Owls 'cautiously optimistic' over takeover

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Football News

Sheffield Wednesday chairman Howard Wilkinson remains "cautiously optimistic" that a £15million takeover of the club will be completed.

The Owls have been negotiating with Certified Oilfield Rentals for several weeks, but a £2million advance promised by the Dubai-based company has yet to materialise and Wilkinson revealed the club was also in talks with two other potential investors.

Wilkinson said: "Nothing has changed. As far as I and the board are concerned, talks with COR continue. Talks with other potential investors also continue, in order to find the right sort of investment for Sheffield Wednesday and the right sort of people to be involved with the club."

Former Wednesday manager Chris Turner, acting as intermediary for COR senior executive and main investor Kevin Mundie, said this was "a massive week for Sheffield Wednesday".

Mundie is understood to be one of six potential investors who have yet to agree on the amount of each individual's financial commitment.

Turner added: "These are complicated negotiations and we need to come up with something this week that satisfies the club. The bank are happy with the proposals from the investors, but now they have to come through with the money and get the deal done."

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Sheffield Wednesday
League One
Chris Turner

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