Zingarevich to complete Reading FC takeover this weekBy Jonny Fordham
April 26, 2012
Anton Zingarevich's £25 million takeover of Reading FC will be completed this week, according to chairman Sir John Madejski.
The deal has been fully agreed and Royals are waiting for the Football League and Premier League to finish their background checks into Zingarevich’s finances.
The 30-year-old Russian, who is the son of billionaire timber tycoon Boris Zingarevich, was originally due to purchase 51 per cent of the club by March 31.
But Madejski said last week that despite the delay, the takeover would go through this week.
“All bodes well for Reading Football Club,” said Madejski, who turns 71 on Saturday.
“Let’s dot the i’s and cross the t’s. Let’s make sure, perfectly sure, that what’s going forward is going forward and so therefore everybody’s happy.
“I’m sure it’s going to happen but I think it is right and proper that the league have got to be very circumspect.
“We want to make sure that the deal is completely watertight for the sake of the club going forward. But that should all pan out.
“All these questions will be answered substantially and at the end of the day the Premier League are not going to allow people into the league unless they are fit for purpose and indeed that they’ve got the money to do what they say they are going to do.”