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Mandaric Completes Owls Takeover

Milan Mandaric has finally completed a deal to buy Wednesday, with an official announcement expected on Monday morning, according to reports this morning.

Reports on BBC Radio Sheffield are confirming that the Leicester City chairman, who would need to step down from his position with the Foxes before buying the Owls, has come to agreement with all parties to takeover at Hillsborough.

Mandaric had already satisfied the club's creditors, the Co-operative Bank, with his initial bid, but had fallen short with some of the club's loan note holders, including former chairman Dave Allen.

It's understood a deal with Allen, now chairman at Chesterfield, was the final one to be struck, but the two have come to an agreement and the takeover of the Owls is complete.

The club will now inform the Stock Exchange first thing on Monday morning and Mandaric is set to be unveiled as the club's new owner just hours later.

It's the news that Wednesdayites have been waiting for for years, and will mean the Owls can go to next Wednesday's High Court hearing and pay off the money owed, avoiding going into administration.

The next step will be to announce an EGM, which is a formality in takeover deals due o the support of the major shareholders.

Mandaric was one of a number of bidders looking to takeover the club but, in just a matter of weeks of showing his interest, has provided proof of funding and has swiftly moved to complete a deal.

More to come on this story, keep checking Vital Wednesday for all the latest updates.

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The Journalist

Writer: Nick Mail feedback, articles or suggestions

Date:Saturday November 27 2010

Time: 10:30AM

Your Comments (oldest first)

Change to most recent first
GET IN!!!!!!!!!!
Report Abuse
27/11/2010 10:36:00

Sounds very promising but after so many false dawns it needs to be a picture of Mandaric at Hillsborough and in charge for me before I believe it!
Report Abuse
27/11/2010 10:40:00

With you every step of the way Pob
Report Abuse
27/11/2010 11:19:00

brilliant news 5 years of hurt over new era for wednesday mandaric u will become a wednesday legend !
Report Abuse
27/11/2010 11:29:00

good news! i'm getting a new car
Hirsty's Shinpads
Report Abuse
27/11/2010 11:30:00

Spoke to Vital on FB chat earlier. They confirmed it's definitely a done deal. Just gotta wait for Stock Exchange to open up Monday morning! Happydays :) UTO
Report Abuse
27/11/2010 11:35:00

Really chuffed this morning, so many years of hurt and pain with a debt which was like a millstone. Now we can move forward together and hopefully reach the promised land in a few years time. Time to let those wasters from the Lane struggle with a big debt and a rubbish ground. Come on MM come on you owls. WTID
whitham's jockstrap
Report Abuse
27/11/2010 11:42:00

come on pob, show some optimism. Owls fans have had enough pessimism over the years. I am certainly a very happy old owl today.
Report Abuse
27/11/2010 11:45:00

Well wot can i say just anutha mad day in the lifes of us Wednesdayites.Get so use to getting good news thats followed by bad hope im wrong this time and we can go on and start running this club right.
Report Abuse
27/11/2010 11:51:00

Milan Mandric you are a legend, Wednesday shirts for all my friends and family for christmas with the words 'Milan Mandric our SAVIOUR, True Wednesday legend 2010' Wonder what it will be like being able to celebrate new players being brought into the club that we have actually spent money on.
SWFC Tubes 84
Report Abuse
27/11/2010 12:41:00

Nohing but respect for Milan. Indicated his interest a couple of weeks ago, made the offers, and tied it all up. Finally got an investor that has acted like he means business and followed it through. How things have changed so quickly! Got a decent team playing well on the pitch and now will hopefully be supported by a real business off it. Now its time to start reminding everyone where our big club tag comes from. They'll only ever be one big club in Sheffield! Up the Owls!!!
Report Abuse
27/11/2010 13:23:00

YES!!! DEBT FREE!!! I think that makes us one of the richest clubs in the country??!!!
Report Abuse
27/11/2010 13:45:00

Ive cum. And if it's confirmed Monday I'll come again
Report Abuse
27/11/2010 13:54:00

Milan Mandaric barmy army!!!!!! Get in there, I could cry right now!
Report Abuse
27/11/2010 14:08:00

Am i right in thinking we are now debt free and united owe about 18m. If so thats one hell of a turnaround in a week. Theres a piggy who comments on the star website who refers to united as the sunny solvent club from Sheffield. If all this is true he must feel a right dick now!! Brilliant news suddenly everything seems to be going right on and off the pitch.
Radon Barrier
Report Abuse
27/11/2010 14:50:00

what a relief great news lets go and win this division now and kick on .
beverley owl
Report Abuse
27/11/2010 15:21:00

