Latest news with #RedwoodHoldingsLimited
Yahoo
15-05-2025
- Business
- Yahoo
'I stick with it,' new owner Couhig reassures Royals
New Reading owner Rob Couhig has called for Royals supporters to look to "the future" following the completion of his takeover. Reading's protracted ownership saga ended on Wednesday as the Royals confirmed Couhig and Todd Trosclair's Redwood Holdings Limited had purchased the club. Couhig had seen a previous attempt to buy the League One club collapse, and it took almost a year for the renewed deal to eventually go through. "It's great to finally, officially, be part of the Reading community and to get it over the line," 76-year-old American businessman Couhig told BBC South Today. "To be honest we thought about a year ago this would have been done [but] I'm a stick with it sort of guy, I don't give up and I don't give in. "My message to the fans right now is to not look back, it's all about the future, we're ready to go get it. "When I left Wycombe I was convinced I was done with English football, but the opportunity with Reading came up and I saw it as a great chance. "We recognise what a fantastic opportunity is here for us." While Couhig's arrival has been met with joy from Reading fans, there remains a sense of urgency as a number of their players are out of contract this summer. The club has been unable to fully operate in the transfer market for quite some time with embargoes preventing them adding to their squad. The new board and head coach Noel Hunt are hoping those restrictions quickly change. "We met with Noel when I was over last week and we have a plan," Couhig added. "We know what we want to spend and how we want to spend it, we know those players that we would love to have come back, and the players that might be better off somewhere else. "The good news is that a lot of people will want to come and play for us in this new era, if there is the odd person we have to buy from somewhere then we will do that, but we will be strictly financially sound." Couhig also revealed that former Royals chief executive Dayong Pang was "instrumental" in ensuring the deal was completed. Pang, part of the board under previous owner Dai Yongge, has been criticised by supporters on occasions but Couhig wanted to credit him for his help. In late 2024, some Reading fans visited Pang's London house and posted a letter through his door that expressed their concerns at the direction the club was going. Pang spoke publicly earlier that year when he asked for fans to be patient and reiterated the then-owner was committed to completing a sale. "Dayong Pang was very critical in helping to get this deal over the line," Couhig said. "I know people take shots at him but he was instrumental. Communication with Mr Dai never happened, I wouldn't recognise him if I saw him on the street." Companies House now show that Yongge and Pang have resigned from their posts as of 14 May, and Couhig is the new active director. Campaign group 'relieved and happy' after takeover Reading takeover completed as Couhig buys club
Glasgow Times
15-05-2025
- Business
- Glasgow Times
Reading takeover completed as Dai Yongge era finally ends
The league said it had provided final clearance under its regulations which places Reading under the ownership of Rob Couhig and Todd Trosclair and their company Redwood Holdings. The news marks the end of Dai's ownership of the club. During his tenure, the Royals have been placed under a number of transfer embargoes and been handed points deductions totalling 18 points. Reading Football Club is pleased to announce that Redwood Holdings Limited have completed their takeover of the football club. Statement in full 👇 — Reading FC (@ReadingFC) May 14, 2025 In a statement Reading said: 'The club are pleased to announce that Redwood Holdings Limited – a subsidiary company of Dogwood LLC, owned by Rob Couhig and Todd Trosclair of New Orleans, Louisiana – has completed the acquisition of 100 per cent of the shareholding in Reading Football Club. 'The takeover, which has received EFL clearance, completed very early on Wednesday morning and includes the Select Car Leasing Stadium and Bearwood Park training ground. 'Both Couhig and Trosclair will join the club's board with immediate effect, with Rob Couhig being named as chairman. '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. Rob Couhig is Reading's new owner (Bradley Collyer/PA) 'Further communication from Redwood will follow in due course.' Under Yongge's ownership, the men's side were relegated to the third tier while the women's team withdrew from the Women's Championship last year for financial reasons. They are now playing in the fifth tier having played in the Women's Super League as recently as 2023. Previous negotiations for Couhig, who is a former Wycombe chairman, to purchase the club broke down in September 2024, and in March of this year Yongge – who has been disqualified as a club owner by the EFL – claimed Couhig was blocking his efforts to sell. The club was involved in a number of exclusivity agreements with interested parties, which ultimately lapsed, prior to the sale. The mission of #readingfc fans is complete. Sold Before We Dai'd. — Sell Before We Dai (@SellBeforeWeDai) May 14, 2025 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. 'In the eight years of the Dai Yongge era, every single element of our club went backwards. The first team were relegated, the women's team were essentially folded and staff were made redundant as every operational element of the club was cut back to the bare bones. 'Those who remained were forced to work with tight budgets and under immense pressure. Sometimes they weren't even sure if they'd be paid at the end of the month. 'Today is a day for celebration and that starts by welcoming Rob Couhig. Thank you for not giving up on us, thank you for saving our 153-year-old club from oblivion.'
