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Club 9 Give Owls Investment Deadline

Club 9 Sports, the American-based investment company, have revealed that they're still looking to invest at Hillsborough and have given the club a week to reignite their interest in a deal.

The company have been holding talks about potential investment in Wednesday for months but had an offer turned down last week, reported to be of an initial 2 million for a near-40 per cent stake in the club.

But since Lee Strafford left his post as club chairman on Monday, Club 9 have continued to hover round S6 and told BBC Radio Sheffield that they're still ready to invest in the club - but they've set a deadline.

'This is the club we want, but we will have to move on,' Club 9 director Jon Pritchett told BBC Radio Sheffield.

'I would say we're willing to give it this week.'

Wednesdayites have cast doubts over the company and their relationship with the club, despite Strafford's attempts to get investment into S6 since his arrival.

But it'll now be down to the current Owls board, without Strafford, to decide whether Club 9 are right or wrong for Wednesday.




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The Journalist

Writer: Nick Mail feedback, articles or suggestions

Date:Tuesday May 18 2010

Time: 6:19PM

Your Comments

double it or ***** off would be my response
gforceswfc
gforceswfc are you on crack, we want more than 4million !!! total moron
SWFC_LUKE
I'd take the risk and take the offer- the way I see it we cant be much off worse than we are right now and i cant ever see anybody else coming along willing to offer money...i know the offers a bit of an insult but we're in a situation now where beggars can't be choosers. Our club has been on it's knees for too long now guys.
Carbone's Padawan
ha ha! a league one club, 20+ Million pounds in debt, stadium falling to pieces, I'm not on crack I smoke the reality pipe. these american boss ends have already stated that if we acheive promotion they would "infuse" more money into the club. If you think we should be getting more than 5 mill for 40% of this club you are a moron. get real
gforceswfc
we've got nothing to lose, I say we just go for it. Its a grim reality that u need money these days to succeed, so if u can't beat 'em, join 'em. They're a professional compnay who will do everything in our best interests to make it worthwhile for them too. People often forget that investors want the club to succeed just as much as the fans, otherwise what would be the point in them investing
Norman
I am quite glad that Club 9 have given SWFC a deadline - not because it's necessarily the best offer around but because if there are any other serious investors talking to the club they will have to show their hands pretty quickly. Either way, things should be a bit clearer in a few days.
CLIFFANDJ
Agree with Norman, they are not out to get us, they want us to succeed, and have the resources to make that happen.
owl1
I would entertain any serious investor who would insist that there had to be a clean sweep of the dead wood on the board. Greirson your number is up. Fall on your sword, do the honourable thing. The only thing this curent board are interested in is the loan notes that they are holding. That is now, and will always be the stumbling block. Forget about them boys, take an offer of repayment when we reach the promised land. You got us in this s**t.
fed_up_owl
I think people have become a bit deluded by seeing takeovers like Chelsea's and Man City's so now they think that unless someone is coming in with at least 30 million and loads more millions to spend then it can't be a good deal. It seems that the sensible way to take a club with a huge debt forward is to bring stability and build slowly. I think the days of tycoon*s coming along and throwing money at a football club have gone and you can forget it if you're in League 1 with 26m debt. I don't think the offer is too bad in the long term and it gives us a fighting chance of making some progress. Without it, we're back to scratching around for sub-standard players while our best players leave and hoping that we're going to achieve miracles. Eventually, we all have to accept that way of doing thing's just won't bring success. Last season proved that more than any other.
baldowl
100% with you on that one baldowl.
Carbone's Padawan
I can see both arguments but I'd have to say 2 million is much too low, especially with the 400k per year management fee. (If thats true?)
rebootman
My initial reaction was tell them to shuv it. But its time this club did something to change, we've be looking for investors too long now and they are our only option. They are a well accredited managment company with a good resume of major sports teams throughout the world. Plus its an "initial" investment. It cant be any worse than the state we're in.
MightyWednesday
I can see all sides but baldowl makes a great point, Look what happened to Notts County! I know they got promoted but you have to beware if someone with a bit pot of money!!
Bognor_Owl
We surely still cant be 26 million in debt.
ollyowl70
Oh yes we are!
CLIFFANDJ
See official site - the board have once again rejected Club 9's offer and don't see the need to continue further talks.
CLIFFANDJ
 

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