Rob Couhig is in advanced talks with Reading after resurrecting a deal to buy the troubled League One club and there is optimism he could be their owner by the end of April.
On Wednesday Reading confirmed they were in “dialogue with an alternative bidder” after an exclusivity agreement with Robert Platek, the owner of the Portuguese club Casa Pia, expired. It is understood the unnamed party pressing ahead to buy the promotion-chasing side is the former Wycombe owner Couhig.
Last week the English Football League granted Reading’s owner, Dai Yongge, an extension until 22 April to divest his shares in the club after he was disqualified under the league’s owners’ and directors’ test owing to debts and court rulings in China. The club said steps had been taken to ensure financial liabilities are met until the deadline. Reading risk being suspended from the league and potential expulsion if Dai does not sell the club this month.
Couhig, an American businessman and lawyer who was an integral part of Wycombe winning promotion into the Championship for the first time, wants to buy Dai’s shares in the club, the stadium and the training ground. Reading have been formally for sale for approaching 600 days and Couhig’s previous deal to buy the club collapsed in September.
In a statement on Wednesday Reading said: “Negotiations between the parties are proceeding in a professional and positive manner, with full recognition from all concerned of the need to bring a sale of the club to a conclusion for all stakeholders, including players, staff and supporters.”
Last month Couhig said: “Reading is a challenge of much bigger proportions than most people realise, when you start to turn the rocks over there are lots of snakes there … it has all the assets necessary to be a club that is customarily in mid-table of the Championship, with the potential of being in the Premier League.”
Reading are targeting promotion via the playoffs. Noel Hunt’s side beat Shrewsbury on Tuesday to move into sixth and visit Northampton on Saturday aiming for a third straight win.