West Brom shareholders are concerned over the timing of chairman Jeremy Peace's announcement to seek additional investment .
"We are a bit perplexed about it, unless he's trying to see what's out there.
"Jeremy always said he would stay for a few years but it does look as if he's seeking a buyer.
"That's a surprise because November's AGM would have been the obvious time to try to consolidate more shares.
"That would make a purchase more attractive to any potential buyers.
"But then, we are all equal at the moment. Come November, if we are in the bottom three, we may not be as attractive."
Reynolds added in the Birmingham Mail: "Another issue we have is that we would be concerned if that potential buyer had no connection or knowledge of Albion or English football.
"These people may give you a good couple of years but are likely to leave your club in a worse state than they collected it in."