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To Sell Or Not To Sell?

To Sell Or Not To Sell?

The latest poll on Vital Sheffield Wednesday asked whether fans group 'Wednesdayite' should sell their near 10 per-cent share holding in the club to chairman Dave Allen - and the topic drew large-scale debate amongst Vital members.

Alas, the results are in, and THREE QUARTERS of Vital Sheffield Wednesday users have voted for Wednedayite to hand over their near 10 per-cent share holding back to Owls chairman Dave Allen.

The Owls chairman made a plea to 'Wednesdayite' on the official SWFC website, 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.'

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.

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.'

Promotion, 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 on the Wednesdayite website 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.

The fans group received the backing of 25 per-cent of Vital Sheffield Wednesday users - some who expressed their opinions on the official Vital SWFC message board.

User, 'CompostBin' said: In summary, the shares should always be open to negotiation on a case by case basis. Mr Allens £400k offer should be rejected because there is no clear benefit to SWFC. Wednesdayite need to publicily seek dialogue with potential investors, alongside the board of SWFC. Anything else from either side is putting their ego before our Club....un-acceptable!

'Wednesdaytilidie' said: I am a member of wednesdayite too. They are well organised and seem like they have some good ideas in the pipeline (such as the small change tin sent out to members). I just hope all their good work doesnt go to waste, and then throw their shares away.

To express YOUR views on this topic, visit the Vital Sheffield Wednesday forum HERE and enter into the debate!

Win FREE pizza with Vital Football!
Select your team and get 50% off if they score twice.
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Writer:Nick
Date:Monday June 5 2006
Time: 12:09PM

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Comments

0
Interesting reading that so many want wednesdayite to sell their shares, I thought it would be the other way round!
newman87
05/06/2006 12:57:00
0
Yes Yes Yes , the club will go no where other wise!
whites11
06/06/2006 12:50:00
0
Are you sure whites? That statement is one you'd expect from any prospective buyer. They would want the control of the club fully. If it was me, then i'd say keep them and keep your say in how the club is run.
FEn_100
21/06/2006 12:50:00
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