Thursday 31 July 2014 18:55, UK
Reading have revealed they are entering into a 'partnership' with a consortium led by 76-year-old Thai businesswoman Khunying Sasima Srivikorn.
The club announced on Thursday afternoon that a deal has been agreed with chairman Sir John Madejski to 'take Reading Football Club forward".
But both Madejski and Khunying Sasima stressed that the formalities are still to be completed.
"I am absolutely delighted to be entering into this partnership with Sir John, and working with a club with such a strong reputation," Khunying Sasima told the club's official website.
"I and my fellow investors look forward to supporting Sir John and working toward a successful future together.
"We still have some formalities to complete and plenty of work ahead of us - but we are excited about what lies ahead."
Madejski added: "I am delighted with these developments and would like to officially welcome Khunying Sasima to Reading Football Club.
"The club were not intending to make any comment until all the formalities have been completed, but for the sake of clarity we believe it is in everyone's interest to release this statement now.
"Upon the completion of all the necessary procedures we will of course update everyone further, and in the meantime I am sure you share my excitement at the possibilities ahead."
