sportskeeda
Reading is currently facing a £10.3 million compensation lawsuit initiated by former Wycombe owner Rob Couhig.
The American attorney has notified SunSport that he has filed a claim in the High Court against Renhe Sports Management — the group through which Chinese entrepreneur Dai Yongge holds ownership of Reading.
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Couhig is pursuing £800,000 to cover costs and £9.5 million in anticipated lost profits after Yongge withdrew from a £30 million deal to buy the League One club in September.
After agreeing on a purchase price last summer, Couhig provided Reading with around £5 million to support operational costs.
All necessary documents for closing the deal were ready — except for Yongge’s signature.
To Couhig’s surprise, he received an email from the club in September announcing the cancellation of the deal.
Yongge then entered exclusive negotiations with another potential buyer, whose identity has not been revealed.
RSM has been approached 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 finalize a deal to acquire the club than to win these damages.
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“I genuinely want the club to complete a sale before January so we can start working. However, no one at Reading has had the courtesy to reach out and say, ‘We prefer X and not Y’.
“I made it clear from the outset that I am not a bank; I was simply lending them money to acquire the club.
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“I feel terrible for Ruben and the players.
“I’ve tried to minimize distraction, which is why I’ve held back from speaking up.
“But enough is enough. I’ve reached my limit 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 bid to purchase the club.
