The Russian businessman had been accused of not supporting the 51-year-old enough regarding the purchasing of players, but he has come out and rubbished those claims
McDermott lost his job as Royals coach in mid-March after months of battling relegation and his former boss does not believe he did enough with the money made available to him.
Zingarevich himself had come under fire from fans for not supporting McDermott in the transfer market, but the Russian claims that was not the case.
Zingarevich told the Reading Chronicle: "I would like to say there always was a transfer budget and I thought we should have done more in January.
"We tried to sign players but perhaps we should have been more active."