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Did William Storey Buy Reading FC? What Happened to the 2023 Takeover Talk

Storey’s reported £50 million Reading takeover bid was a 2023 story, not a completed purchase. Reading later sold to Redwood Holdings Limited in May 2025.
From TheFinanceBase Team2 min to read
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No. William Storey did not buy Reading FC. In October 2023, reports linked him to a proposed takeover reportedly worth £50 million and cited earlier bids for Sunderland and Coventry. Reading said no sale agreement or exclusivity existed; Storey was reported to have withdrawn in November 2023. Reading was later sold to Redwood Holdings Limited in May 2025.

What was reported about Storey’s Reading bid?

On 12 October 2023, Autosport reported that Storey was working toward a takeover of Reading FC, with the proposed price reported as £50 million. That was a prospective figure in coverage, not a confirmed transaction value. The same report said earlier bids involving Sunderland AFC and Coventry City had fallen through; it did not establish detailed reasons for either outcome. Autosport’s 12 October 2023 report

Did Reading confirm an agreement?

No. On 12 October 2023, Reading FC said its sale process was ongoing and that, contrary to reports, “there is currently no agreement in place with any party.” The club’s statement also said there was no exclusivity. That official clarification is distinct from the earlier coverage describing Storey as pursuing a deal: the club had not confirmed an agreed takeover. PlanetF1’s report reproducing Reading FC’s statement

Why did the talks end?

Crash.net reported on 1 November 2023 that Storey said he and his investors had decided not to proceed. In the post quoted by Crash.net, Storey said: “Our accountants have reported. My investors and I have decided not to proceed.”

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The same report relayed a different account from Reading Chronicle reporter James Earnshaw, who said Storey had not signed anything, received exclusivity, shown proof of funds, or identified investors. These claims are accounts attributed to their respective speakers; the available reports do not independently resolve the dispute. Crash.net’s 1 November 2023 report

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Who owns Reading FC now?

Reading FC announced on 3 May 2025 that it had agreed a sale in principle to Redwood Holdings Limited, covering the club, stadium, and training ground. BBC Sport reported on 14 May 2025 that the sale had been completed and ratified by the EFL. The club’s company-details page lists Redwood Holdings Limited as owner, with Robert Emmett Couhig Jnr and Todd Trosclair as directors. Reading FC’s 3 May 2025 announcement · BBC Sport’s 14 May 2025 report · Reading FC company details

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