Reading take over officially completed | OneFootball

Reading FC's new era has begun with the official announcement of Redwood Holdings Limited taking over the company.

The Royals were in dire straits under former owner Dai Yongge and the EFL needed to grant the club extensions to find new ownership after the Chinese businessman was disqualified back in March.

Former Wycombe Wanderers owner Rob Couhig and his business partner Todd Trosclair have now completed a 100% takeover of the club with the deal being finalised earlier today.

"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," a statement from the club said today.

The news will be a relief to fans who previously had worried about the future of the club.

Reading finished seventh in League One this season, just three points off a play-off place despite off-field issues.