Russian tycoon Anton Zingarevich has completed his takeover of newly promoted Premier League side Reading.

Zingarevich agreed to buy a 51 per cent controlling stake in the Royals in January through his Thames Sport Investment company but completion of the deal was delayed after initially being set for March.

However, a Reading statement confirmed on Tuesday that Zingarevich had now taken control of the club, which won promotion to the world’s most lucrative league after winning the Championship in April.

“Reading Football Club are pleased to announce that a 51 per cent acquisition by Thames Sports Investment (owned by Anton Zingarevich) has now been completed, complying with all Premier League and Football League requirements,” the statement said.

According to British press reports, Zingarevich’s family fortune is estimated at STG460 million ($A737 million).

The Russian tycoon also told the BBC last month the club was targeting a summer transfer spree to bolster the club’s squad.

“We have been scouting for the past three weeks and already have a shortlist, so we’ll see what happens,” Zingarevich said.

“We will definitely make some moves.”