Where Should The Shares Go?
The latest poll on Vital Sheffield Wednesday looks off the field, as Owls chairman Dave Allen offers to buy back the shares he gifted fans trust 'Wednesdayite' - we want YOUR opinions!...
We simply want to know whether you, the fan, think the 'Wednesdayite' trust should hand back the near 10 per cent share holding in the club, in exchange for club Chairman Dave Allen writing off his £400,000 loan to the club - which was used to fund players in the summer of 2004.
Mr Allen made a plea to 'Wednesdayite' on the official SWFC website last week, saying: 'I would wipe off that loan if we could get the shares back. If they were real Wednesdayites, they would hand those shares back over.'
He continued: 'The recovery of the shares isn't just an issue for myself and the other directors - it's for the long-term benefit of Sheffield Wednesday Football Club. The only way a big investor would be interested in getting involved would be if 51 per cent of the shares were available, and without the aggravation caused by Wednesdayite.'
The loan, which was used to buy a number of players including Steve Maclean, David Lucas, Lee Bullen, Chris Brunt, Glenn Whelen and Jon-Paul McGovern during Chris Turners stint as boss, was due to be paid back after the Owls had achieved promotion to the Championship.
That, of course, was achieved last summer under Paul Sturrock's guidance and Mr Allen is now offering the supporters trust the chance to wipe out his current loan by handing over the near-10 per cent shareholding in the club that was offered to 'Wednesdayite' as a gift by the Owls Chairman and his fellow directors.
Wednesdayite Chairman Darryl Keys responded last week by saying the group had not received any formal offer for their shares, despite articles that appeared in the media.
Mr Allen has already made an offer for the 9.46% share in the club late last year, and the offer of £330,000 was then rejected by the Wednesdayite board.
Mr Keys continued to say that the objections are still likely to remain today should the group receive another offer from the Owls Chairman.
So the story continues, but we want to know what YOU think. Should Wednesdayite return their shares to Dave Allen in exchange for the Owls Chairman writing off his £400,000 loan to the club? Or Should the supporters group keep hold of their 9.46% shareholding and continue to have fan representation in the club?
To VOTE, scroll down to the site poll on the main page. HAVE YOUR SAY on the Vital Sheffield Wednesday Fans Forum
For more information on the supporters group, Wednesdayite, go to our Wednesdayite section HERE or visit the official Wednesdayite website by clicking HERE
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