Uncategorized

Ex-CEO of EFL files £10 million lawsuit against Reading owner following unsuccessful takeover bid, despite providing £5 million loan to League One club

READING is currently facing a £10.3 million compensation lawsuit initiated by former Wycombe owner Rob Couhig.

The American attorney has informed SunSport that he has lodged a claim in the High Court against Renhe Sports Management — the company through which Chinese businessman Dai Yongge owns Reading.

Rob Couhig is seeking £800,000 in expenses and £9.5m in potential lost profits following Dai Yongge's withdrawal

1

Rob Couhig is seeking £800,000 in expenses and £9.5m in potential lost profits following Dai Yongge’s withdrawalCredit: Rex

Couhig is claiming £800,000 for costs and £9.5 million for anticipated lost profits after Yongge withdrew from a £30 million deal to purchase the League One club in September.

After settling on a sale price last summer, Couhig put in around £5 million to help cover the Royals’ operating expenses.

All required documentation to finalize the transaction was prepared — except for Yongge’s signature.

To Couhig’s surprise, he received an email from the club in September indicating that the deal was off.

Following this, Yongge entered exclusive discussions with another prospective buyer, whose identity remains undisclosed.

RSM has been reached out to for comments.

Couhig stressed his support for the interests of the League One club’s manager Ruben Selles and the team.

He stated: “I would much rather complete a deal to acquire the club than to claim these damages.”

BEST FREE BET SIGN UP OFFERS FOR UK BOOKMAKERS

“I genuinely wish for the club to finalize a transaction before January so we can start making progress. Yet, no one at Reading has had the courtesy to call me and say, ‘We don’t like X, we prefer Y’.”

“I made it clear from the very beginning that I am not a bank. I was simply lending them funds to buy the club.”

Reading fans are upset as the owner sells the training ground to EFL rivals Wycombe

“I feel terrible for Ruben and the players.”

“I have tried to stay out of the spotlight, which is why I have chosen not to speak out.”

“But enough is enough. I’m at my breaking point and had to take action.”

Couhig has consistently asserted that his offer still stands.

Former Reading chairman Roger Smee revealed that Yongge has also rejected his offer to buy the club.

Leave a Reply

Your email address will not be published. Required fields are marked *