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Club Confirm Takeover

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Following news earlier this week that the takeover was close, the club have released a statement confirming the final ratification of the takeover now that it seems the Football League have given it the final seal of approval.

Martin Willetts

Second Update: 19/09/14

The club has now officially released a statement from chairman John Madejski that ratifies the takeover of Reading FC by the Thai consortium following Football League confirmation.

Sir John confirms that he will stay on as Co-Chairman, working alongside Khunying Sasima Srivikorn as Co-Chairwoman. The takeover will be for 100% of the club, with 50% going to Khun Narin Niruttinanon, 25% to Khun Sumrith Thanakarnjanasuth and the remaining 25% to the aforementioned Khunying Sasima Srivikorn. They will all join the board of directors.

You can read the full statement from Sir John on the official website here.

Update: 19/09/14

As well as the info below, Miss Lewis has now tweeted the following.

If this is indeed correct we could see the final moves of this more than year long saga sooner rather than later!

******

In news that will come as a painful blow to conspiracy theorists and pessimists across Berkshire, it has been reported today that the takeover of Reading Football Club by a Thai consortium is very likely to be completed by the end of next week 'at the latest'. Sky Sports News reporter Amy Lewis has tweeted the takeover update, in a development that should finally put the anxieties of a long wait for new ownership to bed.

The Thai consortium will include investors Sasima Svrivikorn and Samrit Bunditkitsada alongside two other figures, although only the former has been officially confirmed by the club as being involved in the deal.

Reading have been sweating on the outcome of a long and arduous takeover saga that has crippled the club financially since former owner Anton Zingarevich's unexpected exit from the club in September 2013. In the time since then, Reading were unable to compete in the transfer market for the remainder of the 2013/14 season, have released several first-team regulars such as Jobi McAnuff and Kaspars Gorkss, and were forced into the sale of striker Adam Le Fondre early in the summer transfer window of this year to pay off a tax fee.

You can read the club's original official statement on the takeover here, but stay tuned to the Tilehurst End for all the latest developments as they come out.