Reading FC takeover collapses

A deal to purchase Reading football club has collapsed after weeks of negotiations and optimism.

Former Wycombe owner Rob Couhig and his consortium had loaned the club around £5m and he'd widely let it be known he was on the verge of taking over. Even telling fans a few weeks ago at the Wigan game that the deal would be done 'in days'.

More recently Mr Couhig appeared at a bar in Reading popular with supporters and wearing a Reading tracksuit top to tease that he was getting some business done.

Just last week manager Ruben Selles told us he believed Mr Couhig was not the sort of person to give up, but it seems the current club owner has pulled the plug.

This afternoon the club confirmed the collapse in a statement:

"Over recent weeks and months, Mr Dai and his representatives have been in exclusive dialogue with a potential purchaser. Despite lengthy and complex negotiations, the parties have been unable to find an agreement. This exclusivity period has now expired, and the Club will pursue alternative options.

"The Club acknowledges and appreciates the financial support provided by the potential purchaser during recent months. All loans have now been paid back to the potential purchaser in full along with the accrued interest.

"Whilst an agreement was not found on this occasion, Mr Dai remains committed to the sale of Reading Football Club and provisions are in place to fund the Club until a transaction is completed.

"The Club would like to thank all stakeholders, especially its staff and supporters, for their continued patience and will communicate further updates once appropriate."

Fan reaction

Fans have taken to social media to give their reaction to the news:

The sell before we dai campaign group posted before the club statement:

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