Reading FC have confirmed the completion of a takeover by a Thai consortium.
Chairman John Madejski has confirmed he has handed over 90% of the club in a sale worth around £26 million.
The consortium is led by Khunying Sasima Srivikorn but also heavy backed by billionaire Samrit Bunditkitsada, who part owns Thai club Police United.
Madejski announced the following to the media:
“I am delighted with these developments and would like to officially welcome Khunying Sasima to Reading Football Club.
“The club were not intending to make any comment until all the formalities have been completed, but for the sake of clarity we believe it is in everyone’s interest to release this statement now.
“Upon the completion of all the necessary procedures we will of course update everyone further, and in the meantime I am sure you share my excitement at the possibilities ahead.”
Khunying Sasima added:
“I am absolutely delighted to be entering into this partnership with Sir John, and working with a club with such a strong reputation.
“I and my fellow investors look forward to supporting Sir John and working toward a successful future together.
“We still have some formalities to complete and plenty of work ahead of us – but we are excited about what lies ahead.”