Still no approval of Reading FC takeover dealBy Jonny Fordham
May 11, 2012
The Premier League have declined to say when Anton Zingarevich’s takeover of Reading Football Club will be approved.
Sir John Madejski has long since agreed to sell 51 per cent of the club to the Russian millionaire – and more than 40 days have now passed since the original target date for completion of March 31.
The fit and proper person checks are still on-going, but there is no indication that the Premier League are any nearer to giving the green light to the the deal.
A Premier League spokesperson declined to comment on how much longer their enquiries would take, saying only: “It’s an ongoing process.”
Royals insist that the League are currently going through all the relevant paperwork and have not set or given a deadline.
On Friday, April 20 Sir John said that the deal would be completed “within a week”, while Zingarevich told the Reading Post on Wednesday, May 2 that a resolution was “not far away”.
Zingarevich and his Thames Sport Investments business partner Chris Samuelson, then under the company name of Fortress Sports Fund, failed in a £20million investment at Everton in 2004.
And Royals fans have begun to express guarded scepticism on message boards and social networking sites as they wait anxiously for news on the takeover.
Manager Brian McDermott will be keen to see Zingarevich confirmed as the club’s new owner as soon as possible.
Royals’ boss needs funds to bolster his Championship-winning squad as they prepare for life in the Premier League. And he is already well under way with plans to ensure the club’s survival in the top flight next season.
McDermott said: “We sorted the budget before the season ended.”
And he will be anxious not to miss out on any targets by getting them through the door at Madejski Stadium sooner rather than later.