Reading Football Club have confirmed that talks with American businessman Rob Couhig have ended.

The 75-year-old funded the club for months over the summer and were poised to take over. Having already had official photographs and assured supporters a deal was done, it failed at the 11th hour.

While Couhig is yet to comment, the club have confirmed that the former Wycombe Wanderers chief has been paid back in full and Dai Yongge will keep the club afloat until a new buyer is found.

"Reading Football Club would like to provide an update on the sale of the Club," a statement said.
 
"Over recent weeks and months, Mr Dai and his representatives have been in exclusive dialogue with a potential purchaser. Despite lengthy and complex negotiations, the parties have been unable to find an agreement. This exclusivity period has now expired, and the Club will pursue alternative options.
 
"The Club acknowledges and appreciates the financial support provided by the potential purchaser during recent months. All loans have now been paid back to the potential purchaser in full along with the accrued interest.
 
"Whilst an agreement was not found on this occasion, Mr Dai remains committed to the sale of Reading Football Club and provisions are in place to fund the Club until a transaction is completed.
 
"The Club would like to thank all stakeholders, especially its staff and supporters, for their continued patience and will communicate further updates once appropriate."