Samrit Bunditkitsada has completed his takeover of Reading FC according to Sky Sports.
It is believed that the Thai billionaire has bought 90% of the club from current Reading chairman Sir John Madejski, Although selling his shares in the club he will be staying on as president of the Royals.
The deal itself will cost Bunditkitsada £26m which is thought to of been over what was originally agreed between the two parties, however this extra fund is believed to be the legal fees which will cover Vibrac’s fee for brokering the deal.
The take over which was previously in the balance as of yesterday was salvaged after a compromise was reached during talks which stretch late into the evening.
Bunditkitsada at the Madejski Stadium.
Reading were reported to be £21m in the red but with the appointment of Bunditkitsada this will now be wiped clean, who has also promised to back current manager Nigel Adkins with a £5-8m war chest in the up and coming weeks.
An announcement from the club is expected in the near future.