Football

Reading takeover finally agreed

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Reading are on the verge of receiving a huge financial boost, as a Consortium based in Thailand have reportedly finalised a £26 million deal to buy 90% of the club.

The deal was confirmed by Sky Sports on Thursday, with an official announcement from the club expected within the next week.

Relief for Reading

Current owner John Madejski and Royals fans will be relieved to finally see the deal go through after problems had delayed the completion of a takeover which has looked inevitable for weeks.

The recent coup d'etat in Thailand had originally prevented difficulty in moving money from the country, hence the recent delay.

This was resolved but, just a few days before the takeover was announced on Thursday, it is alleged that lending company who had effectively taken control of the club due to significant debt problems  threw the deal into disarray as they supposedly demanded £500,000 in lawyers fees.

New hope for Adkins

Reading fans could have been forgiven for thinking the Thai consortium would never take control of the club but it seems Nigel Adkins can finally concentrate on making additions to the squad after all

Earlier Samrit Bunditkitsada, the leading figure in the takeover, told Adkins that he would be given £5-8 million to splash in the summer window. The Royals have already been linked with Cardiff attacker Joe Mason as a replacement for the departed Adam Le Fondre, who joined the Bluebirds earlier this summer.  

The Berkshire-based side will see this as a significant boost to their chances of returning to the Premier League in the near future - a future that looked bleak earlier this year after Madejski revealed the £21 million owed by the club.

Adkins must now act quick to snap up his targets before his young squad travel to Wigan in three weeks time for the opening game of the Championship season. 

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Topics:
Reading
Championship
Football

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