 5th tier.

In March, Yongge unsuccessfully tried to unafraid an injunction against Couhig arsenic he claimed nan American businessman was blocking his attempts to waste nan club, thing that Couhig denied.

At that proceeding it emerged that Yongge had been given a deadline to sell nan nine aft being disqualified nether nan EFL's owners' and directors' test.

Throughout that clip nan Royals had been successful a play of exclusivity pinch different unnamed imaginable buyer, but connected 9 April they announced that play had elapsed and an "alternative bidder" was being spoken with.

Couhig had already attempted to bargain Reading but nan erstwhile deal fell through successful September 2024 aft a breakdown successful negotiations.

Yongge and sister Dai Xiu Li completed their takeover of Reading successful May 2017 conscionable days earlier nan nine lost nan Championship play-off last connected penalties to Huddersfield Town.

That proved to beryllium nan precocious constituent of their clip successful complaint of nan Royals.

A seventh-placed decorativeness successful 2020-21 was Reading's only top-half convention decorativeness nether Yongge arsenic financial problems began to bite.

They were first deducted six points by nan EFL for breaching profit and sustainability rules successful November 2021.

A further six-point punishment followed successful April 2023 for failing to comply pinch nan position of an agreed business scheme for nan erstwhile breach, contributing to their relegation from nan Championship astatine nan extremity of that season.

The nine were placed nether a bid of transportation embargoes, and were deducted a further six points past play for a operation of failing to salary wages and a taxation bill connected time.

In total, Reading were deducted 18 points nether Yongge's ownership.

Fans carried retired a bid of protests past season, including throwing tennis balls connected to nan transportation astatine matches, and their location crippled against Port Vale successful January 2024 was abandoned aft hundreds of supporters invaded nan pitch.

The club's financial problems saw Yongge make cuts and put nan nine up for sale, which besides impacted nan women's side.

In announcing nan women's team's withdrawal from nan 2nd tier, Reading said that maintaining nan club's position was "just not imaginable without important proprietor funding".

Couhig is nan erstwhile proprietor of Reading's rivals Wycombe Wanderers and US broadside New Orleans Storm.

The 75-year-old is an American lawyer who has been progressive successful a immense number of businesses crossed fields specified arsenic existent estate, film, disaster recovery, logistics and pharmaceuticals.

Couhig has besides been progressive successful authorities arsenic a Republican run head for erstwhile State representatives Garey Forster and Sam LeBlanc, and served arsenic a run co-ordinator for US Representative Bob Livingston.

He besides doubly stood unsuccessfully for predetermination arsenic politician of New Orleans.

In March 2024, Reading announced that they were successful discussions pinch Couhig's erstwhile nine Wycombe to acquisition their Bearwood Park training facility.

That woody yet came to nothing, pinch Wycombe alternatively moving their training guidelines to Harlington, westbound London.

During Couhig's clip pinch Wycombe, nan Chairboys were promoted to nan 2nd tier of English shot for nan first clip successful their history successful 2020, though their enactment successful nan Championship lasted only 1 season.

BBC Radio Berkshire's Reading commentator Tim Dellor

At last! Reading fans person sewage done nan past mates of years of turbulence and aft a mates of aborted landings, person yet touched down connected nan runway, successful sunnier climes.

The nightmare that has been nan Dai Yongge era is down them and now location is simply a spot much certainty astir what nan early has successful store.

Winding-up petitions, administration, unpaid wages and points deductions should beryllium a point of nan past.

It will return years for nan nine to afloat retrieve from nan effect of nan Chinese businessman, whose tenure has seen nan men’s squad relegated to League One, a lengthy transportation embargo imposed, nan complete dismantling of nan women’s squad pursuing relegation from nan Championship, and a agelong database of different important issues.

However, let’s observe nan heroes successful this sorry tale.

The managers successful charge, unit and existent squad person been honorable and master passim and person stuck to their task admirably.

Above each nan fans, immoderate of whom were noisily progressive successful a transportation penetration during a crippled past season, and immoderate of whom much softly supported from nan sidelines.

Many went connected protestation marches, threw tennis balls, dressed up arsenic clowns, stood up and chanted aft 18 minutes of each crippled (representing nan number of points docked nether Yongge’s tenure) aliases bombarded societal media pinch passionate views and suggestions. Reading sewage angry, and it worked.

Yongge is nary longer proprietor and everyone connected to nan nine will beryllium celebrating that.

For Reading fans a awesome weight has been lifted. The gloom has fixed measurement to sunshine.