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Owls Stand Firm With Club 9 Sports

Owls Stand Firm With Club 9 Sports

Wednesday have hit back at potential investors Club 9 Sports today by insisting that they're standing firm on their rejection of the investment offer made to the club last week.

The Owls, led by Lee Strafford before his resignation earlier this week, turned down an offer reported to be worth an initial £2 million for near enough 40 per cent stake in the club from the American company.

But Club 9 responded through the local and national media by insisting they're still keen on a deal at Hillsborough - giving Wednesday a time frame of until the end of this week to reignite their interest.

Strafford's departure from the club seemed like it could pave the way for another approach from Club 9 this week.

But Owls chief executive Nick Parker has today revealed that the club won't be accepting the offer.

'I have listened with interest to the public announcements made by Club 9 Sports over the past week,' he told the official SWFC website.

'The board made very clear in our statement last Friday that the offer from Club 9 was wholly unacceptable to both us and the bank. Given that they have made no sensible improvement to it since, there is little prospect of taking discussions with them forward any further.'

Parker is set to meet with fan groups sooner rather than later to discuss the current situation at the club, and the long term future.

But, as far as Club 9 Sports is concerned, it seems the ball is back in their court as to whether to improve their offer, or look elsewhere.



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

Writer:Nick
Date:Wednesday May 19 2010
Time: 7:34PM

Comments

0
What are Wednesday thinking about? Just look at the Owls track record over the last 10 years and then look at Club 9`s track record over the same period this could be our last chance do we really want Club 9 to move on and make somebody else great instead ?
Handsworth Owl
19/05/2010 21:17:00
0
We said no to Ken Bates but love him or hate him he as sorted Leeds Utd out they will not be talking about having no money for the next 10 years.
Handsworth Owl
19/05/2010 21:20:00
0
Yes Handsworth he took them into administration half way through a game when they were already relegated, then bought them back for next to nothing, yes he sounds like a someone we can trust i think not.
ecco owl
19/05/2010 22:41:00
0
But look at them now......
Handsworth Owl
19/05/2010 22:42:00
0
The £2million offered by Club9 is nothing compared to the size of the debt. Basically they want a lot for a very little outlay. Im glad the board had the guts to turn them down.
Skeggy Owl
20/05/2010 00:39:00
0
Its not about the board having guts. Its exactly 100% the opposite. They do not want anyone who may not want them involved, Ime not saying Club 9's offer is good or bad, like the rest of us, we dont know the detail and probably never will. Get Grierson and his cronies to publicly state their own positions with regard to the loan notes they hold. Oh, and what has happened to the season ticket money, that now does not seem to be available for the player budget?
fed_up_owl
20/05/2010 09:55:00
0
I'm getting worried now, no money, no new players yet, if this continues then no one will sign for us, as they will see the club as being unstable. Any investment, even if its not the best deal will stabilize the club, in the short term, and provide cash and stability to attract good players and get us back to the championship. Sadly forget about investment to get us to the premier league we need investment to get us back in the championship now, otherwise we will be in league 1 for the next few years.
owl1
20/05/2010 10:02:00
0
It might be hard to take right now, it was for me when I looked at my daughters at 80 minutes against Palace and saw them both in tears. We have seen it before, and Ime afraid to say we will be in League one for a fair shift, a good few years. The people on the board only have their own interests at heart. If they had the clubs, why didnt they take the decision to use some of the money from season ticket sales to get a striker in for the last month. Anyone with any reasonable expectations would have done it. Not this lot that we are stuck with, couldnt support Allen publically when he needed it, so he went. (good or bad) I know one thing, his pride would have made him ensure that we didnt go down, even if it was his own money again. Look what happened when we got beat heavily at Colchester, he sacked Stuurock the next day. The fact is, this lot have not got the slightest clue how we are going to move forward. Have you heard one word from any of them. All hiding behind Wilkinson, like they did behind Strafford. Lets hear from the stuffed dummies on the board.
fed_up_owl
20/05/2010 10:19:00
0
I thought it suberb when they first made an offer but now I'm worried due to the company only being formed in 2009 and having no experience in English football and also some of the investment team look to have a questionable background. 2 mill to start is great but rest of cash not guaranteed, as we're still valued at 25 mil, 2 mil for 40% seems hugely undervalued to me.
bluenwhite
21/05/2010 23:47:00
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