▁un ite ▁Reading ▁and ▁Oxford ," ▁he ▁explained . ▁" Every thing ▁in ▁the ▁world ▁that ▁cannot ▁pay ▁its ▁way ▁must ▁go ▁the ▁way ▁of ▁mer ger ▁to ▁combine ▁into ▁stronger ▁units ." ▁▁ ▁Max well ▁made ▁this ▁announ cement ▁on ▁a ▁Saturday ▁when ▁most ▁Football ▁League ▁clubs , ▁including ▁Oxford ▁and ▁Reading , ▁were ▁playing ▁League ▁fi xt ures . ▁Oxford ▁were ▁playing ▁away ▁at ▁Don c aster ▁Ro vers . ▁Jim ▁Smith ▁learned ▁of ▁the ▁announ cement ▁shortly ▁before ▁kick - off ▁at ▁Don c aster ' s ▁Belle ▁Vue ▁ground ▁from ▁John ▁Ley , ▁a ▁journalist ▁with ▁the ▁Oxford ▁Mail , ▁who ▁had ▁heard ▁the ▁news ▁from ▁another ▁news man ▁by ▁tele phone . ▁Smith ▁immediately ▁called ▁Max well ▁to ▁ask ▁whether ▁or ▁not ▁he ▁would ▁be ▁retained ▁to ▁manage ▁Th ames ▁Valley ▁Roy als , ▁and ▁was ▁told ▁that ▁he ▁would ▁be . ▁ ▁Max well ▁issued ▁a ▁statement ▁announ cing ▁that ▁Oxford ▁United ▁were ▁po ised ▁to ▁ac quire ▁Reading ▁by ▁purch asing ▁all ▁of ▁that ▁club ' s ▁issued ▁share ▁capital , ▁compr ising ▁ 7 3 , 0 0 0 ▁shares , ▁at ▁£ 3 ▁per ▁share ▁( a ▁total ▁cost ▁of ▁£ 2 1 9 , 0 0 0 ), ▁and ▁that ▁W aller ▁and ▁a ▁group ▁of ▁Reading ▁board ▁direct ors , ▁holding ▁a ▁majority ▁of ▁the ▁shares ▁in ▁Reading ▁F . C ., ▁had ▁" ir rev oc ably ▁accepted " ▁this ▁offer . ▁The ▁two ▁clubs ▁would ▁continue ▁separately ▁for ▁the ▁last