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Owls To Ask For Court Adjournment

Wednesday will ask for a two-week court adjournment at the High Court tomorrow as negotiations continue to find a new buyer to save the club.

The club have been deep in negotiations with interested parties at Hillsborough today as Wednesday look to find someone to save them from being forced into administration.

The club is in the High Court over an unpaid tax bill tomorrow and it was thought the Co-op Bank could force the club into administration if they failed to find a buyer today.

But with four parties reported to still be interested in a takeover, the club will ask for a two-week adjournment tomorrow in a bid to complete a deal and pay off the bill.

Leicester City chairman Milan Mandaric has confirmed a bid has been made for the club, but the front-runners are believed to be consortiums led by Mick Wright and Spencer Fearn.

Another Middle Eastern group is also said to be in discussions at S6.




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The Journalist

Writer: Nick Mail feedback, articles or suggestions

Date:Tuesday November 16 2010

Time: 5:22PM

Your Comments

if a deal was that likely would they not be doing it now rather than stalling?????
wedalways
Will we ever get taken over, good old Clegg though he's not as much of a waste of space than I originally thought.
SWFC Tubes 84
So we've got to go through the same nerves tomorrow now! Aaagh!
pob
wedalways there must be something holding it all up just been watching sky sports there are 5 interested parties maybe the club is talking to them all to see what they can all offer ?
retfordowl1867
positives :- when weve been in court before we have alwasy managed to raise the cash to pay the debt (sell grant, co-op bail out). This shows we have potential to raise the cash again. Also 5 parties interested looks promising and no one will want to see a club like wednesday go under (unless they are a blade!) negatives:- third apperance in court and the takeover still isnt done. If i was a judge id be inclined to say that these talks are BS and that the club has had 10 years to sort this out and has failed. tomorrow will be interesting
showboat
You dont go to court and ask for that unless you are very confident the court will go for it. Unless it is even worse than it appears
OddOwl
do they not understand deadlines?? and where have they been for the past couple of months?? not meaning to be negative and i hope one of the 5 groups is the right one for wednesday i just dont understand why taking sooooooooo long. hope your right retfordowl1867
wedalways
I don't think tomorrow is going to be a good for anyone associated with Sheffield Wednesday, the only takeover bid which has the funds is from MM which won't go through as Allen is a greedy feck and would probably love nothing more than to see us go out of business. UTO forever & always we will never die
SWFC Tubes 84
it`s a pity all the interested parties dont club together and make no one overall in charge and that any thing that does comes up vote via all of them to put it right
Owlet
Our future is in the hands of judge. Brilliant.
welshyowl
no, feck delaying it, im sick of waiting. mysterious buyers have been in 'deep discussions' for christ knows how long. have a takeover tonight or just throw us in administration now and let all the greedy feckers (dave allen) lose the lot. i dont think we are going straight back up this season anyway so im happy to go in administration,start from scratch and get one clear owner, our club is a mess and needs to start over.
DEZZYP
Whichever way this goes my only hope is the current powers that be in Hillsborough get out and do not come back, there are many times the communication with the fans has been appauling, but today of all days the communication with the people who have kept this club going indicates the esteem they hold us in. I have been checking the website all day at work hoping for some details of what the hell is happening to the club I love, nothing at all, details of tickets for the jpt game with Carlisle, they are happy to take our money and give details of how they want us to part with our hard earned money, but we are not important enough to even consider, even a we cannot give details but this is the situation would have been better than nothing, absolute silence, I hope the lot go and we start again with a board who appreciate us and what we have done for a decade in supporting a team in a way only a handful of clubs in this country would be supported, rant over....for now....not happy at all
Donny Owl
i'm surprised at some of the criticism of Dave Allen, lets remember the 1.5m he put in was to make signings that saved us from relegation in other seasons when we were struggling for players on transfer deadline day. he has stated he will accept a reasonable offer and to be fair who here would accept 250k back? he could have saved his money and let us go down like the directors did last year. other than that what a shambles today was, after months of relative inactivity all of a sudden 4 bids come to the table looking to tie something up in hours. be real!
Hirsty's Shinpads
I might be wrong but I don't think it's the court who puts a club into administration - I think you have to apply for it - therefore you will need to do that, if necessary, before the court hearing. I really hope this doesn't happen but if the court don't grant you an extra two weeks then I think they will wind the club up - at least, I think that's how it works? Hopefully it will all get sorted and for the well being of the club and fans before that
herringthorpe
well, the time is 23:09 and still no sign of this statement 'by the end of play today'. typical of our board.....utter scum.
DEZZYP
it's 23.59 and still nothing, they could not give a s*** about the supporters, the main concern for them is getting as much money as possible and f*****g off, and hopefully they will
Donny Owl
i dont wonna go to bed till i hear this fecking statement, 10 ten 1 now and ive just found this http://www.mirrorfootball.co.uk/news/Sheffield-Wednesday-set-to-go-into-administration-with-a-10-point-penalty-and-possibly-more-to-follow-article630467.html were in big bother and i cant see a way out
smiggyswfc
Well done cleggy boy! You've earned a vote from me!!!
OWL25
I can't see how Dave Allen is to blame, we were in the championship and servicing the debt when he was in charge, how many winding up orders did we have when he was at the helm?? He's owed around 2.4m (1.5m + interest), he's willing to giving up nearly a million in interest and chuck in his shares worth another 500k, seems fair to me!!
sussexowl
sussex - the shares are virtually worthless and if we go into admin the interest would be written off anyway. Yes, he's being reasonable by not asking for the 15.m up front but that's about it!
NicNac
Fair point about the shares, he also doesn't want the 1.5m in one go, 500k now, 500k next year and 500k the year after, sounds like he's being very reasonable to me which some would say has now always been the case with him. I'm not a signed up member to the DA fan club by any means (prob smallest fan club in World!!) )but he's not to blame for the situation Wednesday are now in, for all his faults the club was fairly stable as a business when he was in charge. Anybody who says he's gready for not accepting a one off payment of 250k for what he's owed are talking crap and are not in the real World, if I lend someone money I'd expect it back in full, not just 16% of it. The co op are the largest creditor and are virtually running the club and handling negotiations with potential investors so it will be their decision what happens next, not DA's who's just one of many owed money.
sussexowl
There's a difference between 'a loan' and 'investment' though, isn't there? I mean we've always been told it's a loan but what if it wasn't? What if it was a gamble that didn't pay off? Do you go into WIlliam Hill and demand your money back in full cos it's not fair? I'm not saying 200k specifically is a fair return and he should've accepted it, I'm merely saying maybe he shouldn't be expecting it back in full at all, in fact I'm pretty sure he's willing to accept less than that, particularly if it looks like the club will be wound up rather than put into admin.
NicNac
 

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