Football

Owls set for announcement

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Sheffield Wednesday fans are expecting the board of directors to announce the club is on the verge of a takeover at Wednesday night's annual general meeting.

It is understood behind-the-scenes talks with an undisclosed party regarding major new investment are at an advanced stage and that the Owls' own bank, the Co-op, have been heavily involved and approve the plans.

Wednesday, around £25million in debt, appointed Deloitte Touche in May to actively seek a buyer for the South Yorkshire club and it has been reported a London-based broker was recently instructed to work alongside the financial services giants.

Owls fans have grown disillusioned with the club's lack of progress both on and off the pitch since relegation from the Premier League nine years ago and the nine-month saga surrounding the Geoff Sheard consortium's failed bid to take control this year has done little to halt scepticism and dwindling Hillsborough attendances.

But manager Brian Laws signed a new three-year contract with the club at the end of last month after seeking certain assurances and revealed the board had disclosed to him a "mouth-watering" plan A and plan B with regards to future investment.

An announcement to the Stock Exchange is also understood to have been prepared for Thursday morning.

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Topics:
Sheffield Wednesday
Football
Premier League

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