Reading's Russian takeover complete (From Daily Echo)

Reading's Russian takeover complete

3:44pm Tuesday 29th May 2012 in Premier League

Anton Zingarevich has finally completed his takeover of Barclays Premier League new boys Reading.

The mega-rich Russian businessman agreed to buy 51% of the Royals from John Madejski in January through Thames Sport Investment, owned by Zingarevich.

The deal had hoped to have been completed in March but delays meant approval has at last been cleared today, exactly six weeks after manager Brian McDermott guided the Berkshire outfit to promotion from the npower Championship.

A statement released by Reading read: "Reading Football Club are pleased to announce that a 51% acquisition by Thames Sports Investment (owned by Anton Zingarevich) has now been completed, complying with all Premier League and Football League requirements.

"Four additional directors have been added to the Reading Football Club board chaired by Sir John Madejski, namely Anton Zingarevich, Christopher Samuelson, Andrew Obolensky and chief executive Nigel Howe. Ian Wood-Smith also remains a director.

"The football club and TSI would like to thank both the Premier League and Football League for their assistance, and we now enter another bright new era for our historic club, back in the Barclays Premier League."