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The Reading FC takeover is complete: the club and the EFL announced new ownership on 14 May 2025, after Reading had confirmed an exclusivity period with an unnamed potential buyer in October 2024. The eventual owner is Redwood Holdings Limited, and the sale included Select Car Leasing Stadium and Bearwood Park Training Ground.
What happened to the Reading FC takeover?
The headline about a consortium being set to sign an exclusivity agreement describes an earlier stage of the process, not the club’s current ownership. Reading confirmed exclusivity with an unnamed potential purchaser on 7 October 2024. It said the proposal covered Dai Yongge’s shareholding in The Reading Football Club Limited, Select Car Leasing Stadium and Bearwood Park Training Ground. The club’s 7 October 2024 statement did not name the purchaser.
On 27 March 2025, Reading said the exclusivity period remained in place and that the proposal still included the club, stadium and training ground. The club described the parties as positive about completing a transaction. Its March 2025 statement also referred to a dispute about alternative security in litigation with Mr Couhig, as well as outstanding accounts and possible embargo consequences. That update did not announce a completed sale.
Who bought Reading FC?
On 3 May 2025, Reading announced a sale in principle to Redwood Holdings Limited. The club said Redwood was a subsidiary of Dogwood Football LLC, owned by Rob Couhig and Todd Trosclair of New Orleans, Louisiana. The proposed transaction included Select Car Leasing Stadium and Bearwood Park Training Ground. At that point, the club said completion remained subject to final legal technicalities. The announcement is available in Reading’s 3 May 2025 statement.
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On 14 May 2025, the EFL announced that Reading Football Club was under new ownership. The club’s current company information identifies Redwood Holdings Limited as its owner in its entirety and lists Robert Emmett Couhig Jnr and Todd Trosclair as directors. Company-register information can change over time; Companies House identifies The Reading Football Club Limited as company number 00053703. Its latest accounts are reported as made up to 30 June 2025. See the EFL announcement, Reading FC company information and Companies House record.
How the takeover moved from exclusivity to completion
| Stage | Date | What was confirmed |
|---|---|---|
| Exclusivity | 7 October 2024 | Reading said it had agreed an exclusivity period with an unnamed potential purchaser. The proposal included the owner’s shareholding, stadium and training ground. |
| Exclusivity still in place | 27 March 2025 | The club said exclusivity continued and the parties remained positive about a transaction; no buyer was named in the statement. |
| Sale in principle | 3 May 2025 | Reading named Redwood Holdings Limited as the buyer, subject to final legal technicalities. |
| New ownership | 14 May 2025 | The EFL reported that Reading was under new ownership; club information identifies Redwood as owner. |
These milestones are not interchangeable. Exclusivity signals that a potential purchaser has a period to pursue a transaction; it does not establish that a sale has been agreed or completed. A sale in principle is a later announcement, but Reading’s May 3 statement still made completion conditional on final legal technicalities. The May 14 announcement marked the confirmed change of ownership.
What did the takeover include, and what is not established?
Reading’s October 2024 statement described a proposal covering Dai Yongge’s shareholding in the club company, Select Car Leasing Stadium and Bearwood Park Training Ground. The May 2025 sale-in-principle announcement likewise named the stadium and training ground as part of the transaction. The EFL and club later confirmed new ownership.
- The October 2024 and March 2025 club statements did not identify the earlier potential purchaser. The available official announcements do not establish that the unnamed party was Redwood or verify the exact date a particular consortium was reported to be signing an exclusivity agreement.
- The sources cited here do not state the purchase price or detail every negotiation step.
Why did EFL and financial requirements matter?
Club takeovers are subject to regulatory checks as well as negotiations between buyer and seller. The EFL says an acquisition of control is subject to requirements of both the EFL and the Independent Football Regulator (IFR). Its guidance also says prospective owners must demonstrate enough cash to acquire their proposed shareholding and fund the club’s operations under the disclosed business plan. Read the EFL owners and directors test guidance.
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The timetable unfolded amid financial and regulatory pressure. In October 2024, Reading said it had been placed under an EFL registration embargo after the late filing of its 2022–23 accounts. In March 2025, the club referred to outstanding accounts and potential embargo consequences. On 22 April 2025, the EFL extended the deadline for Dai Yongge to divest his interests until 5 May, citing progress on the sale and the club’s immediate cash-flow needs. The extension provides context for the transaction’s timing; it does not identify the earlier unnamed purchaser. See the EFL’s 22 April 2025 statement.
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