Owls' Investment Blow
Wednesday's bid to secure new investment in the club by the end of the month has taken a set-back after the club revealed that 'not all parties' have agreed to the debt restructure.
Chairman Lee Strafford and chief executive Nick Parker were aiming to secure fresh investment at Hillsborough, with a deadline of March 31 named.
But the club have today released a a statement confirming initial fears that not all parties involved in the investment process have come to an agreement with regards to the debt structure.
The club were looking at a number of compromises from creditors and shareholders in order to speed up, and complete, the process of investment.
But an agreement has not yet been reached, putting back the process of a takeover and leaving it extremely unlikely that the March 31 deadline will be met.
In the statement, the club revealed that they've held positive talks with the majority of parties involved in the process.
Former chairman Dave Allen revealed to BBC Radio Sheffield yesterday that he has yet to agree a deal to sell his stake in the Owls, only wanting to do such a deal if he is repaid what he's owed in full.
And in his interview, Allen revealed that he has only been offered two-third's of what he's owed.
It seems the problems have stopped at a familiar crossroads once again for the Owls, and Wednesday fans will be keen for the current problems to be sorted out as quickly as possible.
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