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Mandaric Gives Owls £20m Ultimatum

Mandaric Gives Owls £20m Ultimatum

Sky Sports News is today reporting that Leicester City chairman Milan Mandaric will withdraw his offer to buy Wednesday if a deal isn't completed this weekend.

The Serbian-American businessman announced his interest in the club last week, presenting a deal to the Co-op Bank, the clubs major creditors, and the current loan note holders.

Although it's understood the Co-op Bank was in favour of his offer, Mandaric couldn't agree terms with former Owls chairman Dave Allen, who called the offer for his shares 'derisory', and one other loan note holder.

Mandaric, who would have to step down from his role as Foxes chairman to complete any deal at S6, had left his offer on the table before Wednesday were due in the High Court faced with a winding-up order over an unpaid tax bill of £600,000.

But, with Wednesday given 28 days to secure a buyer by the High Court, the latest report on Sky Sports News is reporting that the former Portsmouth chairman will withdraw his offer if not accepted this weekend.

The report reveals a £20m buyout of the club, but neither Mandaric nor Wednesday have commented on the news.



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

Writer:Nick
Date:Friday November 19 2010
Time: 1:17PM

Comments

0
Sell, sell sell, sell, sell, sell. Come on now dave, stop being stubborn and accept. In a few weeks you could get nothing. i have a bad feeling he will dig his feet in though.
DEZZYP
19/11/2010 13:38:00
0
lets hope DA realises that this is the best he'll get, and accepts the offer this time!!
swfcjambo
19/11/2010 13:38:00
0
Well if we got any sense its a no brainer.Here is a man that says i have £20 million its yours if you want it.Now its alright saying this one is leading the race and we are in talks with four others,but have these others shown the money. If we dont take this offer all i can say is dont wine come December 01st saying people have let us down again. THIS IS A CLEAR MESSAGE TO ALL DIRECTORS,CHAIRMAN,CHIEF EXECS ETC.
garrymo
19/11/2010 13:41:00
0
sell up and stop messing this man around
retfordowl1867
19/11/2010 13:57:00
0
I want MM to be the new owner of SW, he's proved he's got the funds and has a proven track record of running football clubs successfully on and off the pitch so hopefully a deal can be done and all the other chancers with barely a pot to**** in can jog on. Of all the so called parties interested MM is by far the most credible, whilst I'm not pretending he's a Wednesday fan or has always wanted to own the club since he was a child he can stabilise the club and get it operating like a proper business, at present it's operating insolvently using HMRC money, the sands of time have virtually run out so as Elvis once sang, it's now or never!! UTO and looking forward to 3 points tomorrow. We've got M&M up front firing the goals and we now need MM in the chairmans seat!
sussexowl
19/11/2010 14:04:00
0
And Elvis also sang A little less conversation, a little more action please All this aggravation ain't satisfactioning me A little more bite and a little less bark A little less fight and a little more spark So come on and get ya heads out of ya a**** and smell the coffee b4 this gr8 club is no more,time is ticking fast and Santa Manderic is giving us the life line us fans need and deserve,think about us for a change the ones that av been paying the wages for many a year,if u bleed blue and white you will do wots best for the club.Come on dont be a Dingbat!!!!!!!!!!!!
ollyowl70
19/11/2010 15:10:00
0
i believe he is the right guy for the job he has done well at other clubs and offering 20m cant see why you would say no! for me its the best option.
Wednesdayforlife
19/11/2010 16:15:00
0
I definitely think Mandaric is one of the better names to emerge as a potential owner of the club. He has shown that he will take control and will ruthlessly do whatever it takes to make a club a success. The Portsmouth situation was clearly not down to him. We need someone who will come in stop all the nonsense, cut out all the under performers, including management, and push the club back to where it belongs and where he wants it to be. I'll be gutted if we end up with a couple of moderately well off businessman instead. Saying that beggars can't be choosers but I think Mandaric is the equivalent of our fairy godmother at the moment and I would definitely be happy to see him at the helm.
baldowl
19/11/2010 16:17:00
0
I don't post very often but as a 56 year old lifetime Wednesday supporter the son of 2 proud Wednesday parents and 4 Wednesday grandparents I feel that it's time to make my stand. Born in Crooks, raised in Walkley I spent the first 15 years of my life at Hillsborough every Saturday yes even watching the reserves and juniors with my dad. Having moved south in 1970 I'm no longer a season ticket holder but manage about 30% of the games at Hillsborough and another 12 or so when the team play down south. OK that's my credentials out of the way so let me just say this. Over the last 2 years the decline of my beloved team has been an embarassment to witness and the boardroom antics of some very selfish individuals has brought MY club to the brink of extinction. Let me say this to all involved at Hillsborough........Whilst MM is not a lifelong wednesdayite he is at least as FIT AND PROPER person to run a football club having done so with success at Portsmouth and Leicester...................IF the sale of the club to MM does not go ahead then I will never again set foot in Hillsborough or any other ground when wednesday are playing. Forgods sake and the good of Sheffield will the board PLEASE agree the sale and lets start rebuilding MY club
whitham's jockstrap
19/11/2010 16:57:00
0
I do not believe they will sell.
robc
20/11/2010 00:04:00
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