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Owls Reject Club 9 Approach

Owls Reject Club 9 Approach

Sheffield Wednesday have today rejected an approach from Club 9 Sports LCC with regards to investment into the club.

The Owls have confirmed that they've received communication from American-based Club 9 this week with regards to an initial £2 million investment into the club.

But the club have today responded by rejecting the offer due to it being 'significantly lower level than had previously been agreed by all parties' back in March of this year.

A statement on the official SWFC website read: 'Dependent on which division Sheffield Wednesday would start the 2010-2011 season, there was agreement on the initial level of investment by Club 9.'

It continued: 'The communication this week made it clear that Club 9 wanted to change the terms already agreed and wished to make a lower investment into Sheffield Wednesday.'

The offer made by club 9 indicated that they wanted circa 40% of the club's total share capital for the £2m investment, which would work out at just £1.6m after expenses.

It could spell the end of Wednesday's links with Club 9, but the club have revealed that they'll continue to look for potential investment.

The statement read: 'The board continues to engage with other serious potential investors and while there can be no certainty that any deal will be completed this summer, the interest of these parties continues to highlight the potential of Sheffield Wednesday moving forward.'

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

Writer:Nick
Date:Friday May 14 2010
Time: 12:14PM

Comments

0
Cheeky gets. Tell em to shuv it up their ar*e and dont come back. We can see what their all about now cant we.
MightyWednesday
14/05/2010 12:37:00
0
moving forward we avnt moved forward in years.
ollyowl70
14/05/2010 12:40:00
0
you could get a better deal on dragons den wheres duncan ballentine when you need him .
beverley owl
14/05/2010 12:52:00
0
It would be interesting to know what it would have been had we not got relegated. By the sounds of it it wouldn't have made much difference. That kind of investment we can do without. I bet us lot on this site could raise nearly that between us with credit cards and equity. What a joke.
Radon Barrier
14/05/2010 13:16:00
0
the problem i see is that we have been linked with club 9 for so long and this is the end result so we could be looking at years before we get a serious offer
bradford_owl
14/05/2010 13:21:00
0
Yep agree bradford_owl,so once agen our hopes n dreams shattered and will now av to listen to LS saying ow much the club is relying on supporters to buy season tickets etc etc showing our support,wot does he think we've been doin week in week out for the last how ever many seasons we've been supporters.Why doesnt he splash sum cash like Dave Allen did in times of trouble.To be honest i think this whole club 9 thing was all a hoax just to keep us all on our toes and give us summat to hang onto,makes me sick to the bone to say but maybe goin into admin wudnt be such a bad thing and starting agen.
ollyowl70
14/05/2010 13:49:00
0
let’s just go into bankruptcy take the ten point we owe nothing to anyone and then we will be a more attractive offer to investors as they can get the club for cheap pay nothing to no one and invest on the team where it's needed ps Irvine will go to Cov now any bets?
HorburyOwl
14/05/2010 15:06:00
0
We are a complete joke Lee Strafford is a complete joke. I liken him to the New Labour of 1997 and Tony Blair with all his spin. What a total and utter disgrace and you're right whoever said it, it will be upto the fans agin to be blammed if funny enough we don't want to or can afford to buy season tickets and everything else LS says. To hell with them
jamesc1905
14/05/2010 15:58:00
0
Can't agree with Horbury Owl - going into administration wouldn't bring any good, just a lack of confidence in the club and lowering of morale of staff and supporters. We need investment, yes, but not at any price.
owling wolf
14/05/2010 17:43:00
0
Radon it was supposed to be £20 million if we were still in the championship. Like I said the other day Stafford talks out of his backside. You wouldn't hear Dave Allen gobbing off about investment until the deal was done. Come back uncle Dave all is forgiven.
duds
14/05/2010 18:24:00
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