“READING’S latest potential buyer is American businessman Robert Platek, owner of Italian club La Spezia and Portuguese side Casa Pia. The League One club yesterday announced that they had entered a “period of exclusivity with a potential purchaser” and were hopeful of “a quick completion,” although declined to name them. 3 Dai Yongge put Reading”, — write: www.thesun.co.uk
The League One club yesterday announced that they had entered a “period of exclusivity with a potential purchaser” and were hopeful of “a quick completion,” although declined to name them.
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Dai Yongge put Reading up for sale in 2023Credit: JASONPIX
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Robert Platek is Reading’s mystery buyerCredit: GettySunSport has learned that the buying group are led by Platek with support from long-time associate Nishant Tella, a former investment banker who is now a partner at Clean Slate Capital.
Platek is a serial investor in football and already owns Serie B club La Spezia and Lisbon club Casa Pia, who are currently sixth in the Portuguese top-flight.
The 60-year-old previously owned Danish club Soenderjysky, but sold them after just two years shortly after completing the £21million purchase of La Spezia in 2021.
La Spezia are currently third in Serie B pushing strongly for a return to the top flight after being relegated in a relegation play-off two years ago.
Platek is the fifth potential buyer to enter exclusive talks with Reading in the last 12 months following offers from former Wycombe owner Rob Couhig, ex-Reading chairman Roger Smee and two proposals involving property magnate Paul Taylor.
Significantly however, the proposed deal involves Platek buying the controlling stake of owner Dai Yongge, along with Reading’s stadium and training ground, keeping all of the club’s assets in one company.
Platek’s plans for Reading are unclear, but he has extensive experience in football, including in England. In addition to his personal investments in European football he is a partner at MSD Capital, the investment vehicle of technology billionaire Michael Dell.
MSD become significant players in English football and have lent tens of millions to several clubs including Southampton, Burnley, Derby and Sunderland over the last decade.
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Platek’s proposed purchase of Reading would be a personal venture with no links to MSD however, removing concerns over potential conflicts of interest.
Reading were put up for sale by Yongge in October 2023, but despite considerable interest have been unable to complete a sale. The club have informed the EFL about the potential buyers and are hopeful a sale can be completed quickly.
“Reading can confirm it has committed to a letter of intent with a potential purchaser of the club,” they said. “The parties will now enter a period of exclusivity to complete final due diligence and legally complete the transaction.
“Whilst timelines cannot be guaranteed, the structure of the deal should allow for a quick completion, which would be for the benefit of all concerned.
The club can confirm the agreed sale includes the transfer of Mr Dai’s shareholding in The Reading Football Club Limited, as well as the Select Car Leasing Stadium and Bearwood Park Training Facility.”
Fans’ group Sell Before We Dai have fought a long-running campaign pressuring Yongge to sell following frustration at the club’s financial problems, numerous transfer embargoes and late-payment of players leading to them being docked a total of 18 points by the EFL.
In a statement released on Monday however, the supporters sounded cautiously optimistic that Yongge’s eight-year ownership could be drawing to a close.
“The optimist in us may see today’s announcement as positive and welcome news,” a statement read.
“The tone of the [Reading] statement seems different to before and we all hope that a deal can be done soon. We’ve been here before with the Dais though. Until a sale is done our campaign continues.”
Reading are ninth in League One, three points off the play-off places, with new manager Noel Hunt doing an excellent job since replacing Ruben Selles, who left for Hull in December.
Reading and the EFL declined to comment.
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Platek also owns Italian side SpeziaCredit: Getty