Reading ownership nightmare finally over after Dai Yongge sells club to Rob Couhig
Reading's Select Car Leasing Stadium, formerly known as the Madejski Stadium, is included in the deal to buy the club. Photograph: Jonathan Brady/PA
Dai Yongge has sold Reading to Rob Couhig, ending the Chinese businessman's turbulent reign. Couhig, the 76-year-old former Wycombe owner, has acquired the League One club, their stadium and training ground.
The English Football League said it wished Reading and their supporters 'a successful future following a difficult period for all associated with the club'. A deal had been agreed for several weeks and has now been ratified by the EFL.
Advertisement
The US-based Couhig has been named chair and his business partner Todd Trosclair has also joined the board. Couhig tried to buy Reading last year but the deal collapsed in September 2024.
Reading have been bought by Redwood Holdings Ltd, a subsidiary of Dogwood Football LLC, which is owned by Couhig and Trosclair. 'Redwood is ambitious and dedicated towards the club returning to its rightful place within the English football pyramid, while adhering to clear principles of honesty, transparency and financial sustainability,' a club statement said.
Reading have been docked 18 points across the past three seasons, a period in which the club have also been under a series of embargoes for defaulted payments. Dai cut funding for Reading Women, resulting in them withdrawing from the second tier last summer, and in March he was disqualified as an owner by the EFL and given a deadline to sell the club, owing to business activity in China.
A statement from the supporters' campaign group Sell Before We Dai said: 'We are incredibly relieved and happy that Reading Football Club are finally under new ownership. It's a day which we thought, at times, may never happen.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
5 minutes ago
- Yahoo
Warren Buffett Buys a Beaten Down Healthcare Stock: Should You Follow?
Warren Buffett has struck again – this time in healthcare's rubble. Berkshire Hathaway (NYSE: BRK.B) recently disclosed a five million share position in United Healthcare Group (NYSE: UNH), the nation's largest health insurer. The timing is quintessentially Buffett. UNH shares have plummeted more than 50% from their all-time highs, battered by regulatory pressures and industry headwinds. While most investors flee the carnage, the Oracle of Omaha is doing what he does best – hunting for value in the wreckage. But as with everything Buffett does, context matters. Putting Things in Perspective The United Healthcare position is estimated to be worth around US$1.6 billion based on Berkshire's five million share purchase. That's a sizable sum of money by any measure. Here's what you need to know: Berkshire Hathaway's stock portfolio is worth close to US$295 billion. Therefore, the UNH position is less than 0.6% of the company's overall stock holdings. In contrast, Berkshire's largest position is actually Apple (NASDAQ: AAPL), valued at US$65 billion – representing more than a fifth of the total stock portfolio. Put simply, while the United Healthcare investment grabbed headlines, it wouldn't be moving Berkshire's needle anytime soon. Beyond that, there's a crucial question: did Buffett actually make this call? The Real Decision Makers Every Berkshire Hathaway stock purchase gets dissected as if it came straight from Warren Buffett himself. But the Oracle doesn't fly solo anymore. Berkshire brought on Todd Combs in 2010, followed by Ted Weschler in 2012. Both serve as investment managers with significant autonomy. Initially, Buffett allocated US$2 billion to each manager. By 2017, that figure had quintrupled to US$10 billion per person. Given this structure, the US$1.6 billion UNH bet could be from either Combs or Weschler – not Buffett himself. Get Smart: Look before you leap Context matters when it comes to investing. If you jump in and buy shares without understanding the full picture, you could get hurt in the process. For Berkshire, even if the UnitedHealth investment doesn't work out, you won't see the company sweating over a position worth less than 0.6%. Does the same apply to you? That's food for thought if you decide to pull the trigger. Dive into the future of technology with our newest FREE report, 'The Rise of Titans.' Discover how the big 7 US tech stocks can be your ticket to huge long-term gains. Download your copy today and see how easy it is to supercharge your portfolio. Follow us on Facebook, Instagram and Telegram for the latest investing news and analyses! Disclosure: Chin Hui Leong owns shares of Apple and Berkshire Hathaway The post Warren Buffett Buys a Beaten Down Healthcare Stock: Should You Follow? appeared first on The Smart Investor. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
37 minutes ago
- Bloomberg
Indian Equities Eye Big Gains as Tax Cuts Boost Sentiment
Before the trading day starts we bring you a digest of the key news and events that are likely to move markets. Today we look at: Good morning, this is Chiranjivi Chakraborty, an equities reporter in Mumbai. A rainy Monday morning in the city just got brighter. The mood is upbeat, with Nifty futures pointing to a strong start following Prime Minister Narendra Modi's plan to cut taxes on everyday goods, which could help soften the blow of potential US tariffs. Also, talks between Donald Trump and Vladimir Putin are giving investors a glimmer of hope for a Ukraine peace deal. Adding to the positive vibes, Chinese Foreign Minister Wang Yi begins a two-day visit to India, signaling a thaw in the frosty relations between the two neighbors.
