Reading owner Anton Zingarevich has described rumours of manager Brian McDermott's imminent sacking as "nonsense".
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The Royals have endured a rough time in the Premier League since their promotion last season, managing just one win from their opening 11 games.
That poor run of results has left McDermott's side just above the relegation zone in 17th place, although only because of a superior goal difference.
It has led to speculation that Zingarevich was considering a change at the helm, with PSV coach Dick Advocaat said to be his preferred choice.
However, the Russian businessman has dispelled the 'hurtful' rumours, insisting that McDermott continues to have his full backing.
"The speculation hurts me because it's just not necessary," he told the Daily Telegraph.
"It is just nonsense really. I have total faith in McDermott and he has a long-term contract so I don't see any problem.
"There will be funds available. There will be a list at some point and we will discuss it. But the manager is the manager. He will make the final decision on all transfers.
"I don't even know where that Dick Advocaat speculation came from. Of course Brian was hurt by it. But he knows from me - because we talk - that everything is fine."
Zingarevich added: "You can be a good coach without being the right manager - but he really is. To be a good manager, you have to be a good psychologist and I really think he is."
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