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Davido’s Revelation: Leaving a $60 Million Home to Pursue Music Passion

May 23, 2023 Alan

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Reading FC’s owner, Dai Yongge, is facing significant hurdles in his efforts to sell the club, with recent developments complicating the situation even further. A London court has now revealed that Yongge has failed the Owners’ and Directors’ Test, adding yet another layer of difficulty to his attempts to find a buyer. Legal Dispute and Allegations of Failed Takeover The Chinese businessman is currently embroiled in a legal battle with former Wycombe Wanderers owner Rob Couhig. Couhig claims that he lent Reading FC £5 million as part of an attempted £25 million takeover, which ultimately fell apart in September 2024. Despite Reading’s assertion that they had repaid all loans with interest, Couhig has taken the matter to court, seeking £800,000 in costs and £9.5 million in potential lost profits. Couhig’s legal action has not only led to financial tension but also blocked Yongge’s efforts to sell the club to a potential buyer, further complicating the situation. In response, Yongge sought to obtain an injunction against Couhig, trying to prevent the lawsuit from derailing his sale plans. Failed Owners’ and Directors’ Test Puts Sale at Risk However, the court hearing on Friday morning brought a new blow to Yongge’s ambitions. It was revealed that he failed the Premier League’s Owners’ and Directors’ Test due to outstanding debts in China. This test is critical for any individual seeking ownership or a directorial role in a football club, as it ensures they meet financial and legal requirements. A failure of the test, which can be triggered by issues such as financial instability or criminal convictions, is a major setback for Yongge’s prospects of selling Reading. The news that he has failed the test could jeopardize any potential sale of the club, as it reduces his credibility as a suitable owner. Yongge has already entered talks with an anonymous buyer, but this latest revelation will likely make it harder for him to finalize any deal. Reading’s Decline and Fan Protests Under Yongge’s Ownership Yongge’s time at Reading FC has been marked by financial struggles and declining performance. Since taking over the club in 2017 with his sister Dai Xiu Lui, Reading has fallen from Premier League aspirations to their current position in League One. Fans have been particularly vocal in their discontent with Yongge’s leadership, culminating in a mass protest during a match against Port Vale in January 2024. The game was abandoned after just 16 minutes when supporters stormed the pitch, demanding that Yongge sell the club. The “Sell Before We Dai” fan group, which aims to push Yongge out, made it clear that their efforts were far from over, issuing a warning to the owner to sell the club before more drastic measures were taken. Despite these protests, Yongge remains in control, and Reading currently sits in eighth place in the third tier of English football. The Future of Reading FC and Yongge’s Role With the legal battle, failed ownership test, and ongoing fan protests, the future of Reading FC under Dai Yongge’s leadership remains uncertain. While the club’s current position in League One is far from ideal, the situation could become even more complex if Yongge remains unable to sell. As fans continue to push for his departure, it remains to be seen whether the club will be able to turn the page or if Yongge’s reign will continue in the face of mounting pressure.b

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