READING FC's former majority shareholder Sumrith “Tiger” Thanakarnjanasuth has taken over the reigns at rivals Oxford United.

Following months of speculation, Tiger was announced as majority shareholder and chairman of the U's.

Tiger said: “First of all I want to say how exciting it is to become part of Oxford United. I have been to games recently and seen the passion of the fans and the ambitious way that the whole club is set up, not just the first team but also the Academy, the Community programme and the back office structure. "

"I would just like to say to the fans now that my ambitions match, and may even exceed, theirs.

"I know many fans are anxious to know our plans for the Head Coach position. In the past few weeks, a lot of progress has been made and I have been kept fully informed. Now that "I have been formally appointed as chairman, I will be looking to complete this process quickly so that we can provide further stability for the rest of the season."

Tiger was the majority shareholder of a consortium of Thai businessmen that took on Reading FC following Anton Zingarevich's reign.

They sold the club to its current Chinese owners after announcing they could no longer afford to keep Royals afloat.