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Fearn Consortium Enters Owls Talks

Fearn Consortium Enters Owls Talks

A Spencer Fearn-led consortium will enter discussions with Wednesday this afternoon about a takeover of the club, according to reports.

With time ticking away on Wednesday's bid to secure a takeover deal and avoid administration, BBC Radio Sheffield's Seth Bennett has revealed via his Twitter feed that the club will enter talks with two groups this afternoon, including one led by Fearn.

The Owls need to find a buyer today or risk being plunged into administration ahead of tomorrow's High Court date for an unpaid tax bill.

And with the Milan Mandaric offer up in the air, Wednesdayites could be counting on one of this afternoon's discussions to come to fruition.

Negotiations are currently on-going at Hillsborough and Owls fans are waiting to hear some official news from the club.

BBC Radio Sheffield reported earlier that Mandaric's interest was at an end earlier today, but Vital understands the Leicester City chairman's bid isn't totally dead in the water just yet.

But with former Owls chairman Dave Allen already rejecting what he described as a 'derisory' offer for his shares and loan notes from Mandaric last week, it looks like Fearn's consortium could currently be leading the way if the club is to be saved.

Keep checking Vital Wednesday for all the latest updates from Hillsborough.

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

Writer:Nick
Date:Tuesday November 16 2010
Time: 2:02PM

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Comments

0
quickly running out of options here. fingers crossed for a deal.
showboat
16/11/2010 14:08:00
0
Isn't Fearn a Wednesday fan and a rich businessman? If so it would make perfect sense and he can pay off the tax bill. Probably not that straight forward but all we need is someone to help us out with the paying of the tax bill to give us a little more time.
spirtySWFC
16/11/2010 14:13:00
0
all a bit nervous really. this could be the end...
Carbone's Padawan
16/11/2010 14:39:00
0
I have every confidence this won't be the end a lot of people care about our club including Mandaric.
jamesc1905
16/11/2010 14:55:00
0
come on spencer pull it off
retfordowl1867
16/11/2010 15:02:00
0
jamesc1905 - I heard Mandaric has pulled out. would've loved him to save us but don't think it'll happen now. It's Spencer or bust.
Carbone's Padawan
16/11/2010 15:04:00
0
i'd rather just hear facts now, not regular rumour updates. admittedly im not the greatest business an in the world, but from the outside, leaving it until the last minute would surely be the best time to buy a club, let the current board sweat and get a better deal.....i hope thats true anyway. If not, administration it is a new beginning i hope.
DEZZYP
16/11/2010 15:31:00
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