Vital Football

Latest Sheffield Wednesday News

Wednesdayite Withdraw Sale Offer

Wednesdayite Withdraw Sale Offer

Wednesdayite have today revealed that they've withdrawn their offer to sell their shareholding to Geoff Sheard and his consortium after a timescale failed to be met.

The fans' group had backed the Lancashire businessman and have 'given him the benefit of the doubt' in previous instances of him providing proof of funding to mount a takeover at Hillsborough.

But, despite setting a time frame to see the proof, none has come, and Wednesdayite believe there 'is little if any prospect of any deal being completed' by Sheard and his consortium with regards to a takeover of the club.

A statement on the Wednesdayite website read: 'With regard to Geoff Sheard, we have always tried to give him the benefit of the doubt but given his inability to meet our conditions of sale during this protracted period, we are left to conclude that there is little if any prospect of any deal being completed and in these circumstances the Wednesdayite Board has today decided to withdraw our offer to sell our shareholding to him/his consortium.

'This does not prevent him from obtaining his stated aim of a 29.9 per cent shareholding in SWFC through the 3 other major shareholders and it is a matter for them to make their own decisions in this regard.

'Should Mr Sheard be able to prove funds to the satisfaction of our legal advisers in the future, we would be happy to revisit the situation.

'However any such approach would require a determination by way of a fresh member ballot given the intervening developments and in the meantime we feel it is important that ongoing efforts to secure fresh investment are not otherwise hampered.

'We feel it is necessary to provide this honest, if disappointing assessment based on the facts as we know them and we hope members and the wider fan base will understand our decision in that every opportunity has been afforded to Mr Sheard to complete the purchase of our shares.

'We are nevertheless still committed to our shareholding playing its part in a better future for the club and we have been active in trying to explore alternative potential solutions.

'In this respect, we will be writing to the club's Board this week with a constructive proposal, seeking their agreement to involve the wider SWFC business community and fanbase in an alternative structure which, if supported, might provide the catalyst for a better future for SWFC.'

For more on Wednesdayite, visit their website at www.wednesdayite.com

Win FREE pizza with Vital Football!
Select your team and get 50% off if they score twice.
www.papajohns.co.uk/football



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

Writer:Nick
Date:Tuesday October 28 2008
Time: 9:57AM

Comments

0
About time they kicked him into touch - he has had more than enough time to show that his backers are serious about a takeover.
CLIFFANDJ
28/10/2008 12:23:00
0
The Yorkshire Post are also running an interesting story on the background of Sheard's alleged backers. See this link: http://www.yorkshirepost.co.uk/sheffield-wed/Owls-takeover-deal-duo-revealed.4634635.jp
CLIFFANDJ
28/10/2008 12:38:00
0
It's about time someone took a stand against the farce that has been going on for 10 months now.
US Owl
28/10/2008 13:21:00
0
Thank god Wednesdayite are getting some praise, as far as I'm concerned they're one of the few participants to come out of the whole charade with any credit
robc
28/10/2008 15:45:00
0
WAHEY.
will_swfc9
31/10/2008 15:14:00
Page 1/1
  1. 1

Login to post a comment

Recent Sheffield Wednesday Articles

Video - Highlights of Wednesday's Win Over Cardiff City

Watch all the highlights within and share your thoughts in the comments section

Wednesday Beat Bluebirds To Seal Playoff Place

#CarlosHadADream rang out as Wednesday players, staff and fans finally secured a spot in the end of season playoffs with an impressive 3-0 win over Cardiff City. Try as Dave Jones, the Welsh media and

Stats: Wednesday v Cardiff City

All the stats from Wednesday (3) vs (0) Cardiff City , Hillsborough, 3pm Saturday April 30th, 2016 Att: 31,843

Audio & Comments - Carlos Reacts to #swfc Reaching Playoffs

Carlos Carvalhal thanks fans and moves concentration onto the coming match Vs Wolves

Archived Vital Wednesday Articles

Vital Wednesday articles from

Site Journalists

Ed Jepson
Editor email
Profile
Josh Alex Caddick
no email
Profile
Greg Pursehouse
no email
Profile

Current Poll (see more polls)

Should Wednesday rest Forestieri against Wolves?
Suggested By: Vital Wednesday
Yes, keep him fresh!94%
No, let's go for fifth spot!6%
ScoopDragon Publishing Entire League Network of Sites

League Table

# Team P W D L Pts. GD
1 Middlesbrough 45 26 10 9 88 32
2 Burnley 44 24 15 5 87 33
3 Brighton 44 24 15 5 87 30
4 Hull City 45 23 11 11 80 30
5 Derby County 44 21 14 9 77 24
6 Sheff Wed 45 19 17 9 74 22
7 Cardiff 45 17 16 12 67 5
8 Ipswich 45 17 15 13 66 1
9 Birmingham 45 16 14 15 62 4
10 Brentford 45 18 8 19 62 1
11 Preston 45 15 16 14 61 0
12 Leeds Utd 45 14 16 15 58 -8
13 Q.P.R. 44 13 18 13 57 0
14 Wolves 45 13 16 16 55 -6
15 Blackburn 45 12 16 17 52 -2
16 Reading 45 13 13 19 52 -5
17 Forest 45 12 16 17 52 -5
18 Bristol City 45 13 13 19 52 -16
19 Huddersfield 45 13 12 20 51 -7
20 Rotherham 45 13 10 22 49 -14
21 Fulham 45 11 15 19 48 -14
R Charlton 45 9 13 23 40 -37
R MK Dons 45 9 12 24 39 -29
R Bolton 45 5 15 25 30 -39
Latest F1 News
Latest Vital Boxing News

Recent Sheffield Wednesday Results (view all)

Sheffield Wednesday Fixtures (view all)

May 7 2016 12:30PM : Wolverhampton Wanderers (a)
Sky Bet Championship

Vital Members League Table

RankNamePoints
1.dooleys left leg1