Reading for sale: Former owner Anton Zingarevich leaves Reading board, confirms chairman Sir John Madejski

Zingarevich along with two other board members have left the club as Madejski calms fears over the financial future for the club

Nigel Adkins (left) with former owner Anton Zingarevich (PA)

Reading chairman Sir John Madejski has announced the departure of three board members while assuring supporters that funding is in place to take the club forward.

In a statement issued on Monday morning, Madejski revealed that former owner Anton Zingarevich and fellow Thames Sports Investment (TSI) directors Chris Samuelson and Andrew Obolensky have left the board.

Madejski clarified the situation on funding amid scaremongering after an HM Revenue & Customs bill last week forced the sale of striker Adam Le Fondre to next season's Sky Bet Championship rivals Cardiff.

He stopped short at naming any developments in terms of a new owner, but attempted to ease fans' concerns by insisting that money is in place to keep the club afloat while takeover talks continue with interested parties.

"As Chairman, I would like to confirm that we have the necessary funding in place to safely take the club forward," said Madejski.

"Together, we continue to look for new ownership of the club and, as the wealth of speculation can attest, there has been plenty of interest but no firm offers.

"However, it is imperative that there is no rush to judgement and that we take the necessary time in choosing the right person for the future of Reading Football Club.

"While there is no takeover with any new investors, the process is ongoing. I would like to take this opportunity to assure our fans that the club is secure going forward.

"The club can announce that directors Anton Zingarevich, Christopher Samuelson and Andrew Obolensky have left the board.

"I would also like to thank our supporters for their trust and patience during this period and their loyalty in renewing their season tickets for the 2014-15 season.

"During my 24-year tenure as chairman, I have always tried to be as open as possible with our fans - the lifeblood of this club - and as always we will continue to keep our supporters fully informed at every turn.

"However, I am sure everyone can appreciate that it would not be appropriate for me or anyone at the club to comment any further on matters regarding potential ownership and investment at this point in time."

Indian businessman Mohit Burman and Israeli billionaire Teddy Sagi are both known to be in talks to take over at Reading, with groups from the USA and Ireland also reportedly interested.

PA