Reading Agrees to Sale of Football Club to Redwood Holdings

Reading Football Club said US financier Rob Couhig’s Redwood Holdings Ltd. has agreed in principle to buy the club.

The takeover includes Select Car Leasing Stadium and Bearwood Park Training Ground, Reading said in a statement on Saturday without disclosing the financial terms. Redwood is a subsidiary of Dogwood Football LLC, owned by Couhig and Todd Trosclair.

Bloomberg previously reported that a consortium led by Couhig had been in talks to buy Reading for about £30 million ($40 million), before discussions fell apart last year.

Current owner Dai Yongge had faced a deadline to divest his stake ...