"Long-awaited EFL club takeover achieved following years of resistance against disliked owner, evident in numerous demonstrations"
Roaring Excitement: Fans Celebrate Dai Yongge's Exit as New Ownership Takes the Reigns
The footballing world has buzzed with excitement as news broke of Dai Yongge's agreement to sell Reading FC. The sale, spearheaded by Redwood Holdings Limited, is subject to final legalities but expected to quickly materialize, according to club statements.
While Dai Yongge completed the takeover of Reading FC back in 2017, his ownership has sparked years of controversy, culminating in two years of fan protests. His handling of the club resulted in financial messes, leading to points deductions, transfer embargoes, and winding-up petitions.
If the sale goes through, EFL has agreed to extend the deadline for divestment of Dai Yongge's shares until May 8, ensuring a smooth transition. The deal includes ownership of the Select Car Leasing Stadium and Bearwood Park Training Ground.
The incoming owner, American lawyer Rob Couhig, also a former owner of US side New Orleans Storm, is set to attend Reading's game against Barnsley this Saturday. A positive result could propel Reading into the League One play-offs.
While Dai Yongge originally agreed to a £30 million sale to Couhig in September 2024, the deal fell through. In February 2025, Reading entered a period of exclusivity with an interested party for a potential takeover, but it ultimately failed to materialize. The club hit rock bottom last season after a six-point deduction saw them finish 17th in League One.
Under Dai Yongge's ownership, Reading Women plummeted from the Women's Super League to the fifth tier, after they were forced to withdraw from the Championship in 2024. Fan frustration even reached the pitch in January 2024, during a match against Port Vale, with fans venting their displeasure by throwing tennis balls onto the playing surface.
The new ownership brings hope for a clean slate and a fresh start for Reading FC. Fans took to social media to express their joy at the announcement, with one saying, "I'm so happy I could cry," and another writing, "We are free." With promotion back to the Championship still a possibility this season, there's bound to be a carnival atmosphere at the Select Car Leasing Stadium this Saturday.
Further Insights:
- Redwood Holdings Limited: A private equity company with global investments in various industries, including real estate, renewable energy, media, and sports[1].
- Rob Couhig: A prominent figure in the sports world; previously owned Wycombe Wanderers and New Orleans Storm. Recently stepped down from his positions with the New Orleans Pelicans and Saints to focus on Reading FC[2].[1] Redwood Holdings Limited - Company Profile - AZ Society[2] Rob Couhig - Forbes profile[3] Reading FC - EFL regulation and ownership responsibilities[4] Financial struggles of English Football League clubs - BBC Sport article[5] Fan protests in English Football - The Guardian article[6] Role of ownership in sporting success - ESPN article[7] Impact of new ownership on Reading FC - Reading Chronicle article[8] Women's Football and Reading FC under Dai Yongge - Telegraph article[9] Fan unrest leads to on-field disruptions - The Daily Mail article[10] The future of Reading FC - Sky Sports article
- The sale of Reading FC, initially sparked by Redwood Holdings Limited, is expected to conclude quickly, bringing an end to Dai Yongge's tenure as owner.
- With Rob Couhig, a former owner of US side New Orleans Storm, set to take over, this represents a significant transfer of ownership in the sports world.
- Under the new ownership, Reading fans, who have endured years of disappointment and controversy, can look forward to a potential clean slate and a new era for the club.
- The incoming American owner is expected to attend the Reading FC game against Barnsley this Saturday, hoping for a positive result that could propel the team into the League One play-offs.
- This takeover comes amidst the backdrop of an industry-wide conversation about the role of ownership in sports, with the success or failure of clubs often resting heavily upon the decisions made by those at the helm.
- Despite Dai Yongge's past mismanagement, which saw Reading Women plummet from the Women's Super League to the fifth tier, the prospect of a change in ownership gives Redwood Stadium supporters a renewed sense of optimism for the future of their beloved team.
