Owls employ American bank

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Sheffield Wednesday have appointed the same American investment bank which brokered the takeover of Liverpool in a bid to attract major new investors to Hillsborough.

Wednesday chairman Lee Strafford and chief executive Nick Parker, appointed to the club's board in January to oversee the project, recently returned from a trip to the US where they spoke with several interested parties and, having appointed New York-based Inner Circle Sports, are confident a deal could soon be struck.

A club statement read: "At these meetings it became very apparent that genuine interest in the company can be converted into future investment, especially if the right conditions exist."

The statement continued: "To this end, the board announces the appointment of Inner Circle Sports LLC, a specialist sports-focused investment bank, based in New York, as advisors on the investment process.

"This bank and its directors have great experience in co-ordinating and executing transactions, both in the USA and in Europe, having been involved in many of the largest sports investment processes in recent years.

"Prior to agreeing to undertake the assignment, Inner Circle Sports have undertaken initial due diligence to assess the extent to which a transaction can be completed and have satisfied themselves that the longer term opportunity for an investing syndicate is compelling."

Inner Circle Sports advised Tom Hicks and George Gillett on their £470million Liverpool takeover in early 2007 and more recently aided the purchase of a controlling stake in Sunderland by Texan billionaire Ellis Short.

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