Asian consortium finalise Reading takeover

Reading Chairman Sir John Madejski during the FA Cup Fourth Round match between Reading v Sheffield United at Madejski Stadium on January 26, 2013
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Reading confirm that an Asian consortium has finalised a takeover of the Championship club.

Reading have confirmed that an Asian consortium has completed a takeover of the Championship club.

Chairman Sir John Madejski has revealed that the new partners will take 100% control of the club after the Football League approved the move.

The businessman will continue on as co-chairman alongside co-chairwoman Khunying Sasima Srivikorn, while Nigel Howe and Ian Wood-Smith will keep their roles as chief executive and non-executive director respectively.

In a statement on the club's official website, Madejski said: "After months of tireless hard work and a lot of speculation, I am very pleased to say that Reading Football Club's future has been resolved.

"Over the past year, since the Zingarevich family left, we have engaged with a number of different prospective investors, but we have now succeeded in finding who I believe are the right people to take this club forward.

"I cannot speak highly enough of our new partners from the time we have spent together so far. They have shown great professionalism, perseverance, patience and diligence and, on a personal level, our relationship is excellent and long may that continue. "

Reading are sixth in the Championship table after seven games.

Reading board member Anton Zingarevich watches the team on August 3, 2013
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