Sheard Takeover Edges Closer
A deal which would see Geoff Sheard and his consortium move in to the Hillsborough boardroom seems to be getting closer after Wednesdayite received a formal offer for their shares.
The fans' group have been in talks with Sheard for a number of weeks and have now received a formal offer, believed to be 20p per share, for their 10-per-cent plus shareholding at S6.
But a takeover at Hillsborough could still be weeks away, with Wednesdayite set to ballot their membership over the issue.
Sheard has already held a meeting with former Owls chairman Dave Allen about purchasing his shareholding in the club, and Wednesdayite chairman Darryl Keys believes that a deal could only be done if it's part of an overall deal that would see a party take complete control at S6.
He told the Sheffield Star: 'First we have sought advice from our lawyers to ensure that we adhere to legal procedures and subject to that we are happy to ballot our members and hopefully get the go-ahead for a sale.
'Obviously it would have to be part of an overall deal that gives control to another party; if someone was just acquiring our shares and nobody else's then we would just be shuffling deckchairs.'
But there is still a question mark over the purchasing of the 10-per-cent shares held by directors Geoff Hulley and Keith Addy, both of whom have denied meeting Sheard as yet.
But the move to purchase the shares of Wednesdayite show a clear intent from Sheard to get the takeover at S6 moving.