The proposed sale of Reading to American businessman Robert Platek is raising concerns among other clubs due to a potential conflict of interest. Platek, who owns the Portuguese club Casa Pia, recently sold his controlling interest in the Italian club Spezia and previously owned the Danish club Sonderjyske.
Reading announced that they had entered a period of exclusivity with a potential buyer, later identified as Platek. However, his connection to BDT & MSD Partners, an investment firm that has lent significant sums to multiple English Football League (EFL) clubs, has led to scrutiny. Platek serves as the co-head of global credit at the firm, which has provided financial support to Burnley, West Brom, Derby, Sunderland, and Southampton. Some of these loans include security over club stadiums in the event of a missed repayment.
Concerns have been raised by executives at other clubs regarding Platek’s involvement in both lending and ownership. One executive pointed out that MSD played a crucial role in supporting clubs financially during the pandemic and now holds significant influence over some teams’ financial operations. Given Platek’s senior position within the firm, critics argue that his acquisition of Reading could lead to conflicts of interest.
The EFL is aware of the concerns and has been in discussions with Reading about the proposed deal. Platek has previously stated that his football club investments are personal and unrelated to MSD. However, in order to satisfy the EFL’s regulations, he may need to prove a clear separation between his personal investments and MSD’s financial activities.
The situation is particularly complex given Reading’s financial difficulties in recent years. The club’s Chinese owner, Dai Yongge, put it up for sale 18 months ago, and financial struggles have led to various setbacks, including the closure of the club’s women’s team. A previous loan taken out by Dai from a Chinese state-backed bank was one of the obstacles delaying a sale, but this issue has now been resolved.
Platek is the fifth prospective buyer to enter exclusive negotiations with Reading in the past year. Previous offers came from former Wycombe owner Rob Couhig, former Reading chairman Roger Smee, and two proposals involving property magnate Paul Taylor. Unlike previous deals, Platek’s proposal includes purchasing the club, its stadium, and training ground, consolidating all assets under one entity.
Platek’s track record in football has been mixed. Sønderjyske was sold shortly after being relegated from the Danish top flight, and Spezia also suffered relegation under his ownership. Casa Pia, however, are performing well in the Portuguese league.
Reading remains optimistic that the sale can be completed swiftly. A club spokesperson emphasized that while no timelines are guaranteed, the structure of the deal should allow for a quick resolution, which would be beneficial for all parties involved.
