Reports are emerging that Zingarevich is looking for someone to buy his 51% stake which he purchased from chairman Sir John Madejski 16 months ago.
Russian businessman Zingarevich was due to acquire the remaining 49% for around £20 million from Sir John before the end of September through his Thames Sports Investment company.
However, when he failed to meet that deadline there were mounting concerns over his long-term commitment to the Royals.
Zingarevich, who studied at nearby Bearwood College, could now be on the verge of selling his stake in the Royals, possibly to a consortium from the Middle East.
Reading FC declined to comment on the rumours earlier today.
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