Rob Couhig’s prospective deal to buy Reading has collapsed, raising fears over the future of the troubled League One club. Couhig, the former Wycombe owner, satisfied the English Football League’s owners’ and directors’ test but Reading’s owner, Dai Yongge, failed to complete a deal to sell the club.
Reading’s immediate future will be funded by the money generated from the sell-on clause in the deal that took Michael Olise to Bayern Munich from Crystal Palace, who paid Reading £8m for the midfielder in 2021. Yongge, who acquired the club with his sister in 2017, has failed to make several payments in recent years, leading to a series of points deductions.
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Couhig had invested at least £5m to meet monthly bills and wages but Reading say the 75-year-old American has been paid back. Couhig had attended Reading matches and had plans to revive the club. Reading supporters have regularly protested against Yongge.
Reading said in a statement: “Despite lengthy and complex negotiations, the parties have been unable to find an agreement. This exclusivity period has now expired, and the club will pursue alternative options.
“The club acknowledges and appreciates the financial support provided by the potential purchaser during recent months. All loans have now been paid back to the potential purchaser in full along with the accrued interest.”
The club said Yongge “remains committed to the sale of Reading Football Club and provisions are in place to fund the club until a transaction is completed”.