Rob Couhig's Reading FC takeover deal collapses | OneFootball

The Royals are back to square one after Couhig's quest to buy the club ended, with the American's loan set to be repaid.

League One side Reading have seen Rob Couhig's attempted takeover of the club collapse.

This is according to BBC Radio Berkshire's Tim Dellor (clip), who has heard from a source that current owner Dai Yongge is still "keen to sell the club".

The Royals are in desperate need of a takeover at this point, with Dai suffering major financial issues in the past year or two.

With these cash flow issues continuing, Redwood Holdings, the vehicle that was going to be used to purchase the football club, have lent the club money in recent months to stay afloat.

And Couhig was even visible at games earlier this term, including the Wigan Athletic clash, providing fans with major hope that this takeover would be sealed imminently.

But in recent days, this hope has evaporated and it now looks as though the Berkshire side are back to square one, as they look to rid itself of Dai.

Protests against Mr Dai took place last term and there was even a match abandonment due to a pitch invasion against Port Vale, with fans in despair at that point in January earlier this year.

However, the fans' hopes were raised when it was revealed in March that Dai had entered a period of exclusivity with an interested buyer.

That period of exclusivity ended in June and at that point, it was revealed by the club that talks were ongoing with the same party and other interested buyers.

And during the early stages of this season, it seemed certain that Couhig would secure a takeover, but any hopes of that happening are now thought to be dead.

Reading FC takeover update revealed

Couhig's period of exclusivity has now ended and a takeover deal has now collapsed, according to Dellor.

Redwood Holdings, led by Couhig, have reportedly loaned the club around £4m, and they will be paid back immediately.

Even though this sale has collapsed, it has been claimed that Dai is still keen to sell the club, with other interested parties set to be invited back to the negotiating table.

Cash flow issues won't be an issue in the short term though, according to Dellor, with the sell-on money they received for Michael Olise's move to Bayern Munich likely to help them pay the bills in the coming months.

However, this update is still a very depressing one for supporters, who have been crying out for a takeover for more than a year now.

They currently sit in midtable, but they could slide down the division with the club's future now uncertain again.

Dai Yongge must sell Reading FC for everyone's sake

Dai must sell the football club - and it's a disgrace that he hasn't.

Manager Ruben Selles (pictured above) deserves much better, having shown so much loyalty to the club despite their ownership issues since he took over.

The players also deserve a lot better - and off-field stability is the very least they deserve at this point.

The fans have also been pushed to breaking point in recent months and they will be so upset about this news - and quite rightly too.

It seemed as though the club was only one step away from a takeover, but Dai seems to have been the barrier again and many fans will be unconvinced that he actually intends to sell the club.

Unfortunately, he won't be the one who feels the full effects of the backlash that will follow. It will be the club's employees on the ground.