LUIS Castro has given his reasons for turning down a lucrative offer from Reading FC.

The Vitoria Guimaraes boss was Royals No.1 target to replace Paul Clement following his sacking last Thursday.

Football representative Kia Joorabchian flew to Portugal over the weekend for talks with 57-year-old Castro, with local media suggesting an 11m euro salary package was slapped on the table along with a promise of 100m euros to spend on new players.

However, Castro declined the opportunity to move to Madejski Stadium on Tuesday night and is staying in the Portuguese top-flight.

His decision clearly caught Royals off guard as they do not appear to have a ‘Plan B’, with caretaker boss Scott Marshall still in charge for tomorrow’s clash at Rotherham United (3pm ko).

Castro was quoted in the Portuguese news outlet A Bola saying: “In this case, there was an analysis, a reflection and a decision.

“I work in an institution with a large social margin of support and a structure that does everything to give me the best working conditions.

“On the other hand, there was an institution that financially would be very good for the whole family, but I came to the conclusion that it was better to stay.

“My conversation with the club was not about my contract, but about going to Reading. The contract was never discussed because if this was the case I would have left.”

Bolton boss Phil Parkinson remains the bookmakers’ favourite to take over the reins at Madejski Stadium, though no official approach has been made by the Royals.

However, CEO Nigel Howe believes Parkinson has all the attributes needed to bring stability to Madejski Stadium and pull them out of a relegation battle.

Yet the increasing influence of Joorabchian behind the scenes suggests Royals are more likely to appoint a foreign coach.

Portuguese duo Vitor Pereira, who managers Chinese Super League champions, Shanghai SIPG, and Rio Ave boss, Jose Manuel Gomes both entered the frame this week.

But is thought former Fulham promotion-winning boss Slavisa Jokanovic is no longer in the running along with ex-Aston Villa boss Steve Bruce.

Wycombe Wanderers manager Gareth Ainsworth and former Tottenham and Villa boss, Tim Sherwood, are other possibilities.