LONDON (Reuters) - Tycoon John Madejski is in talks to restructure a loan that backed the expansion of his property empire, the Financial Times said on Friday.
Madejski’s Sackville Properties has breached the covenants of a 51.8 million pound loan from Royal Bank of Scotland (RBS.L) that funded his property acquisitions, the newspaper said, citing accounts filed this week.
Madejski, the owner of Reading Football Club, has a range of commercial holdings from property to publishing.
Sackville Properties and RBS were not immediately reachable for comment.
Reporting by Karolina Tagaris; editing by Lincoln Feast