South Wales Guardian
14-05-2025
- Business
- South Wales Guardian
Reading takeover completed as Dai Yongge era finally ends
The league said it had provided final clearance under its regulations which places Reading under the ownership of Rob Couhig and Todd Trosclair and their company Redwood Holdings. The news marks the end of Dai's ownership of the club. During his tenure, the Royals have been placed under a number of transfer embargoes and been handed points deductions totalling 18 points. Reading Football Club is pleased to announce that Redwood Holdings Limited have completed their takeover of the football club. Statement in full 👇 — Reading FC (@ReadingFC) May 14, 2025 In a statement Reading said: 'The club are pleased to announce that Redwood Holdings Limited – a subsidiary company of Dogwood LLC, owned by Rob Couhig and Todd Trosclair of New Orleans, Louisiana – has completed the acquisition of 100 per cent of the shareholding in Reading Football Club. 'The takeover, which has received EFL clearance, completed very early on Wednesday morning and includes the Select Car Leasing Stadium and Bearwood Park training ground. 'Both Couhig and Trosclair will join the club's board with immediate effect, with Rob Couhig being named as chairman. '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. 'Further communication from Redwood will follow in due course.' Under Yongge's ownership, the men's side were relegated to the third tier while the women's team withdrew from the Women's Championship last year for financial reasons. They are now playing in the fifth tier having played in the Women's Super League as recently as 2023. Previous negotiations for Couhig, who is a former Wycombe chairman, to purchase the club broke down in September 2024, and in March of this year Yongge – who has been disqualified as a club owner by the EFL – claimed Couhig was blocking his efforts to sell. The club was involved in a number of exclusivity agreements with interested parties, which ultimately lapsed, prior to the sale. The mission of #readingfc fans is complete. Sold Before We Dai'd. — Sell Before We Dai (@SellBeforeWeDai) May 14, 2025 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. 'In the eight years of the Dai Yongge era, every single element of our club went backwards. The first team were relegated, the women's team were essentially folded and staff were made redundant as every operational element of the club was cut back to the bare bones. 'Those who remained were forced to work with tight budgets and under immense pressure. Sometimes they weren't even sure if they'd be paid at the end of the month. 'Today is a day for celebration and that starts by welcoming Rob Couhig. Thank you for not giving up on us, thank you for saving our 153-year-old club from oblivion.'
Reuters
14-05-2025
- Business
- Reuters
Reading takeover completed by ex-Wycombe owner Couhig
May 14 (Reuters) - Reading have been taken over by former Wycombe Wanderers owner Rob Couhig's company Redwood Holdings Limited, the English Football League said on Wednesday, bringing an end to Chinese businessman Dai Yongge's controversial era. Yongge was ordered to sell the second-tier Championship club in March having been disqualified under the EFL's owners' and directors' test. He was initially given until April 4 to complete the sale, but the EFL twice granted an extension to the deadline, with Reading agreeing terms with Redwood Holdings Limited over the sale on May 3. "Over recent weeks the league has worked closely with all parties to facilitate a timely transfer of ownership in order to end the uncertainty surrounding the club's future for its staff, supporters and wider community," the EFL said. "We look forward to working closely with the new ownership group and wish the club and its supporters a successful future following a difficult period for all associated with the club." Yongge, who took over Reading in 2017, has been blamed by fans for the club's problems after they had six points deducted last season for financial mismanagement. They also withdrew from the Women's Championship due to financial issues. Reading finished seventh in League One, one place behind Leyton Orient who took the final playoff place.
Rhyl Journal
14-05-2025
- Business
- Rhyl Journal
Reading takeover completed as Dai Yongge era finally ends
The league said it had provided final clearance under its regulations which places Reading under the ownership of Rob Couhig and Todd Trosclair and their company Redwood Holdings. The news marks the end of Dai's ownership of the club. During his tenure, the Royals have been placed under a number of transfer embargoes and been handed points deductions totalling 18 points. Reading Football Club is pleased to announce that Redwood Holdings Limited have completed their takeover of the football club. Statement in full 👇 — Reading FC (@ReadingFC) May 14, 2025 In a statement Reading said: 'The club are pleased to announce that Redwood Holdings Limited – a subsidiary company of Dogwood LLC, owned by Rob Couhig and Todd Trosclair of New Orleans, Louisiana – has completed the acquisition of 100 per cent of the shareholding in Reading Football Club. 'The takeover, which has received EFL clearance, completed very early on Wednesday morning and includes the Select Car Leasing Stadium and Bearwood Park training ground. 'Both Couhig and Trosclair will join the club's board with immediate effect, with Rob Couhig being named as chairman. '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. 'Further communication from Redwood will follow in due course.' Under Yongge's ownership, the men's side were relegated to the third tier while the women's team withdrew from the Women's Championship last year for financial reasons. They are now playing in the fifth tier having played in the Women's Super League as recently as 2023. Previous negotiations for Couhig, who is a former Wycombe chairman, to purchase the club broke down in September 2024, and in March of this year Yongge – who has been disqualified as a club owner by the EFL – claimed Couhig was blocking his efforts to sell. The club was involved in a number of exclusivity agreements with interested parties, which ultimately lapsed, prior to the sale. The mission of #readingfc fans is complete. Sold Before We Dai'd. — Sell Before We Dai (@SellBeforeWeDai) May 14, 2025 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. 'In the eight years of the Dai Yongge era, every single element of our club went backwards. The first team were relegated, the women's team were essentially folded and staff were made redundant as every operational element of the club was cut back to the bare bones. 'Those who remained were forced to work with tight budgets and under immense pressure. Sometimes they weren't even sure if they'd be paid at the end of the month. 'Today is a day for celebration and that starts by welcoming Rob Couhig. Thank you for not giving up on us, thank you for saving our 153-year-old club from oblivion.'
