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Co-Op Extends Debt To Aid Owls

Wednesday's major creditor, the Co-Operative Bank, have stepped in to help the Owls following relegation by extending the debt by 3 million to cover next season's losses.

It was thought that Wednesday's best players may have to be sold to cover the costs of relegation from the Championship last season.

But Alan Irvine will be able to keep the Owls' star players following a deal struck with teh Co-Op, as reported in today's Yorkshire Post.

It's understood that Wednesday already owe the Co-Op over 21m.

But a deal is thought to have been agreed to extend this by 3m to cover loss of revenue in npower League One next term.

It's good news for Wednesday in terms of keeping their best players - and keeping their chances of a swift return to the Championship firmly in tact.

But it means there will be that little bit of extra pressure to return at the first attempt in 2010-11, to try and make that money back through television revenue and other revenue which comes thanks to promotion.

And Wednesday could still sell players such as Lee Grant, Marcus Tudgay and Mark Beevers should 'good' offers come in for the trio, or any other players, such is the Owls' financial situation.

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The Journalist

Writer: Nick Mail feedback, articles or suggestions

Date:Thursday July 8 2010

Time: 10:49AM

Your Comments

Hartlepool fan in peace- That is a lot of money for a league 1 club to owe.
lot of money for anyone to owe, we need to be back in the nig time ASAP
They will do anything to make sure that we dont go into administration. Grierson has family at the bank who's head would be on the block.
unbelievable this is!! don't know how you lot are allowed to do this!! if you don't go up which i don't think you will then you will be well and truely in the brown stuff more than you are now.
only brown stuff round here is whats smeared across your piggy little face after tossin your fathers salad!
Who's really bothered what you think pig scum, get your own house in order before you comment on us, i believe it was 50m that your in debt, not going to get that back so quickly giving little piglets free season tickets.
ecco owl
we are allowed to do this because we service the loan you dumpling. if we stopped servicing the loan then i guess they would pull the plug
Hirsty's Shinpads
Exactly Hirsty's Shinpads, the size of the debt is largely irrevelant, if the club is run profitably (which it is) and can service the debt (which it can) it's not a problem. Let's list all 92 league clubs and the amount of debt they carry and Wednesday wouldn't be anywhere near the top. Stop exaggerating the issue BFL and worry about your own shower of a club and how that amazing squad KB has built will avoid relegation next season.
im doing a sponsored bike ride to raise funds for mellons gastric by-pass operation before the start of the season if anyone is interested in donating than please make payment to the following!!
if he sticks the ball in the back of the net i couldn't care a toss what he weighs
Hirsty's Shinpads
sponsored bike ride? is your mum out of prison already?
Has he got any parents, i think he was raised by sheepdogs.
ecco owl
Mellor is 6ft n weighs 13st 8lbs hardly call that fat.
Mellor is 6ft n weighs 13st 8lbs hardly call that fat.n he ripped your defence to bits was it last season or season before with that solo goal he scored.
13st 8lbs ha ha ha fattys always make out they are 2 stone lighter than they actually are so in other words he's 15st 8lbs.
he's 6ft for gods sake, what's he expected to weigh..10 stone???
aye your mums always saying shes only 48 stone pfl. but we both know the truth dont we?!
why do kids always revert to 'your mum' comments when trying to win an argument? you soft simple lad ozziethepig!!
kids? i assure you young man i am no child. im not trying to win an argument, it would be impossible to win an argument as someone so moronic as yourself. now im off to bed cos i have work first thing, you should get to bed too, dont want your dad getting home from the pub to still find you up.
Told today Wednesday would be signing Clinton Morrison on monday ?
ecco owl
ha ha ha ha ha ha ha ha ha ha
pfl henderson weighs 13st 9lb so is he really 15st 9lb.

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