Huge glimmer of hope for Reading as fresh takeover news emerges

There is a huge glimmer of hope for Reading as fresh takeover news emerges with it seemingly entering the final stages.

The League One outfit and 75 year old American businessman Rob Couhig, the former owner of Wycombe Wanderers, could see the sale completed within next two weeks, as per reports on Tuesday morning (9 July).

Huang Kad tweeted the night before the Telegraph put out their story: “As I mentioned last week things are now close. Exclusivity has already been agreed a couple of weeks back but not in public knowledge. I anticipate the club to provide an update this week. Bid is already with EFL so it won’t take long for approval. Club did not want to get finger burned again by announcing exclusivity and then bud falling through. This time I am told they keep it hush and will just announce the takeover when it happens rather than lots of little updates. #readingfc”

Rob Couhig getting closer to the finish line, will be a massive boost to all #readingfc fans if this finally gets passed through.

Still maintain the same opinion as before, left Wycombe in a better place than he left it, knows the league etc. Could be much worse. https://t.co/Lpi5flYKHH

— Courtney Friday (@cfridayjourno) July 9, 2024

Reading takeover edges closer as former Wycombe owner enters final stages #ReadingFC https://t.co/ju0AN0ZAnM

— Mike McGrath (@mcgrathmike) July 9, 2024

What do we make of that then, #readingfc fans? It’s not done until it’s done, but it’s progressing well! If Mr Couhig is to take over, which he looks increasingly likely to, how will you feel? Suspect he’s got a bit of winning over to do early on! https://t.co/4aPdszinML

— James Earnshaw (@james_e1871) July 9, 2024

Caroline Parker, a ‘Sell Before We Dai’ campaigner, tweeted: “Not celebrating just yet. Been here before too many times! I think if this falls through now, then #ReadingFC fans will give up all hope to be honest. Feels like the last roll of the dice now.”

Rob Couhig, who recently stepped down from his position at the Chairboys, had been in advanced negotiations to take over at the Berkshire outfit.

This potential move has caused a stir with some Reading fans, after a group of fans protested against Couhig’s plan in trying to move Wycombe into Reading’s Bearwood Park training ground earlier this year, but the transaction came to a halt due to planning restrictions preventing other clubs from using the facility.

Reading fans felt Rob was taking advantage of the League One club’s financial struggles, hence why Couhig may not be warmly received by the fanbase.

But now he could be the man, as part of a consortium, to takeover from Dai Yongge.

Reading has faced financial challenges under Yongge, resulting in a deduction of 18 points for breaching EFL regulations, and more recently, Reading FC Women had to withdraw from the Championship and have now dropped down to the fifth tier for the 2024/25 season.

Since the men’s team’s relegation from the second tier in 2023, the club have been in talks with several potential investors, including a North American group whose deal fell through in May.

Representatives from Couhig’s team were reportedly at the Select Car Leasing Stadium on Monday, with it said that transaction is nearing completion.

The EFL aren’t commenting on this, but no issues are expected considering Couhig has already passed the Owner and Directors Test.

Couhig has put the issue of attempting to acquire Reading’s training ground back in March behidn him now with full focus on trying to buy and save the crisis club.

In 2023, the Football League sought to disqualify Yongge, but the commission ruled against it.

Despite the points deduction, Reading fought on, with the boss Ruben Selles guiding his side to a 17th place finish in League One for 2023/24, sitting nine points above the relegation zone.

Another casualty of Dai Yongge’s reign as Reading Women are withdrawn from league

SEE MORE: Pundit tells Reading fans to accept ex-Wycombe owner who leads way in takeover talks

This is how fans reacted with there being a huge glimmer of hope for Reading as fresh takeover news emerges…

@pott95: Still unsure on Couhig but really not going to complain about getting Dai out. Promising update and fingers crossed the start of a new beginning for the club to focus on results on the pitch now 👀🤞 #readingfc

@dinghugo6: Thank fuck. Don’t even care that it’s Couhig. Fresh start needed but he’s on thin ice

@holly_w33: thank god for that 🤞

@thesimpsonRFC: Fingers crossed this nightmare will be over, very soon before the start of the season. Stability on and off the pitch for the first time in over four years #readingfc 🙏🙏

@bodge77: He’s left Wycombe in a healthy state so it’d be better straight away. Maybe the original Bearwood sale idea was all part of this, we’ll probably never know

@Jamie_Hodder21: Has to win me over. I have. No doubt he will sort out the finances. But that doesn’t change his conduct towards us and what he tried to do.

@Mike_Kearns24: This is my final bit of hope left. Please don’t shatter me 🙏🏻🤞🏻

@Readingfanman: Pleased it’s close, less happy than I thought I’d feel, more relief? Dont know if it’s sheer exhaustion of the whole thing or just the underwhelment of it, So much frustration of the last year + some irreparable damage to the club makes it less ‘happy’ than maybe hoped. But, ultimately, if this is the case and Couhig gets confirmed, it’s a mile better than the current situation. Lots of PR needed in reality but he knows how to play the game. Sure we will see some Wycombe heads come in and some current people moved on as well. Will be most interested in how we operate in the first 6 months, whether it’s ambition, and pushing to improve areas, particularly off the pitch, or cutting back and running on shoestrings justified against sustainability.

@mjbarns1990: Only relief for me. Think we have the right to mistrust anyone who comes in as owner after the last 12 years. Hopefully that trust will be earned back and we can get back to having a club that is no longer a joke.

@trebor_blue: After the training ground grab it will take a very long time for the fans to trust him, there will always be the suspicion about him selling off the club assets rather than trying to rebuild the club to climb back up the leagues.

@Tatum1871: IF, and it is a MASSIVE if, this is true and the club still went ahead and moved the Womens team to step 5, it’s a massive indication that Couhig and co. are going to cut costs wherever they can and the academy losing CAT 1 will be a major casualty #ReadingFC

@Nozzzaaaaa: Let’s hope so 🙏🏻🙏🏻

@CassFox_: It’s never boring #ReadingFC

@MartinConaghy: Keep cat 1, be transparent about everything

@trebor_blue: I think it will take a long time for fans to trust him after the training ground grab there will always be the suspicion that he is selling assets off behind our backs. Needs to keep current staff and Cat1 status.

@mjbarns1990: Will be great to see the back of the current owner but Couhig is going to have to win the fans over. Personally I don’t want them but it’s the lesser of two evils. Understanding the ethos of the club and the fans, whilst being a good communicator would be a good start.

@Maxw184: Will take him at this point you feel it’s either him or Dai for another year

@Biscuitman6: Not counting my chickens where he’s (Dai) involved.

@Adam_Bateman_UK: What does this mean for the women’s section??

Well……#ReadingFC

Funny old game. https://t.co/AIqIHyksJN

— Matt (@RustyRoyal) July 9, 2024