sport

Reading takeover group denied

Sky Sports understands a British consortium was overlooked in the battle to secure a takeover of Reading.

The Championship club are on the verge of being taken over by a Thailand consortium, fronted by businessman Samrit Bunditkitsada.

The club had been looking for new investors for several months and held talks with more than one party.

Former majority shareholder Anton Zingarevich bought 51 per cent of the Royals in May 2012 and had been due to complete a full takeover in October last year.

However, the Russian pulled out of the deal and the club have been looking for new investment ever since.

An American consortium were bemused that their offer for Reading was not considered in favour of the reported Thai consortium, who have been struggling to close the deal after Reading accepted their bid over the Americans.

It is also now understood that a British consortium lead by two well-known and experienced British football directors had also shown their ability to fund a well-structured offer for the purchase of the club, but were dismissed by the shareholders in favour of the unknown Thai group wishing to buy Reading.