Football

Owls hold hope over new owners

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Sheffield Wednesday hope the identity of the club's new owners will be revealed next week, with former Leicester owner Milan Mandaric the latest to be linked with a takeover bid.

Mandaric, who sold Leicester to a Thai-based consortium in August, has been reported to have joined the race to take control at Hillsborough, while the club have confirmed they are already in "advanced talks" with three other separate parties.

The club face a winding-up order next Wednesday over an unpaid PAYE tax bill of £600,000.

They have been served with another over VAT arrears of £300,000 and were issued with a winding-up order in July over an outstanding PAYE bill, which rose to £1.1million.

The Owls' main creditors, the Co-operative Bank, agreed to pay the £1.1million and will now effectively decide who to sell the club to before next week's hearing in order to stave off administration and an automatic 10-point deduction.

A club source said: "There are three parties all vying to conclude a deal and the bank have a decision to make, probably on Tuesday, with regards to their preferred bidder.

"It seems likely that a deal will be struck at the 11th hour. It is not in the interests of any potential investor to see the club go into administration."

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Topics:
Sheffield Wednesday
Football
League One

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