Sheffield Wednesday News 24/7Writer: Auckland Owl 
Date:Wednesday July 16 2008
Time: 9:00AM
UK time is: 09:44:45
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Sheard's £40 Million Problem
Lancashire-based businessman Geoff Sheard gave more details of the ongoing takeover saga on Radio Sheffield on Tuesday.
Sheard outlined the progress so far - former Owls chairman Dave Allen has agreed to sell his shareholding and a deal has been agreed in principle with fan's group Wednesdayite, that portion of the Swiss consortium's bid being subject to legal due diligence. Wednesday board members have also received their offers: Keith Addy has not yet replied, Geoff Hulley is away on holiday and is known to have queried the share price.
Sheard has been in communication with Wednesdayite chairman Darryl Keys, in order to allay any concern over the legality of the bid under UK regulations. He spoke of the '40 million pound problem' to solve at S6, a total which includes the debt, the price of the club and the initial level of investment to put the club on an even keel and move it forward. He also said 'There are other plans outside of the football club with regards to working with the community, which the gentlemen are very much interested in taking forward and those plans are in the future. But first things first. We want to acquire the football club and turn it round and then on the back of, hopefully, some success with the football club we'll make clear the other plans.'
And so it continues.. encouraging for all Owls fans that Sheard's first public announcement appears to be honest and open.
We'll gauge the reaction and watch for further development over the course of the next few days.
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Your Comments
Starting to get worried about this! - no other investors are going to look at us, when this is dragging on. Looks like Wednesdayite are not happy with the package, and neither is Hulley and Addy. Allen is the only person willing at the moment. Even if this does not go ahead, there should be a move from within the club to unify some of the shareholdings so that investors can negotiate with less parties for a takeover. It may simply be because we are all so interested in this, but has a successful takeover ever taken so long? On the football front, delighted to get started with a win, I think Rocky Lekaj is one to watch this year!
owl1
Looks like it might be a while yet. Doesnt look like its affecting the players though. good start to pre season. lets hope it continues for the start of the season. come on wednesday!!
forresowl
Owl1, Sheard said in the interview that he had agreed in principal with Wednesdayite, and they were hoping to ballot "today or tomorrow". Tomorrow being today, wednesday. No where in the interview did Sheard even suggest Wednesdayite were "not happy with the package". He did infact praise them. They appear not to be an issue in the deal, its Hulley and Addy.
TarnOwl
Sorry owl1 i take that back. just seen the star.
TarnOwl
can wednesdayite raise some cash to get Hulley a flight back from his hols sooner?? I'm not too fussed if the takeover doesn't happen tomorrow, as long as it does happen within the next few months. I truly believe we'll have a good season anyways, with our talented defence, stronger mid, and experienced attack..... If the takeover happens in the next few months then everyone at the club will get a lift, our profile will be raised, then by the time the january transfer window opens..... bobs your uncle.... Gravesen, Hyypia, and Viduka take a big final payday to help us win promotion.... woo-hoo!!
Norman
What the ***** is Hulley doing on holiday ? He's got a club to sell or players to buy!!!!!!!!!
duds
Wednesdayite anounce ballot! Thank F@#k for that. Just vote yes ,you know it makes sense. Then we can all start slagging Hulley and Addy off.
greeny9
Stop getting your hopes up you deluded Pigs, pretty obvious Sheard is a wind up merchant at your expense. Businessman my @rse, last i heard he was selling PNE shirts in their club shop!
sharpblades
Yeah i agree sharpblades, in fact the last practical joke i played went on for 6 months as well, oh how we laughed. Geoff Sheard is clearly the Jeremy Beadle of football.
TarnOwl
for it to go on as long as it is doing there has to be some truth in the whole matter. It sounds like it is coming together now if not then this was just another ploy to sell season tickets. Lets be fair guys you lot do it every pre-season. Only thing is its not working this time around only 6,500 sold to date.
bladesforlife1889
... without the dodgy hand?
johnnywalker69
It can't be a ploy to sell season tickets bladesforlife, not this time anyway.. because quite simply, this news aint coming out of the club! For once Kaven Walker hasnt opened his trap (he usually does in the summer to sell season tickets). This news is coming outside the club.
johnnywalker69
Awww, poor piggies wouldn't be starting to get a bit worried by this now, would they?! :D You carry on selling Hulse, and we'll see where we are this time next season, ok lads?
NicNac
Blunkett leading Wednesdayite advisors its quite metaphoric
Aston Owl
I can only presume you are referring to 'the blind leading the blind' Aston. Can I just ask what Wednesdayite have done for you to refer to them in such a way? If I have read the wrong sentiments in your comment then I humbly apologise...
NicNac
NN, sorry for the late reply been away over the weekend. I just think the whole leadership of wednesdayite have used the last 3-4 seasons much more for there own personal battle with DA, rather than for the good of the club as a whole. They were very short-sighted in not taking up DA's offer to buy back the stake a few years ago and this whole issue of club ownership may have changed for the better sometime ago had they put personal grievances aside. That's my uninformed opinion, but surely no one can argue that they have been force for good in weds recent history
Aston Owl
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