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.
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
31 minutes ago
- Yahoo
Exclusive-China issues rare earth licenses to suppliers of top 3 US automakers, sources say
By Laurie Chen and David Shepardson BEIJING/WASHINGTON (Reuters) -China has granted temporary export licenses to rare-earth suppliers of the top three U.S. automakers, two sources familiar with the matter said, as supply chain disruptions begin to surface from Beijing's export curbs on those materials. At least some of the licenses are valid for six months, the two sources said, declining to be named because the information is not public. It was not immediately clear what quantity or items are covered by the approval or whether the move signals China is preparing to ease the rare-earths licensing process, which industry groups say is cumbersome and has created a supply bottleneck. China's decision in April to restrict exports of a wide range of rare earths and related magnets has tripped up the supply chains central to automakers, aerospace manufacturers, semiconductor companies and military contractors around the world. China's dominance of the critical mineral industry, key to the green energy transition, is increasingly viewed as a key point of leverage for Beijing in its trade war with U.S. President Donald Trump. China produces around 90% of the world's rare earths, and auto industry representatives have warned of increasing threats to production due to their dependency on it for those parts. Suppliers of three big U.S. automakers, General Motors,, Ford and Jeep-maker Stellantis got clearance for some rare earth export licenses on Monday, one of the two sources said. GM and Ford each declined to comment. Stellantis said it is working with suppliers "to ensure an efficient licensing process" and that so far the company has been able to "address immediate production concerns without major disruptions." China's Ministry of Commerce did not immediately respond to a faxed request for comment. China's critical-mineral export controls have become a focus on Trump's criticism of Beijing, which he says has violated the truce reached last month to roll back tariffs and trade restrictions. On Thursday, Trump and Chinese President Xi Jinping had a lengthy phone call to iron out trade differences. Trump said in social-media post that "there should no longer be any questions respecting the complexity of Rare Earth products." Both sides said teams will meet again soon. U.S. auto companies are already feeling the impact of the restrictions. Ford shut down production of its Explorer SUV at its Chicago plant for a week in May because of a rare-earth shortage, the company said. The approval for the auto suppliers follows a green light granted to a U.S. electronics firm's suppliers last week and another one issued earlier this week to suppliers of a U.S. non-auto company, the first person said, declining to name the companies. "We have to give the Chinese the benefit of the doubt that they're working through this. It's up to them to show that they are not weaponizing it," said the person. Reuters reported on Wednesday that China has introduced a tracking system for its rare earth magnet sector in a move to improve its control over the sector and crackdown on smuggling. Sign in to access your portfolio
Yahoo
32 minutes ago
- Yahoo
Palantir CEO Warns of AI Arms Race With China
Palantir (PLTR, Financials) CEO Alex Karp said Thursday that artificial intelligence poses serious risks and that the ongoing AI arms race will ultimately be won by either the United States or China. There are positive and negative consequences, and either we win or China will win, Karp told CNBC's Squawk on the Street. He emphasized that the U.S. currently holds an advantage due to corporate willingness to embrace new technologies, but said Western allies, particularly in Europe, are lagging behind and must learn from the U.S. approach. In the interview, Karp also addressed a recent New York Times report suggesting Palantir is assisting the Trump administration in gathering data on American citizens. He denied the claim, stating, We are not surveilling Americans. The Denver-based data analytics and AI software firm has gained 74% year to date as investors bet on the company's growing role in U.S. government contracts and defense applications. While the stock continues to outperform broader tech peers, Karp acknowledged investor concerns around its valuation. You don't like the price, exit, he said. This article first appeared on GuruFocus.
Axios
37 minutes ago
- Axios
Private equity firm EQT to buy biomethane producer Waga
Private equity firm EQT on Friday said it's agreed to acquire Waga Energy, via a two-part deal that would value the French biomethane producer at over $600 million. Why it matters: This could set up expansion for Waga into the U.S., where biomethane may be one of the few types of renewables unhampered by the Trump administration — given that it utilizes existing natural gas infrastructure. It also appears to be the first renewable natural gas deal for EQT (the global private equity giant, not the Pittsburgh-based energy producer). Zoom in: EQT agreed to initially buy a 54.1% stake for €289 million, or €21.55 per share (27% premium to yesterday's closing price). Once that tranche closes, EQT would launch a mandatory tender for the remaining shares.
