The acquisition of Reading Football Club has now been officially finalized.
Redwood Holdings Limited has signed the agreement to secure 100 percent ownership of the League One club.
Rob Couhig, the owner of Redwood Holdings, will assume the role of chairman, and co-owner Todd Trosclair has also immediately joined the club`s board of directors.
A statement from the club announced:
Reading Football Club is pleased to confirm that Redwood Holdings Limited – a subsidiary company of Dogwood LLC, owned by Rob Couhig and Todd Trosclair of New Orleans, Louisiana – has completed the acquisition of 100% of the shareholding in Reading Football Club.
The transaction, which has received EFL clearance, was finalized very early on Wednesday morning and includes the Select Car Leasing Stadium and Bearwood Park Training Ground.
Both Couhig and Trosclair will join the club’s board with immediate effect, with Rob Couhig being named as Chairman.
The statement further added:
Redwood is ambitious and dedicated towards the club returning to its rightful place within the English football pyramid, while adhering to clear principles of honesty, transparency, and financial sustainability.
Further communication from Redwood will follow in due course.
Before this takeover was confirmed, Reading was reportedly on the brink of going out of business.
The previous owner, Dai Yongge, purchased a 75 percent stake in the club eight years ago, but his ownership quickly led to a series of financial difficulties for the team.
These issues resulted in `The Royals` receiving multiple points deductions and suffering relegation from the Championship in 2023.
The club`s drop to League One prompted Dai Yongge to put Reading up for sale.
Couhig had expressed his interest in acquiring the club earlier this year.
By the time the sale was completed, the club had been listed for sale for over 600 days.
