Reading FC: Rob Couhig takeover update emerges as Dai Yongge's latest deadline extension expires | OneFootball

Reading are expected to be bought by former Wycombe Wanderers owner Rob Couhig.

The sale of Reading FC to Redwood Holdings Ltd (Rob Couhig) is expected to be completed within the next 48 hours, with the sale "99.9%" complete.

A number of protests, fiascos and deadline extensions later, the end of Dai Yongge's reign at the top of Reading is coming close to its conclusion.

It was announced on May 3 that a sale in principle to Redwood Holdings, who are led by Couhig, the former Wycombe Wanderers owner, had been agreed, with the deadline for the sale being pushed back until May 8.

That final date was, again, pushed back to May 12, and then on that date the EFL confirmed that the sale was getting closer to completion.

"The sale of @ReadingFC continues to progress towards completion, with the League having received further documentation over recent days. A further update will be shared in due course," read the statement posted to the EFL Communications X page.

Yongge has been in charge at the Select Car Leasing Stadium since 2017 and has led the club into very dark days.

If the sale does fall through, even at this late stage, then Reading could be faced with banishment from the football league - a sad reality that has stared them in the face for a while now.

Reading FC: Rob Couhig takeover completion timeline laid out

The poor financial management of the club led to them dropping to League One and suffering a number of points deductions along the way. Those days are soon to be behind them though, as it has been reported by Tim Dellor that Couhig should be announced as the new owner within the next two days.

The American businessman had a fairly successful spell with Wycombe before leaving the Chairboys in 2024. He oversaw a promotion to the Championship in 2020 and, more importantly, a very stable operation.

He did try to purchase Reading's Bearwood training ground for the Wanderers in March 2024, which did not best please the Royals' supporters, but those former ill feelings have been put to one side now that he is set to rid the club of Yongge.

BBC reporter Lewis Coombes has also added an encouraging claim about the sale. He revealed that his sources said that the deal is 99.9% done.

Reading's Championship return hopes will be boosted by sale

Reading only finished three points behind Leyton Orient in sixth place this season, despite the off-field distractions and poor conditions in which the two managers they had this season - Ruben Selles and Noel Hunt - and their players have had to work under.

The club lost £180.1 million from when Yongge arrived up until last summer. Not having cash draining out of the club will give them much better chances of putting together a team that can challenge for promotion, plus they will actually be able to buy players now that their transfer embargo has been lifted by the EFL.