Madejski: There May Be No First Division Next Season

Last updated : 06 June 2002 By Rob Cooper
Reading chairman John Madejski has revealed that there may not be a division one next season because of the financial problems surrounding many clubs due to the collapse of ITV Digital. He also revealed that he is not prepared to go on bank rolling the football club any longer, suggesting that maybe he is coming to the end of his rag as chairman.

The popular chairman told "Everyone's in a state of limbo because nobody knows exactly what's going to happen. We don't even know if there's going to be a First Division next season."

"Fortunately, the court case is coming up in July against Carlton and Granada, and hopefully there will be a settlement. Hopefully we'll be able to get some funds to cover some of the costs incurred by believing we're going to get the £2.7 million."

There has been much talk of the proposed re-structuring of the Football League and maybe the inclusion of the Old Firm since the collapse of ITV Digital and it seems that whilst the talk has all been hushed over it is not dead and buried.

Madejski, ranked 135th in the Sunday Times Rich List 2002, added “I think its public knowledge that we lost over £1 million last season and I've lost another £500,000 to pay bonuses and dividends to get into Division One. Quite frankly I'm not prepared to go on bankrolling Reading Football Club”

After ten years as chairman it appears that the founder of Auto Trader is finally beginning to tire of the teams continual failure to deliver Premiership football on the pitch and does not want to have to continue to pay big money for the limited success that he has seen.