Cash-stricken Sheffield Wednesday have made a fresh appeal for new investors in the club, but re-iterated that any investment must meet certain criteria.
The npower Championship club have been on the look-out for new funds for several months, but their need was heightened last week after being issued with a winding-up order by HMRC in relation to an unpaid £550,000 tax bill.
American company Club 9 Sports LLC have been rumoured to be interested in investing but no firm offer has been forthcoming, leaving Wednesday still looking for much-needed funds.
Their cause was helped last week with the sale of highly-rated goalkeeper Lee Grant to Burnley for an undisclosed fee which is believed to be in the region of £1million, but the club are still searching for a further £5million to help ease their financial woes.
A club statement read: "In our search for new investment, we have set a number of key conditions for potential partners who wish to be part of the club moving forward. Central to these is the ability to invest money into the club straight away.
"We have stated in the past that £5million is the minimum figure that is needed to assist the club on day one. This figure would allow for a major reduction in the debt position of the club and would ultimately give more resources to the manager to invest in the playing squad."
Copyright (c) PA Sport 2009, All Rights Reserved.
Do YOU want to write for GiveMeSport? Get started today by signing-up and submitting an article HERE: http://gms.to/writeforgms