Yes F*****G get in there.About bloody time as well.WATCH OUT THE BLUNTS HERE WE COME .
Report Abuse
27/11/2010 15:27:00

I know who you're talking about Radon Barrier. Some of those United fans in the star are proper d*cks. The comments they're writing now are just funny, they've got nothing to say.
s12 owl
Report Abuse
27/11/2010 15:45:00

still cant believe this has actually gone through unbelieveable! this will give massive boost to the fans players and managers, confidence will be sky high, even higher than it is now. hopefully this will boost attendances as well! lets kick on get promoted win the jpt and get back on the road to where we belong! UTO
Report Abuse
27/11/2010 15:58:00

This is great news. When this broke a couple of weeks ago there was no doubt in my mind that he was the only guy for our football club. I shared a conversation with him on the train to Leicester Wednesday just before he completed the takeover and he has such a passion for football and obvioulsy business. He potentially stands to make alot of money as well. Hats off to him. I have to say this is the best thing thats happend for many years this club has been so poorly managed and for Dave Allen to say its not his fault the club is in the mess it is now is a little irresponsible as everyone played their part in this mess. Mandaric is a breath of fresh air. On a seperate not yes we do hate Sheff Utd but at the same time I never want to see any club go through what we have so we should bear that in mind.
Report Abuse
27/11/2010 15:58:00

The feeling is one of relief mixed with apprehension, mainly due to the fact that our saviour is due in court in January on charges of tax evasion. I'm not punching the sky quite yet.
Auckland Owl
Report Abuse
27/11/2010 21:09:00

I'm absolutley delighted that all the takeover nonsense is finally settled,and for the first time in over a decade the club is moving forward on AND off the field,although i do think it is a bit premature to call MM a "true wednesday legend" just yet,at the end of the day hes a businessman looking to make a profit,but if he sells on wednesday in a couple of years and makes a profit and leaves them in a better postion then the are now(which couldnt have been much worse) both he and i will be very happy
eire owl
Report Abuse
27/11/2010 21:20:00

Thanks Milan, i'm sure your going to make us great again, did anybody hear praise and grumble tonight, did'nt listen for long but one pig and one dingle almost in tears about the takeover, jealous to death of us. Now lets go and claim our Yorkshires number one spot back, just need the world cup now and jobs a goodun, happy days are here again.
ecco owl
Report Abuse
27/11/2010 22:12:00

what great news to wake up to on a sunday morning, turns out great news is a new hangover cure. welcome milan, your name is now a massive part of sheffield wednesday history. well i dont expect us to shoot straight up to the top flight, its great that we have a future again.
Report Abuse
28/11/2010 10:25:00

where I'm utterly delighted Milan has come in to save the day, the majority of my thanks go to Howard Wilkinson and Nick Parker. It's these two guys who've worked night and day to stop our club from vanishing of the face of the earth. they've put up with an enormous amount of pressure, and dealt with a lot of **** thrown in their direction. I've shared the frustration of our fans for years and genuinely think that we've had it worse than most other clubs, if not all - but that clip on youtube really disappointed me and made me a bit embarrassed. delighted for HW and NP and delighted er can finally move forward... we may even pay money to bring a player in sometime soon can you believe it!?
Carbone's Padawan
Report Abuse
28/11/2010 10:33:00

SOMEONE MISSING mmmmmm Pigforlife your invited to the OWLS debt free party. while you lot SNORT around the 18.6million pound loss non world cup venue . UP V MANDERIC ERA OWLS
Report Abuse
28/11/2010 11:14:00

You better watch out You better not cry Better not pout I'm telling you why Milan Mandaric is coming to town He's making a list And checking it twice; Gonna find out Who's naughty and nice Milan Mandaric is coming to town He sees you when you're sleeping He knows when you're awake He knows if you've been bad or good So be good for goodness sake! O! You better watch out! You better not cry Better not pout I'm telling you why Milan Mandaric is coming to town Milan Mandaric is coming to town
Handsworth Owl
Report Abuse
28/11/2010 12:28:00

At last it's over. Fantastic!!!!! This is agreat deal for all. Make no mistake, Manderic knows exacly what he is buying - a big club and he will make money out of this. Great stuff!
Report Abuse
28/11/2010 12:38:00

get Mellor signed up on the dotted line please.
Carbone's Padawan
Report Abuse
28/11/2010 13:15:00

get mellor signed up indeed. Also i hope he gives irvine a fair crack, he's had his critics (myself massively included) but we are still a credible 4th through a pretty dark few months. so i reckon its only fair he gets a crack with this newly found positive attitude we all have.....finally, happy days ahead.
Report Abuse
28/11/2010 13:42:00

