"Conflict of interest" warning made as Reading FC push for takeover deal | OneFootball

Carlton Palmer gives his take on the takeover news coming out of Reading FC.

Carlton Palmer isn't getting too excited over Robert Platek's potential deal to buy Reading with the former Leeds United player urging fans to "wait and see".

The Royals finally have something to be excited about, as their ongoing struggles under owner Dai Yongge may soon come to an end. The club has confirmed that exclusive talks with a new owner have commenced, and according to The Reading Chronicle, businessman Robert Platek signed that agreement on Monday as discussions get underway over the purchase of the League One club.

It has also been reported by The Sun that a long-term partner of Platek's, Nishant Tella, is also involved with the deal.

The 61-year-old has links to technology company Dell and has previously been associated with Spezia in Italy, Sønderjyske in Denmark, and Casa Pia AC in Portugal, and as part of the MSD Capital hedge fund has lent money to English clubs Derby County, Southampton, Sunderland and Burnley.

Despite this excitement, Royals supporters will remain hesitant with this now being the fifth instance of the club entering an exclusivity period with a potential candidate.

Hopefully, this deal can finally be pushed over the line, allowing Yongge to relinquish his grip on the club after seasons of turmoil under his stewardship.

Carlton Palmer still uncertain despite positive news for Reading

Speaking exclusively to Football League World about the takeover news at Reading, Carlton Palmer remained uncertain about whether the deal would go through.

"It is positive news for the football club if it eventually leads to something," said the former England international.

"Platek is the fifth potential buyer to enter exclusive talks with Reading in the past 12 months, after offers from former Wycombe owner Rob Couhig, former Reading chairman Roger Smee, and two proposals involving Paul Taylor.

"They have supposedly entered a period of exclusivity, but we will have to wait and see. There are other people who have been linked to the club, and nothing has come of it.

"It will be positive news for Reading, who are three points off a play-off place."

Palmer outlines EFL concern over Reading's prospective owner

Platek's heavy involvement in other football clubs across Europe could yet have an impact on Reading, as Palmer admitted: "There is talk that the English Football League will face a dilemma over whether to approve the purchase of Reading by the American because of a conflict of interest.

"The 61-year-old sold his control in Spezia and previously owned Sønderjyske, and his involvement with major lenders MSD, who effectively controlled several clubs' cash flows, is also a factor. Platek has been at that company for over 20 years, and the EFL are understood to be wary of other clubs' concerns. They have told Reading they must comply with regulations.

"So, we will have to wait and see. He has had mixed fortunes with his other ventures. Sønderjyske were sold after two years following relegation, and Platek owned Spezia for four years, during which they were relegated from Serie A.

"For Reading, nothing is going to happen right now because we are not in the transfer window, but this could be good news, as stability might finally be arriving at the football club."

Platek may have the ability to bring some financial stability if everything is approved, but given his track record of relegation, is he really an owner who has the club’s best interests at heart?

It is difficult to say, of course, and while Reading fans will be eager to see the back of Yongge, they must also consider whether the American is merely the lesser of two evils.