Reading hit with winding-up petition by former chief executive

[morganb]

Reported by the Telegraph -

Reading have been hit by a winding-up petition by their former chief executive.

Nigel Howe is attempting to liquidate the League One club less than seven months after Dai Yongge was finally forced out as owner.

Reading were bought in May by former Wycombe Wanderers owner Rob Couhig and his business partner Todd Trosclair via investment vehicle Redwood Holdings.

Howe, a property developer and nephew of former England coach Don Howe, had been tasked by Yongge last year with overseeing the sale of the club. Howe had more than one stint as chief executive and also served as vice-chairman.

Reading said in a statement: “Reading Football Club confirms that it is in an ongoing dispute with Mr Nigel Howe. The club denies any claims made against it. Given the ongoing dispute and potential legal proceedings, the club will not be making any further comment at this time"

https://www.telegraph.co.uk/football/20 ... as%20owner.

[RG30]

Reading have been hit by a winding-up petition by their former chief executive.

Nigel Howe is attempting to liquidate the League One club less than seven months after Dai Yongge was finally forced out as owner.

Reading were bought in May by former Wycombe Wanderers owner Rob Couhig and his business partner Todd Trosclair via investment vehicle Redwood Holdings.

Howe, a property developer and nephew of former England coach Don Howe, had been tasked by Yongge last year with overseeing the sale of the club. Howe had more than one stint as chief executive and also served as vice-chairman.

Reading said in a statement: “Reading Football Club confirms that it is in an ongoing dispute with Mr Nigel Howe. The club denies any claims made against it. Given the ongoing dispute and potential legal proceedings, the club will not be making any further comment at this time.”

Telegraph Sport has approached the law firm representing Howe and the English Football League for comment.

May marked the end of Dai’s turbulent ownership of the club. During his tenure, Reading were placed under a number of transfer embargoes and deducted a total of 18 points.

In a statement at the time, Reading said: “The club are pleased to announce that Redwood Holdings Limited – a subsidiary company of Dogwood LLC, owned by Rob Couhig and Todd Trosclair of New Orleans, Louisiana – has completed the acquisition of 100 per cent of the shareholding in Reading Football Club.

“The takeover, which has received EFL clearance, completed very early on Wednesday morning and includes the Select Car Leasing Stadium and Bearwood Park training ground. Both Couhig and Trosclair will join the club’s board with immediate effect, with Rob Couhig being named as chairman.

“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.”

Under Yongge’s ownership, the men’s side were relegated to the third tier while the women’s team withdrew from the Women’s Championship last year for financial reasons.

Previous negotiations for Couhig to purchase Reading broke down in September 2024, and in March of this year, Yongge – who was disqualified as a director of the club by the EFL – claimed Couhig was blocking his efforts to sell.

Reading were involved in a number of exclusivity agreements with interested parties, which ultimately lapsed, prior to the sale.

A statement from the supporters’ campaign group, Sell Before We Dai, said: “We are incredibly relieved and happy that Reading Football Club are finally under new ownership. It’s a day which we thought, at times, may never happen.

“In the eight years of the Dai Yongge era, every single element of our club went backwards. The first team were relegated, the women’s team were essentially folded and staff were made redundant as every operational element of the club was cut back to the bare bones.

“Those who remained were forced to work with tight budgets and under immense pressure. Sometimes they weren’t even sure if they’d be paid at the end of the month. Today is a day for celebration and that starts by welcoming Rob Couhig. Thank you for not giving up on us, thank you for saving our 153-year-old club from oblivion.”

[tidus_mi2]

I'd love to know the context behind this before I call Howe a oxf*rd but... he's always seemed like a bit of a oxf*rd.

[Dirk Gently]

Sometimes going to DEFCON1 like this is the only way to get someone to take a claim or dispute seriously. Whether he actually does want to see the club wound up is probably something quite different.

[Delboy]

I think he has not been paid the commission on the sale, Dai should pay but assume it was the club employing him at the time , Courig would counter claim against Dai .

[Sutekh]

[Snowflake Royal]

Howe can oxf*rd off

[Armadillo Roadkill]

I think he has not been paid the commission on the sale, Dai should pay but assume it was the club employing him at the time , Courig would counter claim against Dai .

Getting hold of Dai might be complicated.

[WestYorksRoyal]

Would have thought he's learnt by now not to play legal games with Couhig.

[Snowflake Royal]

You'd like to be paid for services rendered in selling the club?

You were hired by Dai, and you knew exactly what he was like, take it up with him... oh you can't? Tough.

You didn’t manage to sell the club. Couhig forced the sale that you failed to achieve through the Courts. Tough.

[The Royal Forester]

I thought I got off that damn Roller Coaster, but some idiot has dragged me back on.

[stealthpapes]

There has been a constant mood music behind the scenes that things have not been as smooth or as sorted as they could be.

I kinda expect more along this sort of line.

[windermereROYAL]

Effing hell, even if he wins it`s hardly going to bankrupt the club is it?
So he wants paying for doing next to fuck all for two years is he?
I`m confident Couhig can kick his useless arse into next year.

[Uke]

There has been a constant mood music behind the scenes that things have not been as smooth or as sorted as they could be.

I kinda expect more along this sort of line.

Very much this, something is not quite right.

I would put the blame on Dai rather than Couhig as I'm sure he would have left some booby traps that the Americans are becoming aware of on probably a daily basis.

[Brogue]

There has been a constant mood music behind the scenes that things have not been as smooth or as sorted as they could be.

I kinda expect more along this sort of line.

I hate to say I told you so ( not you personally SP) there is more to come btw. No one listened. He’s not the messiah. The stuff going on behind the scenes is certainly not going well at all. Couhig is a snake. #couhigout Howe is not the bad guy.

[Snowflake Royal]

What a shock. Another brogue bashing

[MartinRdg]

There has been a constant mood music behind the scenes that things have not been as smooth or as sorted as they could be.

I kinda expect more along this sort of line.

I hate to say I told you so ( not you personally SP) there is more to come btw. No one listened. He’s not the messiah. The stuff going on behind the scenes is certainly not going well at all. Couhig is a snake. #couhigout Howe is not the bad guy.

If it was anyone saying this....

[WestYorksRoyal]

The old regime was one of the most untrustworthy in the history of football. Jury is still out on the new guy, but bonkers to side with anyone associated with Dai when he barely see a fraction of what's really happening.

[Scutterbucketz]

There has been a constant mood music behind the scenes that things have not been as smooth or as sorted as they could be.

I kinda expect more along this sort of line.

I hate to say I told you so ( not you personally SP) there is more to come btw. No one listened. He’s not the messiah. The stuff going on behind the scenes is certainly not going well at all. Couhig is a snake. #couhigout Howe is not the bad guy.

So what is Howe’s play here? Because on the surface, given everything the club and all connected with it have been through, he certainly looks like the bad guy.

[Brogue]

There has been a constant mood music behind the scenes that things have not been as smooth or as sorted as they could be.

I kinda expect more along this sort of line.

I hate to say I told you so ( not you personally SP) there is more to come btw. No one listened. He’s not the messiah. The stuff going on behind the scenes is certainly not going well at all. Couhig is a snake. #couhigout Howe is not the bad guy.

So what is Howe’s play here? Because on the surface, given everything the club and all connected with it have been through, he certainly looks like the bad guy.

He’s owed 100k