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Darryl Keys Takeover Q & A: Part 1

Darryl Keys Takeover Q & A: Part 1

Wednesdayite chairman Darryl Keys was kind enough to come on Vital SWFC to answer your questions regarding the takeover saga at S6, and for those unfortunate to miss out - here are the details from the question and answer session...

US Owl: How confident is he that Geoff Sheard will still be able to buy at least 29.9% of shares and take effective control of the club, plus invest sufficient money to get the club heading in the right direction?

DK: Due to the length of time, I guess like most people I have my doubts, but having spoken with GS just this evening, he is totally sure it will go through. I think it just needs to be done one way or the other.

US Owl: If the Sheard deal does fall through, as most of us are expecting now, are any of the three other interested parties serious contenders to buy the club and are we allowed to know who they are?

DK: I believe there are more than three but I only have contact with 3 parties who are all early stage. One in particular is interesting I would say. But I can't speak for the others outside those 3.

US Owl: Those of us who are Wednesdayite members would like to know if we will be given any say in any further offers from other investors, should the Sheard deal fall through.

DK: Absolutely. If we want to sell to any other party, we have to get the members' approval.

US Owl: Is there any possibility that Geoff Sheard could be persuaded to come on this forum and let us know what is going on? We do understand that many business dealings are confidential, but a little openness & honesty would go a long way to getting a lot of fans back on his side.

DK: Wednesdayite is in no different a position re funds verification as we were back on August 6 when members voted in the ballot. We keep urging him to prove funds to us.

gudetehowl: Is he aware of the fans getting very impatient and annoyed that 9 months down the line no news has been given?

DK: Absolutely - and we have told him he just needs to do the deal now, or let's get on with life.

Skeggy Owl: Do you know anything about the supposed meeting last week between the board at S6 and a group of Americans, as it has been said that 'due dilligence' has been completed by them.

DK: No - but I have heard the rumour that at least 2 possible bidders are interested via club routes - I can't confirm this as SWFC will not talk about it - so its just rumour.

I have heard that at least 1 US source has expressed an interest but I don't know much more than that in terms of how far they may have reached if at all.

US Owl: Do you know if there is any truth to the recent rumour of a bid from a US consortium, possibly fronted by ex-player John Harkes?

DK: I've heard the rumour but no more than that.

David Hirst: What the reasoning is behind the delay in the completion of the takeover?

DK: The 4 shareholders all are happy to sell. Its a matter of funds being delivered to finalise the deal. GS knows it is only he who can deliver this and to date it has not materialised. For balance, he is resolute he can do it within the next 15 days.

David Hirst: What remains to be done in order for it go through?

DK: The money - there is no doubt in my mind there are willing sellers.

Radders60: GS is a buisness man , surly his credentials in the buisness world will be zero if the takeover does not happen. Has he been let down by the investors who first set him on the task to take over s6 and now is he is trying to save face by finding new backers. IE cash to seal the deal.

DK: GS has always stated he is not the money man - he is the representative or front man. My fear is he is being placed in a very difficult position by the people behind the deal and I feel for him if that turns out to be the case. I had exactly that conversation with him last night but he remains steadfast that it can be done.

We are told that the current backers have been involved for several months and for everyone's sake, the deal now needs to be completed - not least Geoff himself.

Placebo: Assuming a GS takeover, will DK be getting a place on the board to help repair some of the damage caused by previous chairmen/directors?

DK: Wednesdayite do not seek a place on the Board - we would prefer to have regular formal dialogue with the board, which we believe is more effective.

I do not seek a place on the board and have enough to do as Wednesdayite Chairman - in any case, my own circumstances might well see me having to move abroad in the next few months.

Being open and honest, GS has indicated he would like me to play a role - but as I said, the only role I want to play is within Wednesdayite.

Placebo: 2. Will KW be replaced due to the fact there is an almost unanimous feeling of ill will and discontent towards him due to the way he's represented the club in recent years?

