Madejski sold 51% of the club to Anton Zingarevich in May 2012 but the Russian is no longer involved. Madejski has been speaking to BBC Radio Berkshire.
"I will try not to make the same mistake again - a buyer who does not see the whole thing through"
Sir John, who has been Chairman of the club since 1990, admitted he's struggling with running the club again at the age of 72.
"It is very important we find somebody that's earnest about owning a British football club if they're foreign, and see the job through.
"Football is very mercurial and very expensive and it is not for the faint-hearted.
"The last six months have not been easy and it is still not easy. Football is very expensive and requires deep pockets, so no it has not been at all pleasant.
"Anyone who gets involved in football has got to have a big heart. Clearly we need someone with deep pockets. Any club does."
Good thing he managed to get a dig in at Anton. Reading through and through.
Tony Husband, BBC South Today Sports Editor had this to say:
"Zingarevich is a one-time Berkshire schoolboy who watched the club from the terraces. His retreat has never fully been explained. New investment is now a priority, even while Reading benefit from the parachute payment.
"I sense most at the Madejski Stadium would see promotion as more of a bail-out than the club hitting the jackpot."
What do you think? If you have any burning thoughts, leave them in the comments below...