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Championship club Reading will receive investment from Thames Sports Investment Ltd, subject to due diligence and Football League approval.

They have signed a tentative agreement to own a "significant holding".

John Madejski will remain chairman, a role he has held since 1990, until at least 2014 and will become life president if he steps down.

TSI plan to provide "some limited funding" for the first-team squad in the current transfer window.