Couhig buys Reading from Yongge after EFL approval
Troubled League One club Reading FC have finally been taken over by former Wycombe owner Rob Couhig’s Redwood Holdings after the EFL cleared the 100 per cent acquisition.
The deal will see the Dogwood LLC subsidiary take control of the football club, which was plagued with financial issues under former owner Dai Yongge, as well as the 24,000-capacity Select Car Leasing Stadium and Bearwood Park Training Ground.
Reading said: “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 per cent of the shareholding in Reading Football Club.”
American Couhig was the owner of League One rivals Wycombe until last summer, while business partner Trosclair is a lawyer. His business portfolio includes pharmaceuticals, real estate and film, while he also owned the now defunct football side New Orleans Storm
Yongge’s ownership saw the club relegated to the third tier in the English football pyramid. The Royals suffered an accumulative deduction of 18 points and faced a number of transfer embargoes, which have all been lifted.
Reading changes
“Both Couhig and Trosclair will join the club’s board with immediate effect, with Rob Couhig being named as chairman,” the club continued.
“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.”
Yongge and Couhig traded blows during the sale process, which accelerated earlier this year when the Chinese businessman was barred from owning a club by the EFL and given a deadline to sell the club.
Reading finished this League One season in seventh, winning less than half of their games. But they were just three points off finishing in the playoffs, which are taking place this and next week.