Wolves defender Ivar Ingimarsson, who can also play in midfield, signed for the club on a two-and-a-half year contract. He will wear the number '16' shirt, previously the domain of Glen Little, and prior to that, legendary midfielder Phil Parkinson.
The 26-year-old Iceland international was this afternoon snapped up for a meagre £100,000. However, that fee could rise depending on appearances. Ivar's contract was due to expire at the end of the season so Madejski and his team were able to negoiate the cut-price deal.
Ivar should make his debut tomorrow evening as the Royals, short at the back, entertain Sheffield United at Bramall Lane.
New boss Coppell, who has worked with Ivar previously during spells at Brighton and Brentford, was pleased to have added weight to his somewhat sparsely populated squad.
"I am delighted to have signed Ivar today. He is obviously a player I know well and his displays have always been committed and whole-hearted," he explained.
Chairman John Madejski used some of the money West Ham paid as compensation for alan pardew to complete the transfer. The Royals chairman reckons that Coppell is spending the money carefully in signing such a respected footballer.
Speaking to the press the chairman said: "It is very pleasing that Ivar has become Steve Coppell's first signing as our new manager.
"We did not hesitate in backing Steve for this signing, and I have no doubt that Ivar will be very successful throughout his career with us. At this vital stage of the season he is a very important signing."
The signing of another centre-back strengthens competition at the back where Adie Williams and Steve Brown have been virtually guaranteed their first team spot in the past six months.
The deal came in the nick of time as Brown has heard that he will be joining crocked defender John Mackie on the sidelines. Brown is expected to be out for the next six weeks whilst it is thought that it will be a month before Mackie can return to first team action.
Whilst Reading MAD reckon the signing of Ivar is a good one for the club we believe it will be necessary for Mr Madejski to find the funds to bring in both a goalkeeper and a striker (on loan or permanently) if we are to mount a post-Christmas Play-Off charge.