American businessman Rob Couhig has officially completed his purchase of Reading Football Club from Dai Yongge.
It has taken almost two years for the club to complete a takeover with the fans having to endure a horrendous saga on top of Dai Yongge’s dreadful reign at Reading.
It was announced last Saturday morning that a deal had been agreed in principle, but that deal has now been fully completed.
Couhig’s purchase of the club includes the acquisition of Dai Yongge’s shares, the Select Car Leasing Stadium and Bearwood Park Training ground.
Fans can finally look forward to an optimistic future having seen the club plagued by financial issues in the past two years.
Couhig owned fellow League One side Wycombe Wanderers for five years before he sold his shares in the club last summer.
A statement from Reading FC reads: “The Club are pleased to announce that Redwood Holdings Limited – a subsidiary company of Dogwood LLC, owned by Rob Couhig and Todd Trosclair of New Orleans, Louisiana – has completed the acquisition of 100% of the shareholding in Reading Football Club.
“The takeover, which has received EFL clearance, completed very early on Wednesday morning and includes the Select Car Leasing Stadium and Bearwood Park Training Ground.
“Both Couhig and Trosclair will join the club’s board with immediate effect, with Rob Couhig being named as Chairman.
“Rob is an investor, lawyer and entrepreneur who is the former owner of Wycombe Wanderers Football Club and the New Orleans Zephyrs – his hometown baseball team. Todd is the owner of All Star Electric, one of the largest and most respected electrical contractors on the USA’s Gulf Coast, and a successful investor within the real estate and hospitality sector. He is also the founder of the All Star Foundation which contributes to various charitable initiatives.
“Redwood is ambitious and dedicated towards the club returning to its rightful place within the English football pyramid, while adhering to clear principles of honesty , transparency, and financial sustainability. Further communication from Redwood will follow in due course.”
