Reading FC taken over by Thai consortium, led by businesswoman, 76
Reading announced on Friday that a Thailand-based consortium has completed its takeover of the Championship club.
The Thai investors, led by businesswoman Khunying Sasima Srivikorn, first declared their interest in buying Reading in July and the deal has now been completed.
Khunying Sasima will become co-chairman with John Madejski, who has been with the Royals since 1990, ending months of uncertainty which saw majority shareholder Anton Zingarevich leave the board in June.
“I am delighted to announce that, following confirmation from the Football League, our new Asian consortium partners are now in place at Reading Football Club,” Madejski told Reading’s website.
“After months of tireless hard work and a lot of speculation, I am very pleased to say that Reading Football Club’s future has been resolved.”
Khunying Sasima told the club website when the deal was first announced in July: "I am absolutely delighted to be entering into this partnership with Sir John, and working with a club with such a strong reputation.
The 76-year-old Srivikorn, whose daughter is president of Bangkok FC, has held multiple high-powered positions in Thailand, including being the chairman of the President Hotel and Tower Co. Ltd.
She studied at the Guildhall College of Music and Drama in England before attending the Master of Public Administration (MPA) programme at Harvard University in the United States.
Zingarevich, who purchased a 51 per cent stake in Reading in May 2012, pulled out of a deal to complete a full takeover shortly after the Royals were relegated from the Premier League in 2013 and revealed his departure during the recent close-season.
During that time Madejski been searching for fresh investment and the hunt is over after Khun Narin Niruttinanon bought a 50 per cent stake, Khunying Sasima took 25 per cent and Khun Sumrith Thanakarnjanasuth bought the remaining 25 per cent.
Two other Thai members of the consortium will also join the club’s board, but Nigel Howe will remain as chief executive.
Reading finished seventh in the English second tier last season and are currently sixth after recording four wins from their first seven matches.- AFP