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Reading prayers could be answered as Americans launch bid

Reading Football Club are the subject of an imminent bid from a consortium from the United States of America, who are keen to take over the club.

Reading Football Club are attracting the attention of an American consortium, report the BBC.

It is understood that the US consortium, with a keen interest in sport, are set to make an imminent bid to take over the Berkshire club.

The club have been in need of investment since the absence of majority shareholder Anton Zingarevich, who has not visited the club since August. It is thought that Zingarevich is abroad, and no longer has the desire or interest to continue funding the football club.

Long-standing shareholder Sir John Madejski, who sold the club to Zingarevich in May 2012 following the club's promotion to the Barclays Premier League, claims that talks to bring about new investment are progressing well.

It was thought that Zingarevich would become sole owner of Reading Football Club in September 2013, but the Russian reneged on his original agreement and failed to complete the deal with Madejski.

Madejski admitted in December that he did not know of Zingarevich's whereabouts, nor whether he would be returning to the Madejski Stadium at any time.

Whilst the takeover by Zingarevich's Thames Sports Investment group promised investment in the club and playing staff ahead of their Premier League campaign, the club has spent just £10m on transfers in that time. His biggest single outlay was to sign Adrian Mariappa from Watford in the summer of 2012 for a fee of just £2.4m.

Zingarevich promised Royals fans that he would pump money into the club's academy at Hogwood Park, as well as providing an expansion to the Madejski Stadium that would enable a capacity in excess of 40,000.

He opted to replace Brian McDermott with former Southampton and Scunthorpe boss Nigel Adkins in March 2013 with his side 19th in the Premier League. Adkins was unable to keep Reading up, but has received no substantial financial backing from his owner in the transfer market.

It is a situation which has confused and angered fans of the club, which sits just one point outside the Championship play-off places.

At this moment in time, the identity of the US consortium is not being made public.

image: © crystian cruz

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