New Dawn for Reading: Redwood Holdings Ushers in Change

Reading FC has been taken over by Redwood Holdings Limited, ending Dai Yongge's controversial ownership. Yongge was ordered to sell due to failing the EFL's ownership test. The EFL worked to ensure a smooth transition, providing certainty for the club's community after financial difficulties.

Reading Football Club is entering a new era after being acquired by Redwood Holdings Limited, marking the end of Dai Yongge's contentious tenure.

Dai Yongge was required to sell the club after failing the English Football League's ownership test. Given extensions, terms were finalized with Redwood Holdings on May 3. The EFL facilitated this ownership change to provide stability for the staff, supporters, and community.

Under Yongge, the club faced challenges, including a points deduction last season for financial mismanagement. Fans hope for a brighter future as Reading seeks stability and success.

(With inputs from agencies.)