Reading FC supporters were dealt a severe blow on Wednesday afternoon when it was confirmed that the club’s proposed takeover by former Wycombe Wanderers owner Rob Couhig had failed.
Couhig had been in exclusive talks with current Reading owner Dai Yongge in recent months, and it appeared like things were progressing well.
The American billionaire had met manager Ruben Selles, the players, and the club’s staff, as well as attended several games this season, before the EFL approved the agreement.
Selles said as late as last week that he was optimistic the takeover would be completed, but a statement from the club confirmed that it has now fallen through since the two parties failed to agree an
agreement, and all loans have been repaid to Couhig. Royals fans had thought that Couhig’s takeover would bring an end to Yongge’s terrible seven-year reign, during which the club was docked a total of 16 points, but while he is still looking to sell, he will remain in charge for now.
Selles’ side have had a good start to the season, sitting 12th in the League One table, just three points behind the play-offs, but it will be of little comfort to the fan base following the latest takeover failure.
Reading FC fan reaction to latest takeover developments
According to FLW Reading fan pundit Johnny Hunt, the breakdown of Couhig’s possible takeover is upsetting for supporters, and he admits he has little faith in Yongge’s ability to sell the club.
“The anger over what’s going on is unbelievable,” Johnny added.
“You believe that finally, after years of horrible ownership and harsh times, we’re going to have a new owner in after all the hope he’s been giving us over the last few weeks that a deal has been reached and something would happen.
“Now we’ve reached the point where it’s not going to happen, and a year later, despite all of the protests, pitch invasions, tennis balls, and marches, we’re still no closer to having our club back.
“The
statement today says that the owner is still committed to selling the club, but he’s had opportunities to sell it, and he hasn’t, so I don’t have any faith in him or what’s going on. “The impact on the mental health of the fans, the players and the people at the club is huge, the constant anxiety of wondering what’s happening gets to all of us.
“The club means the world to us, and the thought of us not having the club anymore is horrific.
“We just want our club back, that’s all we want.
“We know it’s in a bad state, but we want it back, and we need this owner gone.
“We can’t go through another round of this, it needs to be done
“As usual, nobody is really helping to solve this problem, and it’s just another sad day for Reading fans and the people that love the club.” Reading FC supporters will be concerned by the fresh takeover update. It is likely that every Reading supporter will agree with Johnny’s words, and it is difficult not to sympathize with the club’s plight.
It is predictable that Johnny does not believe Yongge will sell the club to a competent new owner, and the club’s statement will do little to alleviate supporters’ reasonable fears.
It has been stated that the money collected via the sell-on clause in the deal that saw Michael Olise join Bayern Munich from Crystal Palace this summer will assist to fund the club’s immediate future, but this is not a long-term solution, and Yongge must find a suitable buyer as quickly as possible.
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