Sheffield Wednesday News 24/7Writer: Nick 
Date:Wednesday April 30 2008
Time: 9:39AM
UK time is: 01:16:47
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Sheard Closer To Owls Deal
At last! After months of speculation regarding a takeover at Hillsborough, it appears we're finally moving in a positive direction with the news Geoff Sheard has agreed a deal in principle to buy a stake in the club.
Sheard and his consortium have long been linked with a takeover at S6, but with things going quiet in recent months, some fans have grown impatient, especially with the news that former Darlington chief executive Jon Sotnick had become interested as a rival party.
But BBC Radio Sheffield are now reporting that Sheard and his consortium have agreed a deal in principle to buy a 30 per cent stake in the club after agreeing a price with directors Geoff Hulley and Keith Addy and former Owls' chairman Dave Allen.
And it's believed the trio are now awaiting an official offer in writing before accepting.
Sheard and his consortium also enjoyed a positive meeting with Wednesdayite recently, and it appears they are the favourites for the deal.
Sheard's decision on buying in to the Owls doesn't depend on whether the Owls will be in the Championship or League One next season, but there has been no timescale slapped on the deal, and Owls fans could well be made to wait a bit longer yet.
For all the latest on the Owls' takeover, keep checking Vital Sheffield Wednesday for all the latest updates.
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Your Comments
id love to welcome in some new owners on sunday, full house it would be perfect (assuming we dont ***** it up and lose to norwich)
mansfieldowl
http://news.bbc.co.uk/sport1/hi/football/teams/s/sheff_wed/7373961.stm
SuperOwls
Why only 30%? I don't understand these boardroom takeovers - can someone explain???
SuperOwls
Superowl - My understanding is that the board only own 30%, wednesdayite 10% and the shareholders association 12% - the rest is owned by small investors - fans etc. Once they've got the 30%, they will then move onto shares owned by wednesdayite and shareholders association, once this is acquired, they have the majority, and can then purchase the rest off small investors.
swfcjambo
Once he has 30% control he is obliged under takeover rules to make a bid for the remaining shares. If the price is acceptbale to share holders he will then purchase the remaining shares to take 100% control of the club
Aston Owl
Yep, that exactly correct. I also think that he can make a compulsory purchase of any remaining shares once he obtains a greater percentage. I tthink he needs to own almost 80% before that can happen though.
Smurf
Be interesting to see what wednesdayite do with the money they receive assuming they accept the bid
Aston Owl
Thanks for the explanations!! Looks like we can really start to get excited - couldn't be better timing with Sunday coming up either - the more boosts we get going into the game the better! Have to say, I hope they keep Laws in post - feel for him with lack of fund, injuries, etc this season. Think he's a decent manager and pbviously cares about the club - think about his running up the touchline when we stuffed the piggies! Give him a chance with some cash and fit players I say.
SuperOwls
I personally would like Wednesdayite to offer the share price they receive back to the club. For use on improving facilities etc.... This wont happen tho as I believe they want to make wednesdayite bigger and these funds will allow them to expand. I hope we can see sense and build a coaching team in the background, that would see Lee Bullen in there. I'd love to see Chris Waddle as a ambassador for the club also.
Bigash
personally wednesdayite should put there money into keeping season ticket prices down
mick66owl
Good call on the season ticket prices, hopefully next year's rises will be justified with some decent player investment, with that and the injuries returning game on.
Aston Owl
dare i say anythin?? borin chuffs keep deletin my posts!!
i wish people would stop moanin bout season tickets prices!! got my renewal letter the other day n it will be a whopping £36.00 more expensive than last year and my annualy wages has gone up singnificantly more than that so stop moanin n get ur season tickets!!!
FUTURES BLUE N WHITE
I think the rise is pretty realistic, just think the timing of the announcement spoke volumes about the current board and senior executives, i.e announced before we know KNEW what division we will be in
Aston Owl
Good news. More info in yorkshire post see link http://www.yorkshirepost.co.uk/football/Breaking-Takeover-to-end-Wednesday39s.4032370.jp
CLIFFANDJ
Let's show some caution here. Leicester City fans probably thought they were going to storm the league with a multi-million pound team this season when they were taken over by Mandaric and look what happened - they are probably favorites to go down on Sunday. Unless Sheard's crew can invest mega-bucks in the team it's not going to be easy to get out of this league. Look at this season - aside from West Brom the promotion contenders have all been about team spirit, competent club management and a good slice of luck - it takes much more than money to get out of this division.
onedeaddj
no one is saying its going to be easy mate..take a happy pill for *****s sake your makeing me depressed!
WORKSOP..OWL
On a different note, does anyone know if they gonna be opening the triangular section for sundays game? ahven't seen that used in years!
LP-OWL
LP-OWL ive never seen it used, would love to tho
mansfieldowl
last time i can rememember it being open was against liverpool in a leauge cup tie back in the mel sterland days..there were 40,000 there that night.
WORKSOP..OWL
I'm sure i remember the Man U fans in the mid 90's having it, but yeah it would be brilliant not see any empty seats anywhere in the stadium only in the Norwich end 10 mins from time.
LP-OWL
Didn't the pigs have it a long while back - sure I've seen it used in the 90s
SuperOwls
hull city had to use it for a midweek game a couple of seasons ago, we lost 3-1 i think and bullen cocked up for their first goal after we led 1-0, they fetched a good crew and as the game went on it started to fill up, anybody remember??
dbblue
hull used the triangle in league 1!!
ever such a happy chappy aint ya onedeaddj.... bet ur a right barrel of laughs!!
FUTURES BLUE N WHITE
u must have posted that whilst i was typing dbblue!! bullen cocked??? never....
FUTURES BLUE N WHITE
cocked up... never
FUTURES BLUE N WHITE
Haha! Nice one Futures....I take your point!
SuperOwls
is that a stutter you have futures? good thing about bullen was his attitude, 100% pro and never gave any less, however he has to move on and we are still here, wednesdayites forever!!
dbblue
Pigs had triangle in 2003. Any guess on capacity for sunday's match?? The corner won't be open due to safety reasons and I doubt whether they've taken away ALL of the netting...I reckon capacity of 35,000 and Norwich will have a few tickets left over.
johnswfc
Norwich have sold out their allocation and i expect 37,000. The good all days it will feel like!
will it ever happen
Sheard should be rite impressed by 37000 (- however many mustard fans) singin Wednesday to victory. Shame ticket prices arent this cheap all the time for higher attendences!
will_swfc9
yepp sheard will be at match sunday. get him on the pitch
mick66owl
if no bid happens looks like it will be admin
mick66owl
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