Royals Make £1 million Loss

By Rob Cooper
Last updated : 14 November 2002
John Madejski
John Madejski
John Madejski, who dreams of seeing his side in the Premiership, admitted that finances are tight with the Royals making a £1 million loss.

Madejski, who reportedly has £250 million in the bank, has ploughed millions into Reading Football Club, helping to build the magnificent all seater ground the team now plays at.

Fans have been suggesting that the chairman should reach for his cheque book once more in an attempt to make Matthew Upson's loan signing permanent and help realise the Premiership dream.

However, it looks unlikely that the Royals will be making any mutli-million pound signing in the near future.

Madejski told Reading World: "Fans don't ask too much about the finances of the club. Last year we made a £1 million trading loss, and I had to pay out £580,000 in players bonuses and to other clubs for players we have got here.

"Money is tight here but we are better off than most clubs."

Many people have suggested salary capping in the Nationwide League would be a good idea in recent days and the Royals chairman was quick to jump on the bandwagon.

He admitted: "Salary capping is a good idea. I don't want to price football out of the markjet place, and we, to a large extent, have to pass the cost of running the club onto the supporters. But the time will come when enough is enough!"

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