Reading FC is on the verge of a major transformation after U.S. businessman Rob Couhig agreed to a deal to purchase the club through his company, Redwood Holdings Limited. The takeover includes the club, the Select Car Leasing Stadium, and the Bearwood Park Training Ground, and is expected to mark the end of a troubled era under Chinese owner Dai Yongge.

The English Football League (EFL) has granted an extension until May 8, 2025, for Yongge to complete the divestment of his shares. The sale is pending legal formalities and final approval from the EFL, but it is widely viewed as a done deal.

Couhig, a former owner of Wycombe Wanderers, brings experience and a new vision to Reading Football Club, currently playing in League One. His business partner, Todd Trosclair, is also part of the ownership group aiming to restore financial stability and long-term planning at a club that has faced repeated points deductions, cash-flow problems, and fan unrest.

The agreement comes after years of turmoil at Reading FC, with supporters repeatedly protesting against Yongge’s mismanagement. Under his ownership, the club suffered relegation from the Championship, financial penalties, and the controversial shutdown of the Reading FC Women’s team. Fans have reacted with relief and optimism, hopeful that Couhig’s arrival signals a fresh start for the historic English club.

On the pitch, Reading narrowly missed out on the League One playoffs, finishing seventh just outside the top six on goal difference. The team has shown signs of resurgence, and with new ownership, the ambition to push for Championship promotion next season appears more realistic than ever.

In a statement, Couhig praised the club’s passionate fanbase and outlined plans to build a sustainable future for Reading FC, including better community engagement, infrastructure investment, and squad development. Supporters’ groups have welcomed the transparency and football knowledge of the incoming owners.

If approved, the deal will officially end Dai Yongge’s troubled reign and open a new chapter for Reading Football Club a club with Premier League history and ambitions to rise again.