"The saga continues" - Pundit reacts to fresh Reading FC takeover news involving US-Saudi consortium | OneFootball

Carlton Palmer has given his view on reports that a US-Saudi consortium headed up by Marc Bircham remain interested in buying Reading.

Pundit Carlton Palmer believes Reading supporters should be cautious over reports that a US-Saudi consortium remain interested in buying the club.

According to the Reading Chronicle, the consortium, who are headed up by former Millwall and QPR striker Marc Bircham, have renewed their interest in buying the Royals after previously having a bid rejected in June.

Bircham was spotted at a number of Reading games last season, but his consortium's offer was turned down as the club decided to progress with former Wycombe Wanderers owner Rob Couhig.

After months of negotiations, it seemed that Couhig was set to complete his takeover of the Royals, but the deal collapsed last month after he failed to reach an agreement with owner Dai Yongge, and all loans have been paid back to the American businessman.

As another party are currently in an exclusivity period with Yongge, there cannot be any imminent developments with the US-Saudi consortium, but it is believed that "preparations are being made for another bid in case nothing progresses".

With a number of parties interested, Reading supporters will be hoping that Yongge's disastrous seven-year tenure will soon be coming to an end, and the need for a sale was underlined by the fact the club were placed under a formal registration embargo by the EFL last week after another late submission of their accounts.

On the pitch, it has been a decent start to the season for the Royals despite the ongoing off-field issues, and while Ruben Selles' side are 17th in the League One table, they are only three points from the play-off places ahead of the game against Crawley Town at the Select Car Leasing Stadium on Saturday.

Carlton Palmer reacts to Reading takeover update

Speaking exclusively to Football League World, Palmer said the fact that someone with EFL experience in Bircham is involved in the US-Saudi consortium is positive for Reading, but he admitted that supporters should not get too excited just yet after previous takeover disappointments.

"The saga continues at Reading as another consortium are believed to be interested in buying the football club," Palmer said.

"Apparently a US-Saudi consortium headed up by former QPR striker Marc Bircham remain interested in buying Reading.

"The saga continues, doesn't it?

"It was believed that a deal was nearly done with Rob Couhig, everything was done and ratified by the EFL and the deal fell through.

"Apparently he's in talks with a friend of his, those talks are still ongoing, and nothing has materialised.

"I don't think it's something that the fans can get too excited about until the i's are dotted and that t's are crossed.

"With somebody like Marc who has knowledge of the EFL, it does help, but the problem is, what does Dai Yongge want to sell the club?

"This new consortium is being headed up by Canadian international Bircham, he's been spotted many times at Reading's games.

"The long-suffering Reading supporters are keeping their fingers crossed that this turns out to be more positive than other previous takeover talks."

Palmer is right that Reading supporters should not get carried away with the latest takeover developments, but there are reasons to be hopeful.

There is a party currently in an exclusivity period with Yongge as they discuss a deal, and the fact that they are willing to fund the club during the negotiation process shows that they are serious about buying the Royals.

Given that the US-Saudi consortium remain interested after previously having a bid rejected, they also appear to be a credible potential buyer, and Bircham does have extensive EFL experience after playing and coaching at Millwall and QPR.

However, question marks remain among the Reading fan base about whether Yongge can be trusted to sell the club, and as Palmer says, they will not get too excited until a deal is officially completed.