Flush Royals' generous donation

The millionaire owner of Reading Football Club, nicknamed The Royals by fans, has struck a big money deal with the Royal Academy of Arts.

Publishing tycoon John Madejski has donated £3million of his estimated £180million fortune to the RA - which receives no government funding.

He has also lent the Piccadilly institution an Edgar Degas sculpture which he purchased at auction for more than £ 5million. It will go on display next month.

The RA has spent his donation on totally refurbishing six of its 18th-century rooms, which will open to the public for the first time next month. In all, the revamp cost £6million with the remaining £3million coming from a consortium of private donors.

From 12 March, the rooms will be dedicated to showing the finest works from the Royal Academy's permanent collection of art treasures.

The first rotating exhibitions in the rooms will include Constable's Leaping Horse, a selection of Turner prints, David Hockney's Double Study For A Closer Grand Canyon and self-portraits by Sir Joshua Reynolds and Thomas Gainsborough.

For two years, the rooms will also display Degas's sculpture Petite Danseuse De Quatorze Ans, which Mr Madejski bought at auction at Sotheby's.

Unlike many of the RA's exhibitions the new space, called the John Madejski Fine Rooms, will be free to enter.

The tycoon, believed to be on holiday in Mauritius, said in a statement: "It is my pleasure to be able to share this stunning sculpture with everybody who visits the Royal Academy."

The Royal Academy's Senior Curator Mary Anne Stevens said of the Degas work: "It is extremely significant."