READING’S takeover attempt by Rob Couhig has collapsed.
The 75-year-old extremely close to being named the new owner of the Royals after funding the club over the summer and meeting supporters on multiple occasions.
The future of the club is now in serious doubt, according to BBC Radio Berkshire’s Tim Dellor, who has heard from a source that current owner Dai Yongge is still “keen to sell the club.”
Other interested parties are expected to be invited back to the negotiating table but, currently, no bidders are waiting in the wings.
The radio show revealed that Couhig has been fully repaid for his loans and the club will be kept afloat in the short term by a sell-on fee received for the transfer of former star Michael Olise from Crystal Palace to Bayern Munich.
Redwood Holdings, led by Couhig, reportedly loaned the club around £4million.
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Couhig was spotted at games earlier this term, giving fans hope that the takeover would be completed soon.
However, in recent days this hope has faded and it now appears that the Berkshire side is back to square one as they seek to remove Yongge.
Protests against the owner occurred last term – including a pitch invasion which resulted in their clash with Port Vale being called off.
Fans’ hopes were raised in March when it was revealed that Dai had entered a period of exclusivity with an interested buyer.
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The period of exclusivity ended in June and, at that point, the club revealed that talks were ongoing with the same party and other interested buyers.
It was expected that former Wycombe Wanderers chief Couhig would end seven years of hardship under the Chinese billionaire Yongge.
However, the final contract could not be signed and Couhig has exited the process.
The Royals currently sit in mid-table in the third tier but they could slide down the division with the club’s future now uncertain again.
The club has yet to comment.
Source: Soccer - thesun.co.uk
