‘I could cry’ – EFL club finally sold after years of protests against unpopular owner ...Middle East

Reading fans rejoiced on social media after it was announced that unpopular owner Dai Yongge has sold the club.

The Royals have been bought by Redwood Holdings Limited, who are represented by ex-Wycombe Wanderers owner Rob Couhig, subject to final legal technicalities.

Couhig is set to become the new owner of ReadingGetty

For more than two years, Reading fans have staged protests against Yongge, who has been trying to sell the club since October 2023.

The Chinese businessman completed his takeover of the club in 2017, days before Reading were beaten in the Championship play-off final.

Since then, the club has spiralled amid a period of financial mismanagement, resulting in points deductions, transfer embargoes and winding-up petitions.

They risked being booted out of the EFL if a sale was not completed soon – after Yongge was disqualified under the EFL’s owners’ and directors’ test.

American lawyer Couhig, who is also a former owner US side New Orleans Storm, is expected to be in attendance on Saturday as the Royals host Barnsley.

If Reading manage to better the result of Leyton Orient, who are away at Huddersfield, they will reach the League One play-offs.

A club statement read: “Reading Football Club is pleased to announce the sale in principle of the club to Redwood Holdings Limited.

“The takeover includes the Select Car Leasing Stadium and Bearwood Park Training Ground.

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

“Based on the agreement between the parties, the EFL has agreed to extend its deadline for the divestment of Mr Dai Yongge’s shareholding until its next Board Meeting on 8 May.”

Yongge first purchased Reading in May 2017 and is very unpopular among fansRex Features

With the announcement made on what could be a momentous footballing day for the club, fans took to social media to express their joy.

“I’m so happy I could cry,” one said.

Another simply wrote: “We are free.”

More to follow.

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