Reading

Reading takeover edges nearer

By Pascal Lemesre, Football League Editor | 10 April 2012

Reading chairman of 22 years, Sir John Madejski, confirms that the takeover of the club by Thames Sports Investment is almost complete.

Reading chairman Sir John Madejski has confirmed that the takeover of the Berkshire club is almost complete.

The 70-year-old, who has owned Reading for 22 years, has agreed to sell 51% of his shares to Russian Anton Zingarevich, who leads Thames Sports Investment.

Madejski said that Zingarevich and TSI were the right people to sell to as they will not alter the club's ethos.

"They want to keep the same ethos," Madejski told BBC Sport. "They won't go throwing money about like drunken sailors. We've got such a great atmosphere and it will be tragic to see that change."

The takeover, which is currently being ratified by the Football League, was meant to be completed in March but has yet to come to fruition.

Madejski is certain however that the paperwork will be finalised soon as his club edge ever nearer to automatic promotion to the Premier League.

"Everybody does their tenure and 22 years is quite long enough. Anton is only 30 years old and will be able to take the club further and into Europe and all sorts," he added.

"It's good to leave when we are doing well, better than doing it when we're not, although I will stay on as chairman.

"I am able to hand over to someone who is able to take the club further and that is the dream ticket. Football clubs are pretty precarious things and it is all about having deep pockets."

A win for the Royals at Brighton this evening would see them draw level on points with league leaders Southampton and move six clear of chasing West Ham in third.