Owls have no administration fears

Published Add your comment

Football News

Sheffield Wednesday chairman Lee Strafford has claimed the club's bank will not allow them to fall into administration.

Strafford has also revealed Wednesday, who have reported debts of £26 million, are still in takeover talks with American investment group Club 9.

He told BBC Radio Sheffield: "The Co-op bank won't drop us into administration. They would lose money in that arrangement versus the club being run properly, being progressive and a good owner coming in."

Strafford added: "Club 9 are in the middle of negotiations with the Co-op bank. There's meetings happening in the next week or so and they might even be at the game on Saturday.

"They're going to be taking the air or seeing what Sheffield Wednesday is all about. Between now and when they get a deal done, we've got to drive this football club forward."

Strafford confirmed the Owls required average attendances of at least 24,000 to break even and that would apply even if they were relegated to League One for next season.

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:

Sheffield Wednesday

Article Comments

Read more

Report author of article

Please let us know if you believe this article is in violation of our editorial policy, please only report articles for one of the following reasons.

Report author


This article has been written by a member of the GiveMeSport Writing Academy and does not represent the views of or SportsNewMedia. The views and opinions expressed are solely that of the author credited at the top of this article. and SportsNewMedia do not take any responsibility for the content of its contributors.

Want more content like this?

Like our GiveMeSport Facebook Page and you will get this directly to you.

Already Subscribed to Facebook, don't ask me again

Follow GiveMeSport on Twitter and you will get this directly to you.

Already Following, don't ask me again

Like our GiveMeSport Page and you will get this directly to you.

Already Subscribed to G+, don't ask me again