READING has finally been sold which spells the end of Dai Yongge’s controversial ownership.
The Royals confirmed in a long-awaited statement on Saturday morning that a deal was finally agreed.
Redwood Holdings Limited will become the new legal owners of the League One outfit.
A Reading statement said: “Reading Football Club is pleased to announce the sale in principle of the club to Redwood Holdings Limited.
“The takeover includes the Select Car Leasing Stadium and Bearwood Park Training Ground.
“The formal completion of the transaction is subject to final legal technicalities but is fully expected to be completed shortly.
“Based on the agreement between the parties, the EFL has agreed to extend its deadline for the divestment of Mr Dai Yongge’s shareholding until its next Board Meeting on 8 May.
“Redwood Holdings Ltd is a subsidiary of Dogwood Football LLC, which is owned by Rob Couhig and Todd Trosclair of New Orleans, Louisiana.”
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