JAAP Stam is set to be unveiled as the new Reading FC manager early next week.

Betting has now been suspended on the ex-Manchester United defender taking over the reins at Madejski Stadium.

As the Reading Chronicle reported yesterday, Royals will not make an announcement while co-chairman Sir John Madejski and chief executive Nigel Howe are both in Portugal for a Football League Owners' & Executives meeting.

The pair are due back over the weekend, with Reading likely to call a press conference at some stage on Monday.

Stam is believed to have agreed a two-year deal at Madejski Stadium, with the option of a third year.

It is thought the former Netherlands, Lazio and Milan star will be joined by Andries Uldrink and Said Bakkati as his assistants, having worked with them when coaching the Jong Ajax reserves side, a role Stam recently left.

It was while working at Ajax that 43-year-old Stam also came across Reading's new director of football, Brian Tevreden, who is leading the search for a manager along with Pairoj Piempongsant.

It is not known whether current first-team coach, Steven Reid, will stay with the Royals under the new backroom set-up.

Stam, who took part in Soccer Aid at Old Trafford on Sunday, has just received his UEFA Pro Licence and has always expressed an interest in coaching abroad.

“It's not that I do not want to work in the Netherlands but going abroad is my preference,” he recently told Dutch media.

“Ajax wanted me to stay, but they know my ambition.”

Stam has previous experience of management following a spell as interim coach and assistant manager at FC Zwolle before he joined Ajax.

A poll on the Reading Chronicle website showed Royals fans were still undecided over Stam's appointment, with 53% saying they do not want him in charge and 47% stating they do.

Stam will replace 2012 Championship title-winner Brian McDermott, who was axed a fortnight ago just 161 days into his second stint in the hotseat, after Reading laboured to 17th place in the Championship last season.