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Reading FC’s takeover was completed on 14 May 2025, when Redwood Holdings Limited acquired 100% of the club’s shareholding after English Football League clearance. The deal included the Select Car Leasing Stadium and Bearwood Park training ground. It was a clear ownership transfer after months of uncertainty; the timeline alone cannot show whether the takeover proved “ideal” in the longer term.
Reading FC takeover timeline
7 October 2024: exclusivity, not a completed sale
Reading FC announced that it had agreed an exclusivity period with a prospective purchaser. The arrangement included further funding until the intended completion, and the proposed sale covered Dai Yongge’s shareholding, the Select Car Leasing Stadium and Bearwood Park Training Ground. The club did not name the prospective buyer, so the October announcement does not establish that the party was Redwood.
At the time, the club also said the EFL had imposed a formal registration embargo because Reading had filed its 2022–23 accounts late. Reading FC’s 7 October 2024 statement.
22 April 2025: the EFL extends the divestment deadline
The EFL extended the deadline for Dai Yongge to divest his interests in Reading until 5 May 2025. This was a regulatory deadline extension, not evidence that a buyer had completed an acquisition. The EFL’s 22 April 2025 statement.
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3 May 2025: sale in principle to Redwood
Reading FC announced a sale in principle to Redwood Holdings Limited. The club said the transaction included both the stadium and Bearwood Park. It also reported that the EFL had extended the divestment deadline to the League’s next board meeting, scheduled for 8 May. “In principle” marked a significant step, but it was not the same as a completed transfer. Reading FC’s 3 May 2025 announcement.
14 May 2025: acquisition completed after EFL clearance
BBC Sport reported that the deal was finalised and ratified by the EFL on 14 May. Redwood, a subsidiary of Dogwood Football LLC, acquired all of Reading FC’s shares, with the Select Car Leasing Stadium and Bearwood Park included. The club’s completion announcement, quoted by the BBC, named Rob Couhig and Todd Trosclair as incoming directors and Couhig as chairman. BBC Sport’s 14 May 2025 report.
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Companies House records a change in person with significant control and director changes dated 14 May 2025. Its filing history also lists group accounts made up to 30 June 2025, filed on 30 March 2026, and a charge created on 5 May 2026 and registered on 13 May. These entries document later corporate filings; they do not, on their own, establish the club’s current financial health or whether the new owners met their aims. Companies House notes that it does not check the accuracy of information filed. Reading Football Club Limited’s Companies House filing history.
Who bought Reading FC from Dai Yongge?
Redwood Holdings Limited acquired 100% of Reading FC’s shareholding. BBC Sport described Redwood as a subsidiary of Dogwood Football LLC and reported that the EFL ratified the deal on completion. The October 2024 announcement referred only to an unnamed prospective purchaser; the available statements do not establish that Redwood was that earlier party.
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What was included in the takeover?
The completed transaction covered the club’s entire shareholding as well as the Select Car Leasing Stadium and Bearwood Park training ground. The October 2024 and May 2025 club announcements both identified the stadium and training ground as part of the proposed transaction, and BBC Sport reported their inclusion when the acquisition completed.
Why did the sale matter to Reading supporters?
In January 2024, the EFL said it had become increasingly clear that Dai Yongge was “no longer in a position – or does not have the motivation – to support the Club financially as he did following the change of control in 2017.” The League urged him either to fund the club adequately or arrange a sale. That was the EFL’s stated view, not an independent determination of his motives. The EFL’s 15 January 2024 statement.
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BBC Sport’s account of the takeover’s completion places the sale against a difficult period under Yongge’s ownership: it says he and his sister Dai Xiu Li took control in May 2017, identifies seventh place in the 2020–21 Championship as the tenure’s high point, and recounts points deductions, transfer embargoes and the club’s drop to the third tier. The report says deductions totalled 18 points across the three-season period it describes; that figure belongs to that stated timeframe, not to Reading’s overall history. BBC Sport’s completion-day report.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Was the takeover an “ideal scenario”?
On the evidence of the transaction itself, the outcome delivered a decisive change of ownership: exclusivity and a sale in principle became a completed transfer of all shares, with the stadium and training ground included, after EFL clearance. That is a stronger result than a prolonged process that never reaches completion.
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But “ideal” is a broader verdict than the transaction record can support. The sources establish the dates, assets and ownership change; they do not demonstrate a subsequent recovery in finances, governance or results. Nor do the owners’ stated principles of honesty, transparency and sustainability, reported at completion, prove what happened in practice. A fair assessment therefore distinguishes a completed takeover from evidence of lasting success.
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