Hated former Newcastle owner Mike Ashley keen to buy 24,200-seater stadium as he looks to be new EFL team’s LANDLORD

MIKE ASHLEY is keen to take an interest in Reading.

But that’s as landlord, not owner.

Former Newcastle chief Mike Ashley is taking a keen interest in ReadingThe Sun

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Ashley could buy the Madejski Stadium, having already bought Coventry’s arena[/caption]

The billionaire businessman has looked at the struggling club.

And he wants to return to football after his exit from Newcastle.

But insiders say he would put his cash into the stadium like he did at Coventry.

Ashley bought the CBS Arena, previously owned by rugby club Wasps, in October last year.

Coventry reached a last-minute agreement with Ashley two months later to continue playing until the end of last season.

And they are still there today as they look to push up the Championship table.

Reading play at the Madejski Stadium, currently named the Select Car Leasing Stadium for sponsorship reasons.

The arena holds nearly 24,200 fans on match day.

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But the club is enduring a miserable time in League One after being relegated from the Championship last term.

The Royals sit second-bottom of the table following just five wins in 18 games.

They have also been docked four points this season for financial breaches.

In total, Reading have taken a 16-point hit in less than two years — with 10 of those coming in 2023.