Championship: Sir John Madejski seeking new owner for Reading

Sir John Madejski: Reading chairman looking for a new owner

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Sir John Madejski has said that he is determined to find the right owner for Reading.

The 72-year-old sold his 51 per cent share in the Championship club to Russian businessman Anton Zingarevich in 2012.

Zingarevich was supposed to buy the remaining 49% from the Englishman in September to complete the takeover, but he did not meet the deadline and has not been seen at the club since.

Club chairman Madejski is now searching for a new buyer for Reading and admits that he is finding it tough to find a legitimate one.

"I will try not to make the same mistake again of finding somebody who doesn't see the whole thing through," he is quoted as saying in the Reading Evening Post.

"It's very important that we find somebody that can see the job done.

"It's an open secret that Reading is up for sale and somebody that has the deep pockets to purchase the club has a fantastic opportunity.

"Anybody that gets involved in football has to have a big heart to start off with. Clearly we need somebody with those deep pockets, any football club does.

"Football is very mercurial and it's not for the faint-hearted. It's not for people without very deep pockets, let's make no mistake about that."

Madejski added: "Football is very expensive. You need deep pockets.

"The last six months haven't been easy at all and it's still not easy. You have to do the best you can, but it hasn't been at all pleasant.

"There are always prospective buyers, but there is nothing firm at the moment."