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Owls Respond To Takeover Talk

Owls Respond To Takeover Talk

In light of reports linking Club 9 Sports with another offer to invest in Wednesday, the Owls board have issued a club statement this afternoon.

And it seems that the American-based consortium are no closer to reaching an agreement, despite reports linking Wednesdayite and boxing promoter Dennis Hobson with the Club 9 bid.

The Owls board have responded by saying that they're continuing talks with 'credible long term investment partners' while Club 9 'continue to make noise in the media'.

Here's the statement in full: 'In our search for new investment, we have set a number of key conditions for potential partners who wish to be part of the Club moving forward. Central to these is the ability to invest money into the Club straight away.

'We have stated in the past that £5m is the minimum figure that is needed to assist the Club on day one. This figure would allow for a major reduction in the debt position of the Club and would ultimately give more resources to the manager to invest in the playing squad.

'It is the duty of the Board to protect the long term interests of the Football Club. We recognise that investment is needed but will not let anybody take control of Sheffield Wednesday, unless they have the ability to meet the Club's financial requirements in the short, medium and long term. This is a position that is supported by the Co-operative Bank.

'We have been approached by a number of interested parties and it is true to say that we have been made offers that fall short of the conditions that have been set. Club 9 Sports LLC is one such party and while they continue to make noise in the media, we focus on negotiations with credible long term investment partners.

'The Co-operative Bank is playing an active role in these other discussions and remains fully supportive of the stance taken by the Board.

'Out of respect for all parties and to allow for the Club to focus on the start of the new season, we will not be making any further comment on the investment process until such time as there is firm news to deliver to our supporters.'



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

Writer:Nick
Date:Friday July 30 2010
Time: 5:03PM

Comments

0
Arrghhhh........ I said previously: Noooooooooooooooooooooooooooo!!!!!! Please NO more speculation takeover twaddle, blah blah Hobson, blah blah S-Club 7 "reach for the stars, climb every mountain"..... Sorry Club 9, blah blah the board, blah blah American Football, blah blah bloody blah..... BORING, ENOUGH IS ENOUGH. UTO, WTID.
Owlsmad
30/07/2010 17:15:00
0
you feeling ok man?
bladesforlife1889
30/07/2010 17:54:00
0
bladesforlife1889 weve got a new freind for you called Landon fill your boots with this one
Waddle1993
30/07/2010 18:01:00
0
If my Euro numbers come up tonight I'll put the 5 mil in if the wife will let me lol! Let's hope a serious investor turns up...and not Club 9 whose strategy seems to be to try and get the club on the cheap by winding supporters up via the media. The Board don't always make the best decisions, the Grant transfer fee is one example but I think we are worth more than 3 million as an up front investment.
CLIFFANDJ
30/07/2010 18:08:00
0
goodness me some of my fellow wednesday fans live in la la land the club is worth what someone is willing to pay for it very similar to your house when you put that on the market sometimes you have to wake up and smell the coffee which i fear a great many of us need to do and realise that we are what we are and we are worth what we are worth. C9 sports are the only ones who have continued to come back and back despite all that has been thrown at them from the board to the 'supporters' and still want to invest in this club and we should be greatful not mocking them with scorn and ridicule we are a laughing stock of english football a prime example of 'how not to run a football club'. REMOVE THE BOARD GET C9 SPORTS IN RUNNING THE CLUB!!!
aussie2005
30/07/2010 20:44:00
0
Aussie Club9 are a shambles of an outfit 3mill and our 5mill is the investment for the season not a club valuation. It took them best part of a year to scrape together 2mill then hobson throws in another 1m. They're still 2m short what happens in following seasons? Where would the money for that come from?
nice1emile
30/07/2010 21:26:00
0
remember club9 had other investers willing to put money in till we went down then they pulled out meaning they are in for one thing filling their pockets like the yanks at man.u just think of the money that will be comming in if we get the world cup,I say stick to your instinks and wait for the ones that want to do well for the club not their pockets
Owlet
30/07/2010 21:51:00
0
I think it's way past time that C9S either pay the asking price or do one..........
US Owl
30/07/2010 21:59:00
0
to be fair who cares a toss if someone buys the club on the cheap? it is what they do with it after they have got control that matters. the price paid for taking ownership only benefits the current owners (that is those who have got the club in its current position) and the ego of fans who want to say we're worth £30m or whatever.
Hirsty's Shinpads
30/07/2010 22:03:00
0
Aussie2005 and others that may share his views. Yes I agree the club is worth what an investor is willing to pay but we don't need to throw ourselves at the feet of the first person to make an offer - you wouldn't if you were selling your house. The fact that Club 9 have made 3 offers now shows that they know there is money to be made. If they want it that badly then they will come up with an offer acceptable to the board.
CLIFFANDJ
30/07/2010 22:16:00
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