Reading Owner Comfortable with Finances following Relegation from the Premier League

Reading FC owner Anton Zingarevich has insisted that the club is on a safe financial footing despite the club’s relegation from the Premier League.

The Berkshire club were condemned to the Championship along with QPR following their 0-0 draw at the Madejski Stadium on Saturday afternoon.

Relegation could cost the Royals £60m ($93m) in television revenue, gate receipts and commercial revenue.

However owner Zingarevich said: “We are in a good place financially. The club was run in a prudent way before [he took charge] and that is how it will be run in the future.”

Reading will also miss out on the new television deal for the Premier League that is worth approximately £5bn ($7.7bn), but they will however receive in excess of £59m ($91m) over a four-year period in parachute payments.

“Obviously the new TV deal for the Premier League would have helped, but we will come back in 12 months,” said Zingarevich.

“I don’t want to think about what would have happened. We are focused on what we want to achieve in the next 12 months.”

Sheffield Halam University sports finance expert Rob Wilson also thinks the club will face up to relegation better than rivals QPR.

Wilson told BBC Sport: “I think to be fair to Reading, they spent very wisely. They didn’t get too ambitious. They spent some money but perhaps would have liked to have spent more.

“But you have to remember Premier League wages, salaries and transfer fees have been inflated for a number of years and irrespective of the fact they have been relegated, they’ve done themselves justice financially.

“I anticipate the fall from the Premier League won’t be anywhere near as severe as what it will be for teams like QPR because of the contracts they have signed players on.

“Reading have done it properly, so while it is a gloomy day, the future is certainly bright for the football club – certainly from a financial operation anyway.”