Yahoo
an hour ago
- Yahoo
Modi's tax overhaul to strain finances but boost image amid US trade tensions
By Nikunj Ohri, Aftab Ahmed and Aditya Kalra NEW DELHI (Reuters) -Indian Prime Minister Narendra Modi's deepest tax cuts in eight years will strain government revenues but are winning praise from businesses and political pundits who say they will bolster his image in an ongoing trade fight with Washington. In the biggest tax overhaul since 2017, Modi's government on Saturday announced sweeping changes to the complex goods and services tax (GST) regime which will make daily essentials and electronics cheaper from October, helping consumers and also companies like Nestle, Samsung and LG Electronics. At the same time, in his Independence Day speech on Friday, Modi urged Indians to use more goods made domestically, echoing calls from many of his supporters to boycott U.S. products after Donald Trump hiked tariffs on imports from India to 50% as of August 27. The tax cut plan comes with costs given GST is a major revenue generator. IDFC First Bank says the cuts will boost India's GDP by 0.6 percentage points over 12 months but will cost the state and federal government $20 billion annually. But it will improve weak stock market sentiment and bring political dividends for Modi ahead of a critical state election in the eastern state of Bihar, said Rasheed Kidwai, a fellow at New Delhi-based Observer Research Foundation. "GST reduction will impact everyone, unlike cuts to income tax, which is paid by only 3%-4% of the population. Modi is doing this as he is under a lot of pressure due to U.S. policies," said Kidwai. "The move will also help the stock market, which is now politically important as it has a lot of retail investors." India launched the major tax system in 2017 that subsumed local state taxes into the new, nationwide GST to unify its economy for the first time. But the biggest tax reform since India's independence faced criticism for its complex design that taxes products and services under four slabs - 5%, 12%, 18% and 28%. Last year, India said caramel popcorn would be taxed at 18% but the salted category at 5%, triggering criticism about a glaring example of GST's complexities. Under the new system, India will abolish the 28% slab - which includes cars and electronics - and move nearly all of the items under the 12% category to the lower 5% slab, benefitting many more consumer items and packaged foods. Government data shows the 28% and 12% tax slabs together garner 16% of India's annual GST revenue of roughly $250 billion last fiscal year. 'A BRIGHTER GIFT' AND POLITICS Bihar is a key state politically and goes to the polls by November. A recent survey by the VoteVibe agency showed Modi's opposition has an edge largely because of a lack of jobs. "Any tax cut has wide public appreciation. But of course, the timing is purely determined by political exigencies," said Dilip Cherian, a communications consultant and co-founder of Indian public relations firm Perfect Relations. "It seems to be an indication of some mixture of frustration as well as recognition that there is a broad public pushback against high and crippling rates of taxation." Modi's ruling Bharatiya Janata Party has seized on his tax announcement, posting on X that on the Hindu festival of lights, Diwali, "a brighter gift of simpler taxes and more savings is waiting for every Indian." Modi has vowed to protect farmers, fishermen and cattlemen, following Trump's surprise tariff announcement on India, after trade talks between New Delhi and Washington collapsed over disagreement on opening India's vast farm and dairy sectors and stopping Russian oil purchases. The latest round of trade talks between the two nations set for August 25-29 has also been called off. ($1 = 87.5080 Indian rupees) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
