Money For Nothing

Rob Couhig is still looking to get a deal done to buy Reading FC, but is his takeover attempt still worth it?

Almost as ritualistic as when the FA Cup second round happens, so too is Reading FC’s ‘dire straight’ into Christmas and the January window. Last year we were hit with the bombshell that staff weren’t paid in the run-up to Christmas, because of the club’s seemingly eternal “cashflow problems”. Roll on 12 months and we’ve been gifted another ‘no real substance’ update on the ongoing-nowhere-fast takeover saga.

While we didn’t learn anything new, there are a couple of concerns we need to look at. It might be semantics, but that golden word “exclusivity” has disappeared. So, has it ended with no result again?

Cynics would have you believe Reading’s hierarchy lied in their October statement regarding this “new exclusivity,” in that no such party exists. While that does sound fanciful, could it be true? Disregarding the usual “in the knows” on Twitter, journalists have eventually found nuggets on the likes of Genevra Associates, Chiron Sports Group and later Rob Couhig. This time… zilch. It’s hard to deny that’s a little odd but let’s give Reading the benefit of the doubt here.

The only story that has broken recently regarding Dai Yongge selling the club is not only that Couhig still has some sort of hand in a deal, but that the American is taking Yongge to court over his bid falling apart in the final throws.

In my opinion, that’s clearly why this week’s statement came out, along with the growing uncertainty given the time from the club’s previous takeover update. But there was a much more unsettling foreshadowing in this latest statement, in “the club navigating cashflow challenges to meet its obligations”. It’s here I feel two narratives collide.

It’s a clear indicator players will likely be sold come January.

Unlike last year, this is our forewarning. Incidentally, this is also Dai and Dayong Pang unusually getting in ahead of any negative press and possible protest action from Sell Before We Dai etc. They know we’re waiting for their next misstep, not to mention the ramifications from the EFL and FA should anything disruptive happen.

They’ve learnt from last year when they told STAR they didn’t anticipate having to sell players to alleviate funding worries - only for Pang to reportedly call scouts who had visited the SCL, offering them deals for the likes of Nelson Abbey, Tom Holmes and Tom McIntyre.

Remember who was put in front of the press (or should that be thrown?) to try and style it out? Given Mark Bowen’s departure, a new patsy appears to have put himself in exactly the position they want him.

Attempting to keep things objective, it’s very easy to overanalyse the very little Couhig has put out there about his attempts to own Reading - easy because his actions have been met with near-total silence from the club and there is no real interview from the man himself. Reading didn’t even mention his name in the statements made at various junctures of the American’s bid.

Thus, when you seemingly don’t exist as far as Reading’s official media is concerned, you’re operating in your own world. Every comment and rumour can be twisted, so too any likes and shares on Twitter offering apparent affirmation, etc. Couhig is the protagonist in a drama we’re all creating among ourselves, as the club refuses to acknowledge his place within it. Therefore, his role in this story is easy to manipulate.

In a space of very few months he went from joint-villain in the Bearwood sale saga to an almost messiah-like figure when it looked like he was ending Dai’s reign in the summer. For me, he’s now in the dangerous territory whereby he can easily be painted as the antagonist yet again.

Reading FC stating in September that “all loans have now been paid back to the potential purchaser in full along with the accrued interest” sits at odds with Couhig reportedly feeling out of pocket. Then comes this looming court action, which will take months to even get before a judge, not to mention how likely (if at all) Dai and co are to comply with and take seriously. The accounts from last year are still to feature on HMRC’s portal!

I absolutely get the injustice Couhig feels in being played, especially if he’s out of pocket, but let’s look at the bigger picture here.

Assuming they exist, other apparently interested parties willing to take over at the SCL will be left in limbo, as will the club, which will only be whittled down. Thus, players will be sold in a few weeks because Reading FC can’t be taken over or secure funding due to ongoing litigation with Couhig.

The likely pending statements for the January window write themselves and, with it, Couhig will be the one blamed, despite his attempts otherwise.

Yet another textbook move from Dai’s toxic manipulation game. Therefore, it’s got to be asked of Couhig: is this worth it?

As STAR have said, “if Dai Yongge can find money to repay Rob Couhig – he can find money to fund Reading Football Club”. As has been said before, Reading’s owner is clearly playing a game and Couhig now needs to either step aside and accept defeat or maybe even call his bluff and see if there really is someone willing to step into his place.

Keep us onside, Rob. The longer this goes on, the less of a club there is for you to save and the harder any rebuild is going to be.