Reading handed "limited funding"

Reading manager Brian McDermott will be granted "limited funding" by the club's new owners.

Thames Sports Investment have told the Reading's official website that discussions have already taken place regarding potential signings.

"Thames Sports Investment Ltd are very pleased to have signed heads of agreement with Sir John Madejski on Friday to acquire a significant holding in Reading," read a statement from TSI.

"The transaction is due to complete in March 2012, but the heads of agreement, as agreed with Sir John Madejski, includes providing Reading with some limited funding now to enable Brian McDermott and [director of football] Nick Hammond to strengthen the playing squad during this January transfer window.

"TSI have met with Brian, Nick and the club to begin this process."

TSI gained control of the Royals on Friday.