Reading takeover finally COMPLETED as crisis club release statement after being saved from brink of going bust
THE takeover of Reading FC has officially been completed.
Redwood Holdings Limited have finally put pen to paper on a deal that sees them acquire 100 per cent of the League One club.
As a result, Rob Couhig – the owner of the company – will become chairman.
Co-owner Todd Trosclair has joined the board with immediate effect.
A statement read: “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% 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.”
It concluded: “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.”
THIS IS A DEVELOPING STORY..
The Sun is your go to destination for the best football, boxing and MMA news, real-life stories, jaw-dropping pictures and must-see video.Like us on Facebook at https://www.facebook.com/TheSunFootball and follow us from our main Twitter account at @TheSunFootball.