KW: I understand that concern but have no idea what the plans of any bidder are. I can only say that during and since our meeting with SWFC last week, KW has been first class, very open and willing to listen and co-operate and we hope that can continue as it was never in the club's interests or ours for the divide to continue.

We'll be running the second part of the Q & A on Vital Sheffield Wednesday tomorrow - check back then for more, or get yourself on the Vital SWFC forum to view the talk in full, and join the discussion!

Click here to join in the debate on the club forum.

Date:Friday September 26 2008
Time: 2:33PM


Can any of us really believe Geoff Sheard and his backers can provide the financial stability required to take the club forward in view of there inability to provide proof of funds to buy the club let alone take the club forward
26/09/2008 16:05:00
nevermind im going to win euro millions tomorrow and buy us myself
26/09/2008 16:18:00
Maybe it is time to tell Mr Sheard to go away and leave us alone so we can go and find someone who has the money to make a takeover bid.
Handsworth Owl
26/09/2008 17:57:00
sheard going away isnt goin to affect whether other people bid, good to finally here that d and t are doing something. Maybe the US consortium could be more of a starter or at the very least make sheard remember where he put the money, its probably down the back of the sofa
26/09/2008 20:01:00
Look at it this way, the takeover saga has been carrying on for far too long everyone will agree on that one. While everyone will say it is Geoff Sheard's fault, and to some extent they would be right to say that. On the other hand could just as much blame be laid at the boards feet ? The reason I say that is that in the last few weeks when all the accusations have been going around, wouldnt it have been just as easy for the board to say "look Geoff Im sorry be this has gone on far too long and we are going to pursue other offers"
Skeggy Owl
26/09/2008 20:47:00
carnt you muppets see that this interview is all fabricated and full of total lies and delusions!!! you will believe west sham are not guilty next!!
26/09/2008 21:21:00
Listen you annoying little tickturd. There is only one thing that is all pure fabrication and full of lies, and that is every single thing that come out of your mouth. And for the record, yes I think West Ham WERE guilty and WERE dealt with in the correct manner by the FA i.e a 5.5mil fine. So instead of the sorry excuse you call a football club keep whining how hard done by West Ham you were, its the FA that should be coughing up the money. At the end of the day yes you should have stayed up, the thing was you werent good enough to do so, So take your snivelling little snout back onto your own board and go and find someone that actually cares.
Skeggy Owl
26/09/2008 21:38:00
your comments above just show how bitter you are. every wendy fan i know are behind us. as for the winging comment all i'm saying is 'take over' or should i say 'non take over' ha ha ha ha deluded poor relations.
26/09/2008 23:08:00
Bitter, I think you must be seriously mistaken because that couldnt be further from the truth. See the title of this article, thats what WE as fans on here want to talk about. You come out with "its all fabricated" when you obviously dont know what I went through to get Daryl to come on here and answer some questions. Ive told you before and tell you again, if you had wanted to come on here and talk about football in a manner that is appropriate then fine but you cant do that. You are now going to come back with "well some of your lot started with the name calling" and you would be right saying that, I will admit that. But you have to say to yourself I dont care, or words to that effect, what they say I am going to rise above that. Several times I have said that I thought you were an ok person but, whether you like it or not, you let me down. As for every Wednesday fan you know agreeing with you, well thats up to them but what I wrote is my opinion and the last time I looked freedom of speach wasnt illegal. Blaming one man for making Utd play the way they did, or the ex manager saying it wasd Tevez that got him sacked, is he for real ? You and your friends have constantly taken this p1ss out Wednesday over the last few weeks about this takeover, and do you know what you will find that a lot of us are getting sick and tired of it now and want the the whole saga sorted. So tell me how do you expect us to react when you and your mates come out making the comments that you do ? Im sorry but do you expect to agree with you comments and let it go ?
Skeggy Owl
27/09/2008 10:15:00
all im saying is practice what you preach darling, because over the past few weeks you have taken it upon yourself to come onto our site on slate us non stop, and unprovoked!!xxxxxxxxxxxxx
27/09/2008 10:22:00
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