Reading Owner Says Club In Good Financial Shape Despite Dropping From Premier League
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).