READING is facing a £10.3 million compensation lawsuit filed by former Wycombe owner Rob Couhig.

The American attorney has informed SunSport that he has lodged a claim in the High Court against Renhe Sports Management — the entity through which Chinese businessman Dai Yongge owns Reading.

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Couhig is seeking £800,000 for expenses and £9.5m for projected lost profits after Yongge withdrew from a £30m agreement to acquire the League One club in September.

After settling on a purchase price last summer, Couhig had provided the Royals with approximately £5m to assist with operating expenses.

All required documents to finalize the sale were ready — except for Yongge’s signature.

To Couhig’s surprise, he got an email from the club in September informing him that the deal was off.

Following this, Yongge entered exclusive talks with another prospective buyer whose identity has not yet been revealed.

RSM has been reached out for comment.

Couhig affirmed his backing for the interests of the League One club’s manager Ruben Selles and the players.

He stated: “I would much prefer to finalize a transaction to acquire the club than to win these damages.

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“I genuinely want the club to close a deal before January so we can start making progress. However, no one at Reading has had the courtesy to contact me and say, ‘We don’t like X, we want Y’.

“I made it clear from the very beginning that I am not a bank. I was simply providing them with funds to buy the club.

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“I feel terrible for Ruben and the players.

“I’ve tried to stay out of the spotlight, which is why I’ve refrained from publicly commenting.

“But enough is enough. I’m at my breaking point and needed to take action.”

Couhig has consistently said that his offer remains valid.

Former Reading chairman Roger Smee has revealed that Yongge has also rejected his bid to buy the club.