In April, Reading chairman Sir John Madejski emphasised the importance of investment at the Championship club. Just over a month later, two men are jostling for position to take over the club Madejski's own money helped push up to the Premier League. Those desperate for the club are Israeli billionaire Teddy Sagi, who made his money through Playtech, a company that provides gaming software for bookmakers, and Mohit Burman, an Indian who part-owns IPL cricket team Punjab Kings XI.
Madejski took over Reading in 1991 and started a love affair with the club which would see his dream of Premier League football fulfilled 15 years later, as the Royals won the Championship in the 2005/06 campaign with a league-record 106 points and 99 goals scored. The club suffered relegation and then enjoyed promotion again, under Brian McDermott in 2011/12, before dropping back down to the Championship, where they remain. Now Madejski owns 49 per cent of the club, with Russian businessman Anton Zingarevich the other owner. The pair are expected to stay on as minority shareholders under either a sale to Sagi or Burman.
In both Sagi and Burman, Reading may have finally found someone who can not only support the club, but push it back to the Promised Land of the Premier League. Madejski has bemoaned that: "We know the voracious cost of running a football club is absolutely immense. People with that sort of money are few and far between."
However, with online casino games of the sort Sagi's Playtech provide helping ballon his personal fortunes to the £1.5 billion mark and Burman's Pavilion Sports also believing they have the cash to bankroll a promotion tilt and then Premier League-establishing drive, Reading might soon be serious players once again.
The Royals are thought to owe around £3.2m to the UK taxation authorities, something which means Madejski and Zingarevich are eager sellers. Reading could even be sold on for just £1, with the club's new owner then paying off total debts of £38m.
Reading manager Neil Adkins will hope the takeover saga does not linger on as a number of the club's players are being eyed by other sides. Striker Adam Le Fondre has already departed, heading for Championship rivals Cardiff City, while talented goalkeeper Alex McCarthy and 20-year-old midfielder Jordan Obita are on the radar of a number of Premier League clubs. Adkins will know if any promotion tilt is to stand a chance next season, he must either keep his best players or be handed the funds to sign suitable replacements.
Missing out on the playoffs by a single point this season was cruel on Adkins' men, who had genuine hopes of being involved in the promotion mix-up, but the truth is that the Championship may be even stronger next season. Both Cardiff and Fulham, who are coming down from the Premier League, are owned by billionaires intent on making their stay in the second tier a brief affair, while Norwich have also vowed to back new manager Neil Adams. The strength of the Championship is also added to by those clubs coming up from League One, with Wolverhampton Wanderers more than a big enough side to have promotion aspirations and full of confidence following a 103-point haul in their tier. Brentford and Rotherham, who join Wolves, are also not just eyeing making up the numbers.
It all creates a scenario which makes investment crucial for Reading. And investment must come quickly, as Championship rivals begin drawing up their playing and transfer budgets for the new season, which is sure to arrive quickly.
Photos courtesy: Richard Croft; Pyro