Just got back from the mountains where I have no internet, and MAN is it good to see this on my computer screen, and MAN is it good to be an Owl! WTID!!! Couldn't be happier!
Colorado Owl
Report Abuse
28/11/2010 13:53:00

Good news for you at last!
Report Abuse
28/11/2010 17:12:00

Being in the States and just having had Thanksgiving it couldn't be more apt for me to thank Mr Mandaric for his interest and commitment to Sheffield Wednesday. It has been a long dark winter for all of us Wednesdayites stretching over the years and I also thank each one of you for staying strong and being WEDNESDAY TILL I DIE! I'm looking forward to the new era and can't wait to get home and visit S6 and show my support UTO!
Report Abuse
29/11/2010 00:48:00

THANKSFOR THE INVITE LEAGUE ONE PIGGIES - (WHEN IT SUITS EH) HA HA LOL I DUNNO - I don't mean to put a dampner on things but you arn't debt free....the debt has been re-managed in order for mm to even be bothered to come in and rescue the pittyfull and shamefull club. so before your make teenage markings in your pink frilly underpants get the facts right and come back down to earth. also if the debt had been written off do you honnestly think the bank would let mm spend large amounts of money like some of you lot seem to god you really are all thick pigs aren't you??? make no wonder the board have got away with the things they have you are all clueless and only see and hear what you want to. if the coop had written off over 20 of debt what would that give on their other customers commercial and domestic? come on no one would pay a payment again especially when 99.9% of customers owes a hell of alot less. GET REALL PIGS!!! PS.... ive *****ing missed you lot i really have!!
Report Abuse
29/11/2010 10:18:00

THts 20m not 20 ha ha you piggies wish eh??
Report Abuse
29/11/2010 10:20:00

Here we go again! BFL you clearly don't know what you're talking about. The bank have accepted a settlement amount of the debt and the rest is written off - end of story. Milan is free to spend his money on what he likes and no matter how much you try and muddy the water - it's over. Why didn't Milan use his money to buy your Championship club - because they're not Sheffield Wednesday. One club has massive potential, even in League 1, and the other doesn't. Hope thing's work out for you financially down the lane and its nice to you have back!
Report Abuse
29/11/2010 11:24:00

T*rdforlife, you truely are a clueless retard. As baldowl just stated, the debt HAS gone and the bank HAS wrote if off. You didnt need to correct yourself, 20m or 20, we have none. How much did your lot lose? about 18m? big club you lot arent you. You havent been missed in the slightest, your about as welcome as a kick in the balls. feck off back under your rock you aids riddled c*ck stain.
Report Abuse
29/11/2010 11:35:00

Love that name txrdforlife had me laughing for ages!!!
Report Abuse
29/11/2010 11:55:00

dezzyp the final sentence of that attack was pure genius.
Carbone's Padawan
Report Abuse
29/11/2010 12:02:00

It feels good to be the richest club in Sheffield, I said months ago the chickens will come home to roost on Utd's financial plight when they were gloating about Wednesdays debts, lost 18m last season alone and McScab wants out, like Dolly Parton laying in bed it's all going tit5 up down at the lane. Just need England's 2018 bid to be successful and we can look forward to World Cup football at Hillsborough in a few years time as well as premirship football, the futures bright cos it's blue and white!! How crap it must be to be a Utd fan right now, relegation looming, no money, chairman wants out and your big brother who you've always been jealous of has just been rescued. We'll keep league 1 warm for you for next season!!
Report Abuse
29/11/2010 12:03:00

* Premiership!
Report Abuse
29/11/2010 12:04:00

23m written off absolutely unbelievable....maybe wise to shut the ***** up right now though because anything can happy and things wont be finalised fully until the 14th dec......wont you all look like a bigger set of tossers than you lot already are if it turns all sour!! we have many assets to back the loss unlike you lot remember that!! least we are a honnest club unlike you lot who have to strike a dodgy deal to survive. thats to people like richards at the fa and pig wilkinson with all his inside contacts you have managed to corrupt the system.....just outside the coop bank and changing my ***** am i guna make a payment ill get them to write it off by pleading povety!!!....then ill go out and buy 2 houses and rent them out....should be able to make approx 2k a month i reckon!!!...sounds too good to be true which means it normal is....muppets hold it in and stop marking your pink porky frilly pants.....IF you don't get promoted this season get ready for some worrying are league one remember pigs!! we are in the championship bringing in much more revenew with higher attendances, we have much more assets off the pitch to back us up with including a 15m hotel, a 25m acadamy, 2 clubs abroad worth in access of 50m and a ground in the city centre which is in a major location!! what do you have?? thats right a big *****ing bubble in the middle of a training pitch and a ground thats on a flood plain!!! ha ha ha our debt is easily managable but if it isn't dont worry we will go to the coop bank and get it all written off and pledge to be in the premiership in 2 years!!! YOU MUPPETS!!
Report Abuse
29/11/2010 13:57:00

