Reading FC takeover being brought to High Court to try and force sale
Rob Couhig, a potential buyer, is “baffled” that a deal hasn’t been finalised yet and plans to use the legal system to
pressure the unpopular Yongge into selling the team.
A potential The buyer of Reading FC, Rob Couhig, is “baffled” by the way the agreement has fallen through and
intends to sue the High Court in an attempt to coerce owner Dai Yongge into a prearranged sale.
A sale of an estimated £30 million was due to be finalised last month by US businessman Couhig, who previously
owned Wycombe Wanderers.
The sale was “90 percent completed,” according to sources, with Yongge’s signature being the final tie-up. Couhig
received an unexpected email telling him that the loans he had given the club in exchange for buying the club had
been repaid, despite the fact that the seller’s attorneys had completed and sent all the necessary paperwork,
including to the seller’s minority partners.
“I was astonished and shocked,” Couhig told The Independent. “I don’t understand.”
Anger-filled supporters have been putting a lot of pressure on Yongge to sell after a generally awful time at the club.
There is a strong belief in the game that the club will probably go into administration.
broken into the stadium.
According to sources, Nevertheless, Couhig is pursuing a claim in the High Court in an effort to compel
the transaction to proceed on the conditions that were originally agreed upon. Since the first transaction
fell through, the buyer’s side has only been frustrated repeatedly and has not heard anything from the
club.
When contacted by The Independent, Reading FC refused to comment on the situation.
Couhig will try to get compensated for missed profits if he is unable to push through the sale, but that is
only a backup plan that is far down his priority list.
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