Attempted takeover of Reading falls through | OneFootball

The attempted takeover of Reading by former Wycombe Wanderers Rob Couhig has fallen through after a breakdown in negotiations.

Couhig, an American lawyer and businessman, had a long period of exclusivity with the current owner of the League One club, Dai Yongge, but was unable to reach an agreement on a deal.

An official club statement said “alternative options” would now be pursued, and that “Mr Dai remains committed to the sale of Reading Football Club and provisions are in place to fund the club until a transaction is completed.”

“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 BBC have reported that the money received from the sell-on clause in the contract of former player Michael Olise, who moved from Crystal Palace to Bayern Munich this summer, is helping keep Reading financially stable for the moment.

The Berkshire club have experienced serious financial difficulties in recent years under Yongge, which has seen their women’s side forced to withdraw from the Championship, and their men’s side docked six points last season.

The Royals are currently 12th in League One after five games, picking up two wins, two defeats and a draw.