IRVINE OUT IRVINE OUT!!! ha ha fickle fickle fickle!!
Report Abuse
29/11/2010 14:00:00

t*rdforlife, nobody cares you ball sack. i stopped reading half way through, 'tedioust*rdforlife' might be more appropriate. honest or honnest? go back to school with the rest of your fritzl family or continue to sit in your parents house crying about tevez.
Report Abuse
29/11/2010 15:01:00

oh, if your board come cap in had, super milan might lend you 10 to help with your 18m problem, take it your free 25m tevez money has gone?
Report Abuse
29/11/2010 15:05:00

oi oi bfl, a ground in the city centre is all very well but it's still considered too much of a dump to be a WC venue though. I wouldn't worry about Wednesday not getting promoted if I was you, you need to be concerned about your lot not getting relegated with the associated reduction in income that results, I'm sure you'll find someone to blame and sue though, thoroughly embarrassing episode for Sheff Utd and football in general. No wonder Utd are so unpopular.
Report Abuse
29/11/2010 16:28:00

you talk such b*llocks pigforlife you say on this website that your debt is easily managable and you will be in the prem in 2 years yet on your own site you say and i quote " exciting news blades are 67m in debt......all you macabe lovers hang your heads in shame.....we are doomed and will go into one will help us out like across the city.....we will rot in league 2 for years to come!!! ******** happy days!! what a joke we are...thanks macabe thanks a lot!!" so **** off back to your scummy site!
Report Abuse
29/11/2010 16:45:00

Wednesdayforlife, haha, good spot. iv seen his utter nonsense on his site also. sounds like he would actually love to support our great club.
Report Abuse
29/11/2010 17:06:00

editor editor editor are you there ban him ban him ban sad sacks!!
Report Abuse
29/11/2010 20:46:00

wednesdayforlife.......mmmm thats original!!
Report Abuse
29/11/2010 20:51:00

is that all you got to come back with pigforlife 'original' are you not going to give a long boring repetitive message? you could at least explain your massive difference in comments for us!
Report Abuse
29/11/2010 21:22:00

nice to here from the pigside of bitterness pigforlife. your club is dying on its Ar5e and you come on here slinging bitterness about it will be nice to see how the other side live for you lot.we will be like ships passing in the leagues. enjoy your new found skintness and we will enjoy our new found loadedness
Report Abuse
30/11/2010 10:01:00

you invite me back on here like a celeb obviouslly when you have something to somewhat brag about if thats what you want to do when you get dirty back handed payoffs and the tax payers so so shamefull. just like the scrubbers that are on constant handouts and benefits but manage to find the money to smoke 100 fags a day and spend all day in the boozer.....anyway at least i've got the hits back up on this site again!!!! ha ha muppets!!
Report Abuse
30/11/2010 10:16:00

right im off see you at the end of the season when you are still league dog fodder!!!....then the debt will rise again and you will be admin threatened yet again!!! cheats says it all!!
Report Abuse
30/11/2010 10:19:00

aint bitterness great
Report Abuse
30/11/2010 10:27:00

PS dont forget to pay your taxes if England get the world cup WE NEED our ground refit thanks
Report Abuse
30/11/2010 10:28:00

No income tax, no VAT No money back, no guarantee Black or white, Mandarich or Mcabe We'll pinch taxes at a stroke God bless WEDNESDAY Street Viva WEDNESDAY Street Long live WEDNESDAY Street C'est magnifique WEDNESDAY Street Magnifique WEDNESDAY Street
Report Abuse
30/11/2010 10:34:00

t*rdforlife, whats all this talk about tax payers money? we will be paying our tax bill in full, that was the whole point of the takeover, to get our bills payed. you are the most clueless person iv ever heard. put your head back in the pig 5h*t at your tonka toy stadium you rectum faced pube.
Report Abuse
30/11/2010 10:58:00


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