Executive Transactions Mexican F1 Organizers Stage Promo Event Names In The News U.S. Investors Make Offer For Espanyol Real-Juventus Draws 8.1 Million On La 1 Fox Renews Serie A Rights In Latin America Brazilian Stock Car Round Moves Cities Flamengo Plans To Move Out Of Rio São Paulo Stadiums Nearing Beer Approval Euroleague Highlights Growth Since '00
SBD Global/April 30, 2013/FranchisesPrint All
EPL club Reading Owner Anton Zingarevich has insisted that the club is "in good financial shape despite dropping out of the Premier League," according to Nabil Hassan of the BBC. The Royals' relegation "was confirmed on Sunday," but Zingarevich said that "he will give Manager Nigel Adkins money for new signings to bounce straight back up." Zingarevich said, "We are in a good place financially. The club was run in a prudent way before [he took charge] and that is how it will be run in the future." Reading "will now miss out" on the new £5B ($7.7B) global TV deal, which would have earned them upwards of £100M ($155M), but will still receive in excess of £60M ($92.8M) over a four-year period in parachute payments. Zingarevich said, "Obviously the new TV deal for the Premier League would have helped, but we will come back in 12 months" (BBC, 4/29).