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Owls Granted 28-Day Adjournment

Wednesday have been granted a 28-day adjournment at the High Court today in a bid to complete a takeover deal and pay-off their tax bill to HMRC.

The Owls were expected to ask for a 14-day court adjournment after failing to complete a deal with one of a reported five consortiums looking to takeover the debt-ridden club.

But, after the case was temporarily put on hold at lunch for the judge to make a decision on the club's future, the outcome has gone in favour of Wednesday.

Club officials will now have 28 days to go away and complete a takeover of the club, or risk going into administration if a deal isn't complete.

A local consortium, headed by local businessman Spencer Fearn, is understood to now be the front-runner for the takeover.

More news to follow throughout the day.




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The Journalist

Writer: Nick Mail feedback, articles or suggestions

Date:Wednesday November 17 2010

Time: 12:57PM

Your Comments

thank ***** right enough is enough now these consortium's need to put up or shut up time for talk is over !
retfordowl1867
Dont hold your breath. Just putting administration off for another 28 days. If any current or former director is involved with any deal, I will end my run of 42 consecutive years as a season ticket holder. Ther eneeds to be wholesale resignations and an extra-ordinary AGM called.
fed_up_owl
Enough is enough, sell the fecking thing asap, can't be bothered with pointless rumours for the next month. Despite being very lucky and getting away with it again, a day in court for us is a disgrace and an embarassment. its quite a concern that we got so close to adminstration and all we still have is rumours. Its going to be a long, long time before we are anything decent again. Hope the board finally do the decent thing and feck off.
DEZZYP
What a beautiful sight to wake up to! Spot on retfordowl. I'm tired of having interested buyers prancing about but not making any hay when the bullet hits the bone. And as for the board... play nice, use your heads, and for crying out loud, put the club before yourselves for once!!!
Colorado Owl
Oh yeah... I forgot that last request of the board DEZZYP *laugh*
Colorado Owl
they wont go. they will have to be pushed. But it needs all the wrotten eggs outing
fed_up_owl
Admnistration would have been the best option, an opportunity to clear out the rubbish (which hopefully would have included the board, some players and manager) and start agian with some chance of becoming something. Any deal now commits us to more of the same for the foreseeable future.
derbyshireowl
Please note: I believe a precedent was set with Luton a few years ago, where over 10points could be deducted because they dragged out the admin process, like we are doing. From what I know I think they were deducted 30points. So if these guys don't get the money they want, it will be admin + a 30 point deduction, while if we went into admin today it would be only 10. The current owners holding out for the most money will eventually kill this club completely. All of those who said F*** off to Club 9 sport's 2million, we would bite their hand off now! Sadly its sell sell sell (players, stadium, training ground etc..) and league 2 for us, if were lucky.
owl1
Luton were docked 30 points due to financial irregularities in dealing with agents and 20 points for its inability to agree to a CVA to bring it out of administration and for the fact that it was the third time in ten years they had been in administration. Stop trying to cause panic with useless conjecture. Keep the faith and your heads Owls fans things will get better one way or another. FIGHT FOR THE WEDNESDAY!
mikydeewilliams
Sorry that would be 10 points for financial irregularities and 20 points for failing to reach a CVA and being in administration for the third time in ten years, 30 points in total.
mikydeewilliams
anybody know if we still have that court hearing on the 1st of dec then, before we go back for this adjournment? just get on with it we need to do this as quick as possible dont just leave it till the last minute as usual, hopefully this wont affect the players too much.
Wednesdayforlife
always look on the bright side of life...
Patrick Blondeau
Yeah we still have the december 1st court appearance. NP said outside court that its really still 14 days we have due to that.
DEZZYP
Enough is Enough now we wont get another F*****g chance.All these people that talk S**t and say take over by end of the week must go.If you are serious about taking over Wednesday you have 28 days to do it.My Uncle works for HMRC and he told me that he expected Wednesday to fold today not Administration but FOLD TODAY FINNITO. Now the Gods must have been with us today as you will never beat the Tax man as my uncle states.My uncle says that Wednesday or the bank must have shown soild i mean pure soild eveidence that a take over was a few days away and that HMRC would give them the Breathing space.But trust me if they F**k up in Twenty eight days the Tax Man will want his pound of flesh and administration wont be an option.So Dave allen the Board of Directors please do the right thing now.
garrymo
Hey Cherries fan here. It's always difficult to see a decent club and a decent group of supporters suffer like this. Many people around me have always thought of you lot as being one of the more down-to-earth and less arrogant than those of many other teams who came down from the top flight. So good luck with your fight and even if administration became a reality, I agree with derbyshireowl that it might be a blessing in disguise when you clear out all the deadwood at the club including the board, but you'll bounce back with your support base and rich history. Just to clarify on the points deduction front: if you go into administration you lose 10 straight away, or carried over to the next season if you're already relegated without the deduction on the final day and you went into administration after a certain date. After that you'll be fine if you can come out of the administration with a CVA. If not then at the start of next season you can still participate but subject to further points deductions. Leeds got 15 for failing to agree a CVA. Rotherham and us got 17 for failing to agree a CVA and having been in administration twice in 10 years. (Well our previous one was more than 10 years ago but the FL screwed us over on that one.) Luton got 20 for the same reason plus having been in admin 3 times in the past 10 years. The other 10 for finacial irregularity was imposed by the FA, and had nothing to do with the League. So if you guys can get a CVA in place then you'll be fine, such as the case of Southampton. Good luck
bb21
I started going to Hillsborough just after the 2nd world war and have been a supporter ever since (I am nearly 72) but I cannot remember a more embarrasing time than this present day. We thoght that the yo - yo years wre bad enough when everyone wanted Eric taylor out but he was a genius compared to this bunch of so called business men. DO THE DECENT THING and RESIGN EN BLOC. Weary old owl
railman
 

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