READING are officially under new ownership and controversial former owner Dai Yongge has now divested from the club, the English Football League has announced.

The league said that 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.

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 were involved in a number of exclusivity agreements with interested parties, which ultimately lapsed, prior to the sale.

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.”