"We have three important games to go and also have teams behind us with games in hand," he told the official website. "So nothing is set in stone until the last kick of the ball at the end of the season. We'll have to wait and see what pans out.
"I know the manager is a bit wary of Europe because he feels it is a bit too soon for us and that we should consolidate our position in the Premiership for another season at least.
"However, if we are lucky enough to get into Europe then we would gladly take it and do the very best we can in that arena.
"We have a squad with virtually enough strength in depth to field two first teams. We showed that in the FA Cup with the games against Manchester United.
"And when you have that sort of configuration you might think we could handle Europe. But I do appreciate the manager's sentiment. And I know that we'll go out and give everything in those last three games and see where it takes us."
Madejski reflected on a great season so far
"I have to say that in my wildest dreams I didn't think we'd be spending the season in the top half of the Premiership. It's just beyond my expectations and everyone else's as well.
"It just goes to show the grooming and professionalism of Reading Football Club, from the manager and players through to the backroom staff and the rest of the people who work here behind the scenes.
"It's been a great season which has rewarded all the hard work that has gone on. And we must not forget the fans, who have played a huge role in the achievements we've enjoyed over the last few seasons."
He finished by talking of the future.
"The club never stands still and we are awaiting on the planning permission so that we can get to work in earnest for the works to take the capacity up to 38,000.
"All that I've said in the past still stands. If there is a billionaire out there - and I mean a billionaire - who wants to buy a football club, then come and talk to me. Ultimately it will cost someone a lot of money and it's not a decision for the fainthearted, it needs that kind of backing.
"I've done 17 years here. I don't want to leave or step down, but I can't look at the future in a way that I feel it can be sustainable in the long term.
"My phone hasn't exactly been ringing off the hook though, so people might be stuck with me for quite a while yet!
"I did predict that football would go the way of the super-rich some time ago and what I don't want to happen is for Reading to be left behind in that process. We have a fantastic club here and it would suit a benevolent billionaire from somewhere."
The full interview including his comments of Andre Bikey, Steve Sidwell and possible summer transfers can be found here on the official website.