The Iceman cometh at Shrewsbury Town today – with the signing of Icelandic teenager Gylfi Sigurdsson from Championship club Reading.

And, while Iceland’s financial institutions are in meltdown, Shrewsbury have not had to break the bank for the midfielder, who has joined on an initial one-month loan.

Under-21 international Sigurdsson, 19, who has been with the Royals since joining their academy in 2005, will go straight into the squad for Saturday’s clash with Bournemouth at the Prostar Stadium.

“He’s a player who’s thought of very highly in Reading,” said Town boss Paul Simpson. “His name’s a bit of a tongue-twister for everybody, including me, but I’m delighted to get him in.

“He’s got good quality on the ball, he’s a good size and a very good athlete.

“He’s come recommended to us and I haven’t had a chance to see him play, I’ve got to be honest.

“But I spoke to a couple of people about him and he’s a very bright prospect. They believe he’s one of the best players coming out of their academy set-up.

“They weren’t actually going to let him go out on loan this season, but they realise he needs to go and get games.”

Simpson has not ruled out further additions to his squad in the coming days as he prepares for a gruelling month ahead that will see Town competing on three fronts – in League Two, the FA Cup and the Johnstone’s Paint Trophy.

There may be further departures as well, with the Town boss confirming that loan deals for some of his fringe players could be in the pipeline.

“We’ve got about eight games  in the next 28 days starting on Saturday, and we felt we were going to need an extra body in midfield – and we may even need a body in another area of the field as well,” said Simpson.

“There’s a few whispers about players going out on loan, though I will only let players go out who I believe we can do without.

“If we can get a couple more out then it may give me the opportunity to get a couple more in as well.”

By CHRIS HUDSON