I think they tried to tell the fans the most successful clubs play in red, so they're changing to red to be more successful. It was some nonsense along those lines.
Wasn't another theory that red is considered lucky in the East?
That was the top and bottom of it, wasn't it? Their owner's a bit mental and decided they needed to change to red to bring them luck, in most ways he probably feels vindicated after seeing them finally make the top flight.