Madejski is stepping up his search for a new owner after Russian Anton Zingarevich was booted off the board this week along with fellow Thames Sports Investment directors Chris Samuelson and Andrew Obolensky.

It is thought Madejski has finally lost patience with Zingarevich, who failed to go through with his own takeover when he reneged on a promise to buy Madejski’s remaning 51% stake before last September’s deadline, having paid around £20 million for 49% in March 2012.

Reports suggest Samuelson and Obolensky requested to keep their places on the board of directors - and their combined monthly fees of around £40,000 - should Madejski sell up to a fresh investor. But reports suggest Burman refused to work with the pair and was prepared to walk away.

However, the path may now be clear for Burman to go ahead with his buyout and take 100% control of the club.

The 45-year-old was set to arrive in London last night (Wednesday) and will hold discussion with Madejski in the coming days.

The Indian, who owns IPL cricket side Kings XI Punjab along with badminton and kabaddi teams in his native country, is ready to invest heavily in the first-team squad and protect the club’s Category One Academy status.

Israeli billionaire Teddy Sagi has already held talks with the Royals in the past fortnight and there remains interest from parties in America, Ireland and Oman.

But it seems Burman is now the front-runner, though Madejski is certain to exercise extreme caution over any potential handover following Zingarevich’s botched attempt.

Madejski was eager to allay fans’ concerns by insisting the club is financially secure.

But it is clear Royals are looking for fresh investment after failing to win promotion back to the Premier League.

Reading’s finances have come under the microscope after it was rumoured striker Adam Le Fondre was sold to Cardiff City for around £2.5 million in order to pay a £1.6 million tax bill owed to HM Revenue and Customs.

It is understood Royals could be hit with another bill for a similar amount over the next few weeks.

However, Madejski released a statement which paints a much brighter picture of the club’s financial health.

He said: “As chairman, I would like to confirm that we have the necessary funding in place to safely take the club forward.

“Together, we continue to look for new ownership of the club and, as the wealth of speculation can attest, there has been plenty of interest but no firm offers.

“However, it is imperative that there is no rush to judgement and that we take the necessary time in choosing the right person for the future of Reading Football Club.

“While there is no takeover with any new investors, the process is ongoing. I would like to take this opportunity to assure our fans that the club is secure going forward.”

He added: “The club can announce that Directors Anton Zingarevich, Christopher Samuelson and Andrew Obolensky have left the board.

“I would also like to thank our supporters for their trust and patience during this period and their loyalty in renewing their season tickets for the 2014-15 season. During my 24-year tenure as chairman, I have always tried to be as open as possible with our fans - the lifeblood of this club - and as always we will continue to keep our supporters fully informed at every turn.

“However, I am sure everyone can appreciate that it would not be appropriate for me or anyone at the club to comment any further on matters regarding potential ownership and investment at this point in time.”

Reading FC recently released skipper Jobi McAnuff along with Mikele Leigertwood, Kaspars Gorkss, Wayne Bridge and Stuart Taylor in a bid to slash the wage bill.

It appears manager Nigel Adkins will rely heavily on a blend of experience and youth next season, with several players from the Under 21s promoted to the first-team.

Last week youngster Michael Hector and Jake Taylor were handed new contracts until 2016, with the option of a third year.