Reading FC under new ownership as Couhig finalises deal to buy Royals

Reading FC are finally under new ownership after the former Wycombe Wanderers owner Rob Couhig finalised an agreement to buy the Royals and bring an end to the controversial reign of previous owner Dai Yongge.

The deal for the club includes Yongge's shares of the Royals, the Select Car Leasing Stadium and Bearwood training ground.

Reacting to the news, Ian Morton from the ‘Sell Before We Dai’ protest group said it was a day ‘for celebration’ and thanked Couhig for saving the ‘153-year-old club from oblivion’.

In a statement, the League One club said that they were "pleased to announce the sale in principle of the club" to Couhig's Redwood Holdings Limited.

"The formal completion of the transaction is subject to final legal technicalities but is fully expected to be completed shortly,"

Yongge’s eight-year tenure as the majority shareholder at Reading has been blighted by controversy. Reading were docked six points for financial issues last season as they finished 17th in League 1.

The club’s financial problems also saw the club’s women’s team - a Women’s Super League outfit as recently as May 2023 - forced to withdraw from the Championship and they are now looking to build back up from the fifth tier.

The club have been placed under several transfer embargoes during Yongge’s tenure and in total have been deducted 18 points during his period of ownership. Fans carried out a series of protests in a bid to force him to sell. They threw tennis balls onto the pitch at matches and forced the abandonment of their home game with Port Vale in 2024 after a mass pitch invasion.

In recent months it emerged Yongge had been given a deadline by the EFL to sell the club after being disqualified under the EFL’s owners and directors’ test.

Throughout that time, the Royals had been a period of exclusivity with another unnamed buyer, but on April 9, it was announced that period had elapsed, and an alternative bidder was being spoken with.

Couhig had already attempted to buy Reading, but the previous deal fell through in September 2024 after a breakdown in negotiations.

Reading failed to make it into the League 1 play-offs on Saturday as they were beaten 4-2 at home by Barnsley in front of 21,481 fans at the Select Car Leasing Stadium. Leyton Orient's 4-1 win at Huddersfield meant it was the Londoners who finished sixth and took the final play-off slot.

In a statement titled ‘Sold Before We Dai’d’, Ian Morton of the protest group said: “We are incredibly relieved and happy that Reading Football Club are finally under new ownership. It’s a day which we thought, at times, may never happen.

“In the eight years of the Dai Yongge era, every single element of our club went backwards. The first team were relegated, the women’s team were essentially folded, and staff were made redundant as every operational element of the club was cut back to the bare bones. Those who remained were forced to work with tight budgets and under immense pressure. Sometimes they weren’t even sure if they’d be paid at the end of the month.

“Today is a day for celebration and that starts by welcoming Rob Couhig. Thank you for not giving up on us, thank you for saving our 153-year-old club from oblivion.

“While Wycombe Wanderers owner, the Bearwood fiasco saw him come into direct conflict with our powerful, passionate fanbase, culminating in the training ground remaining under Reading's control (we imagine he’s quite grateful for that now!). Rumours of his views on both the academy – the jewel in our crown – and women’s team have also left some fans unsettled.

“However, the training ground issue is now in the past and Couhig should now be judged by his actions as our owner, not by rumours which arose while he was trying to buy the club.

“Some of these actions are already plain to see. The takeover process has been tortuous and – at times – ill-tempered. We know several bidders came and went, but Couhig remained, and for that alone we are incredibly grateful. He was determined, dogged and incredibly savvy. Having someone with those qualities in your club’s corner can only be a good thing and it is also worth stating that Wycombe Wanderers fans say he left them in a better place.

“There is also evidence of the ‘soft skills’ that football fans want to see from their clubs’ owners. A willingness to engage with supporters, a desire to be present, visible and accountable to local media and, of course, to have a few drinks in the Purple Turtle.

“Reading fans are now excited to hear in an open forum from Couhig about his plans. Our gratitude is immeasurable but cannot be unconditional. We are under no illusions that steps will need to be taken to undo the damage Dai has done to this football club, but we hope Couhig runs Reading transparently, prudently, in collaboration with Reading fans and with regard for the club’s identity.

“As for Sell Before We Dai, we are done. We will keep social media channels open and will always be willing to help support fans of other clubs in need, but the whole point of being in a protest group is to get to a point where you’re no longer needed, and that’s where we are. Work on the Football Governance Bill and all other fan-led, owner-related activity will roll into STAR. If you want to get involved, don’t hesitate to join. As we’ve seen, there is power in numbers.

“Lastly, this was the first time most of us have been involved in a campaign group and, though we know we didn’t get everything right, we hope we represented Reading fans' interests as best we could. A full list of thank yous to everyone who helped our club’s campaign will be coming soon.

“We’ve been sold before we Dai’d.”