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Thai Consortium Completes Takeover Of League Championship Side Reading

A Thai consortium "successfully completed a takeover" of League Championship side Reading, according to the BBC. The partnership with the group, led by businesswoman Khunying Sasima Srivikorn, "was first announced in July." She "will now become co-chairman with Sir John Madejski, who has been with the Berkshire club since 1990." The amount of money involved in the takeover "has not yet been disclosed." But, under the agreement, Sasima and Khun Sumrith Thanakarnjanasuth "have each bought 25% of the club." The other 50% of the shareholding in the club "has been bought by Khun Narin Niruttinanon" (BBC, 9/19). GET READING's Jonathan Low wrote Nigel Howe "will remain as chief executive and Ian Wood-Smith as non-executive director." Madejski said, "Over the past year, since the Zingarevich family left, we have engaged with a number of different prospective investors, but we have now succeeded in finding who I believe are the right people to take this club forward" (GET READING, 9/19). The READING CHRONICLE reported while little is known about the club's new owners, "it marks a historic moment in the club's history after almost a quarter of a century with Madejski's at the helm." The club was "in desperate need of fresh investment when Anton Zingarevich failed to see through his own takeover." It left the club millions in debt to the point where Adam Le Fondre "had to be sold to Cardiff City to pay a tax bill" (READING CHRONICLE, 9/19).

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