Rob Couhig's takeover attempt of Reading Football Club has collapsed, with other parties returning to the table.
The 75-year-old had been close to being named the new owner for the last three months, funding the club over the summer and meeting supporters at the SCL Stadium on multiple occasions.
It had been hoped that the former Wycombe Wanderers chief would bring to an end seven years of pain under Dai Yongge, the Chinese billionaire who has been the subject of protests for the last 12 months.
However, the final contract could not be signed and Couhig has exited the process.
According to BBC Radio Berkshire, Couhig has been paid-up in full for his loans and the club will be kept afloat, short-term, by a sell-on fee received for Michael Olise.
With no apparent queue of potential bidders, the long-term future of the club has been plunged back into serious doubt.
The club are yet to comment.
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