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Owls Confirm Imminent Investment

Owls Confirm Imminent Investment

It's been a long time coming, but Wednesday have confirmed that the club is in 'advanced' talks with an unnamed investment consortium, believed to be led by former Owls player and manager Chris Turner.

The club released a statement last night saying that 'legal formalities of the investment process are advanced and are presently being finalised', although the investor has asked for their identity to be confidential until the deal is finalised.

The investor will also advance £2 million to the club as a sign of goodwill to help Wednesday improve their cash flow and fight off recent court appearances due to unpaid tax to the HMRC.

It's believed that the consortium includes former Wednesday goalkeeper and manager Chris Turner, who heads a wealthy Norweigen oil company.

Owls chairman Howard Wilkinson said: 'I am delighted that a bona fide investor has confirmed their commitment to be long term investors in Sheffield Wednesday. I am equally happy that as a sign of their commitment, the investor will inject some short term working capital into the Club.

'Such a step reassures us with regard to the intentions of the investor, while we have also been impressed by the way they have steadfastly remained committed to the investment process.

'We still have a small way to go before we can provide full details as to the longer term future, but I believe today's news should act as a calming influence upon all of stakeholders, especially our supporters and playing staff.'

A spokesman for the third party investor has said: 'We are committed to being long term partners of the fans and other stakeholders of Sheffield Wednesday Football Club.

'It is quite clear that the Club has both a short term financial need, while longer term investment is needed to assist in rejuvenating the Owls. The short term need is greatest and so our initial payment is being made to allow for the investment process to conclude without the distracting fear of administration.

'When appropriate we will share with fans our longer term aspirations for the Club, but for now I ask everybody associated with Sheffield Wednesday to continue getting behind the team and focus on what happens on the pitch.'

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

Writer:Nick
Date:Saturday October 9 2010
Time: 10:38AM

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Comments

0
well, CT wasn't much of a manager for us but if he pulls this through to us he's going down in Wednesday folklore for all the right reasons. fingers crossed this one's the real deal.
Carbone's Padawan
09/10/2010 10:44:00
0
It's hard to belive after years of time wasters and false truths,but i think it is only a few days away.It is on the offical site and in the papers and them to stump up 2mill to start is not to be snared at.
garrymo
09/10/2010 12:19:00
0
Just wan to say how pleased I am that my club appears to have a saviour at last. I sincerely hope the deal goes through and AI and the team can just concentrate on winning football games. To Mr Turner and his backers I would say THANKYOU and welcome to SWFC. You have the chance to take this great club back to where it belongs.
Whitham's Jockstrap
09/10/2010 13:43:00
0
sat in the kop all ready waiting for the game let's get behind the lads from the off
retfordowl1867
09/10/2010 13:52:00
0
well done Wilkinson never been a big fan but credit where credits due. Think this will swell the gate today
vic mobley
09/10/2010 13:52:00
0
good old turner, always been a big fan of him, may not have been the best manager but he was the man that signed brunt and whelan amongst others.
ozzietheowl
09/10/2010 15:35:00
0
quite liked turner as a player, so im pleased he's involved (if its true of course) to redeem himself after his poor stint as manager. also, pleased theres somebody who actually cares about the club involved.
DEZZYP
10/10/2010 09:31:00
0
Investment's off, I've checked my ticket and didn't win Euromillions...bugger!!!
sussexowl
11/10/2010 17:25:00
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