Sheard Consortium Edge Closer

A consortium headed by Geoff Sheard are reported to be as close as a week away from finalising a £40 million deal to take over Wednesday after making 'significant progress' according to the Yorkshire Post.

Sheard's consortium have been linked with a takeover bid for the Owls for months now, with fans growing increasingly worried at the situation with little reported in the press recently.

But now the Yorkshire Post have revealed that a deal could well be done and dusted in as little as a week, after making progress in discussions with the Wednesday board and former chairman Dave Allen, who still holds a big stake in the club.

And Sheard is also looking to purchase the 10 per cent shareholding held by Wednesdayite, with another 12 per cent from the Shareholders' Association available - with Sheard meeting with the two organisations on Monday in Leeds.

Many Wednesday fans feared the deal could well collapse if Wednesday were relegation from the Championship, but it's also understood that what division the Owls will be in next season will have no influence on a takeover of the club.

According to the report, Sheard has been in discussions with the Owls for the last three months and has now shown proof of funding, a significant step in the deal.

So after months of wondering whether the takeover will go ahead, it looks like good news for Wednesday fans, for the time being at least, and we here at Vital Sheffield Wednesday will be keeping everything crossed!