Redwood Holdings Limited has completed its takeover of English League One club Reading, with the deal including the Select Car Leasing Stadium.
Redwood is a subsidiary company of Dogwood LLC, which is owned by New Orleans-based Rob Couhig and Todd Trosclair. Couhig is the former owner of fellow League One club Wycombe Wanderers, which achieved promotion to the Championship for the first time during his tenure.
The acquisition includes 100% of the shares in Reading, as well as the stadium and the club’s Bearwood Park Training Ground.
The deal brings an end to the tumultuous tenure of former Reading owner Dai Yongge, who purchased a majority shareholding in 2017. Financial difficulties have led to Reading being deducted 18 points over the past three seasons, and in February the Chinese businessman was disqualified under the English Football League (EFL) owners’ and directors’ test.
The EFL has provided the final clearance required that places Reading under the ownership of Redwood. The league has worked closely with all parties over recent weeks to ensure a timely transfer of ownership.
Couhig and Trosclair will join Reading’s board with immediate effect, with Couhig to serve as chairman. Couhig is an investor, lawyer and entrepreneur. As well as Wycombe, he previously owned the New Orleans Zephyrs Minor League Baseball team.
Trosclair is the owner of All Star Electric, an electrical contractor based on the Gulf Coast of the US. He is also an investor in the real estate and hospitality sector.
Select Car Leasing Stadium was previously known as the Madejski Stadium after John Madejski, the former long-serving owner and chairman of Reading.
Select Car Leasing, a locally-based independent car and van-leasing business, took on the naming rights to the venue in 2021 as part of a 10-year deal. The company has been a partner of Reading since 2015, with its logo also featuring on the front of the club’s shirts.
