(Bloomberg) -- American financier Rob Couhig has ended talks to acquire Reading FC from Chinese businessman Dai Yongge, creating continued uncertainty for the 152-year-old English football club.
The former owner of Wycombe Wanderers FC was leading a consortium, which was in advanced talks to acquire Reading for about £30 million ($40 million), Bloomberg News reported last month. The discussions fell apart after the parties failed to reach an agreement, according to people familiar with the matter, who asked not to be identified as the information is private.
Reading’s owner Dai wasn’t able to reach an agreement with a potential buyer after “weeks and months” of discussions, the football club said in a statement on Wednesday, without identifying the potential purchaser. The club said it will pursue other options, while Dai remains committed to the sale and provisions are in place to fund the team until a transaction is completed. Couhig declined to comment.
The third-tier club has struggled financially in recent years. Dai acquired the club, which is situated to the west of London, in 2017 when it was in the second tier. Under his ownership Reading has been docked a total of 18 points for breaking football’s financial rules, contributing to its demotion to the third-tier league. Reading has begun this season in average form, standing 12th in the league after five matches.
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