The Championship club have agreed to pay his £10,000-per-week wages and he is expected to sign for Reading.
It was a late move from Reading to sign the starlet on loan. Nottingham Forest had been considered favourites until Jaap Stam enquired.
Slaven is keen for the 18 year old who signed a new four a half year contract in December to get experience in the Championship and get regular game time.
West Ham Joint Chairman David Sullivan confirmed that Reece Oxford could join Reading on a live Talksport interview this morning dashing Forest, Brentford and Rangers fans hopes that the young prodigy would come to them.