Madejski will celebrate 18 years in charge at Reading this weekend
Reading chairman John Madejski admits the club may have become "too big for our boots" last season.
After a successful first year in the Premiership, Reading were agonisingly relegated on the final day of the 2007/08 campaign.
But with the in-form Royals currently third in the Championship, Madejski told BBC Berkshire that there was no sign of complacency this term.
"I think perhaps we had got too big for our boots as a club," he said.
"Relegation is never good, but we've got a much better resolve now.
"There isn't the arrogance that perhaps there may have been slightly last season and I think that we're well on our way to getting back to Premiership football.
"I think that certainly now there's a hunger for Premiership football again and that's fantastic," he added.
If we felt there was a drastic need to spend money we would, but if it ain't broke why fix it?
Reading chairman John Madejski
The Royals are currently six points adrift of second-placed Birmingham, and Madejski remains bullish about his side's promotion chances.
"We have been playing superbly well, as everybody knows, and I think Reading are the team to beat."
And Madejski, who celebrates 18 years as Reading chairman this Saturday, rejected claims club needed to spend big in order to ensure automatic promotion.
"The manager and Nick Hammond [director of football] in the last couple of weeks have been saying they're quite satisfied with the squad," he said.
"We've got to remind people that we have 38 people in our squad at the moment which is an enormous squad.
"Not only is that a big wage bill but it's also a heck of a lot of talent - we effectively have two first-class teams at Reading.
"It's all very well saying 'get your chequebook out', but the point is that you have got make sure the players you buy fit into the scheme of things.
"If we felt there was a drastic need to spend money we would, but if it ain't broke why fix it?"
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