A Russian-led investment company has agreed to take a large stake in Championship club Reading. Thames Sports Investment, founded by Russian Anton Zingarevich, have reached an outline agreement with long-standing club owner John Madejski on the deal.
Madejski said the takeover would represent "an incredible move forward" when completed.
"It's great news for the club and the fans and means we can get investment which is what we need," he told BBC Radio Berkshire.
"This represents an incredible move forward if it comes off. Overall this means long-term stability and it means going forward with an opportunity of building.
"It means we carry on as we are. There's no fundamental change, the ethos and the way we do things at Reading will continue in the same spirit and the same way." "TSI's financial support aims to allow the club to retain its best players and acquire additional players as the management team see fit," TSI said in a statement, adding that the deal was due to be finalised in March.
The takeover is now subject to due diligence and Football League ratification before the purchase of a 51 per cent holding can be given the thumbs up.
Madejski has been chairman of Reading for more than two decades and will remain in that role should the deal go through.
