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William Storey is the founder of Rich Energy, the energy-drink brand that was the title sponsor of the Haas Formula One team in 2019. In October 2023, Autosport reported that he was trying to buy Reading FC in a deal it valued at £50 million. He did not become Reading’s owner. The club was sold to Redwood Holdings Limited, a company owned by Rob Couhig and Todd Trosclair, and that acquisition was completed on 14 May 2025. If you have seen a headline saying Storey is “eyeing” Reading, it refers to a 2023 report, not a current deal.
Who William Storey is
The most reliable description of Storey in the reporting is that he founded Rich Energy. Beyond that, the sources behind this story do not establish further biographical details such as his wealth, education, or earlier career, so this article does not offer them.
Rich Energy and the Haas F1 partnership
Rich Energy sponsored the Haas Formula One team, and Autosport reported that the drinks brand was Haas F1’s title sponsor in 2019. That partnership did not last. The Haas F1 Team issued a statement, reproduced by Autosport, saying: “Haas F1 Team and Rich Energy have amicably agreed to end their partnership together in the FIA Formula One World Championship with immediate effect.” The same statement cited a corporate restructuring process at Rich Energy and the need for a revised global strategy. That explanation comes from the team’s statement, not from an independent account of Rich Energy’s finances.
The 2023 Reading FC bid
On 12 October 2023, Autosport reported that Storey was working to complete a takeover of Reading FC valued at £50 million. The figure is a reported bid value. Autosport said the deal remained subject to the English Football League’s owners’ test, which is the EFL’s process for approving prospective owners. No completion of that proposal was reported.
Reading’s own statements from October 2024 and March 2025 describe exclusivity with a potential purchaser. Those statements do not name Storey, so they cannot be tied to his 2023 report without further evidence. Reading’s ownership at the time was complicated by a registration embargo linked to late filing of 2022–23 accounts, and by a dispute over the shareholding of previous owner Dai Yongge, who was required to divest his interests after being disqualified as a director.
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Who owns Reading FC now
On 3 May 2025, Reading announced a sale in principle to Redwood Holdings Limited, a subsidiary of Dogwood Football LLC. The club said the deal included the stadium and training ground. BBC Sport reported on 14 May 2025 that the acquisition had been completed with EFL clearance. It covered 100% of Reading Football Club’s shareholding, the Select Car Leasing Stadium, and the Bearwood Park training ground. Rob Couhig became chairman, and Couhig and Todd Trosclair both joined the board. BBC Sport also reported that the completed sale ended Yongge’s tenure as majority shareholder, a period that had included transfer embargoes, point deductions, and supporter protests.
Comparing the two transactions
The 2023 report and the 2025 sale are separate events with different buyers. Treating them as stages of one Storey deal would be a mistake.
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| Point of comparison | Reported 2023 bid | Completed 2025 sale |
|---|---|---|
| Prospective buyer | William Storey, founder of Rich Energy | Redwood Holdings Limited, owned by Rob Couhig and Todd Trosclair |
| Value | £50 million, as reported by Autosport on 12 October 2023; not verified | Not stated in the sources reviewed |
| Status | Reported as in progress, subject to the EFL owners’ test; no completion reported | Sale in principle announced 3 May 2025; completed 14 May 2025 with EFL clearance |
| Assets included | Not stated in the sources reviewed | 100% of the club’s shareholding, Select Car Leasing Stadium, Bearwood Park training ground |
| Main source | Autosport | Reading FC club statement (3 May 2025); BBC Sport (14 May 2025) |
What is and is not established
- Established: Storey founded Rich Energy, and Autosport reported his 2023 bid for Reading at £50 million.
- Established: Reading was sold to Redwood Holdings Limited, and that sale completed on 14 May 2025 with EFL clearance.
- Not established: the funding behind the 2023 bid, its detailed contract terms, or why it did not proceed. The reporting reviewed here does not explain these points.
- Not established: any link between Storey and the unnamed potential purchaser in Reading’s 2024 and 2025 statements.
- Not covered: online claims about Storey’s finances or character. They are not supported by the reporting cited here and should not be treated as fact.
- Time limit: this account reflects reporting up to May 2025. Club ownership can change, so check Reading FC’s official channels for anything more recent.
How to check a football club ownership claim
- Find the date of the article. Many “eyeing” or “trying to buy” headlines recycle reports that are years old, as this one does.
- Look for a primary statement from the club. Reading’s announcements of 3 May 2025 and 14 May 2025 are examples of the kind of source that confirms a sale.
- Check for EFL clearance. A sale of a club in the English Football League requires the EFL’s owners’ test, so a completed transfer should be backed by league confirmation or a reliable report of it.
- Use Companies House, the UK company register, to see the officers and registered details of the company that owns the club. This shows who is listed as a director, although it does not confirm beneficial ownership in every case.
The answer to the headline question is that Storey made a reported bid for Reading FC in 2023, but Reading was sold to Redwood Holdings Limited, and that is the ownership that applies today.
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