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Consortium To Hit Brick Wall?

Consortium To Hit Brick Wall?

Dennis Hobson and his jersey-based consortium's interest in investing in Wednesday is set to hit a brick wall from the current Owls board accoring to reports today.

The boxing promoter, responsible for Ricky Hatton and Clinton Woods, has expressed his desire to invest in the club he loves, but fears there could be a repeat of the Ken Bates scenario when the former Chelsea chairman was refused permission to look at the current financial situation at S6.

Hobson told the Yorkshire Post today: 'We have tried to make an approach and said we want to sit down and meet them. But they just sent us a letter asking where our information had come from that the club needed help.'

He continued: "But to move forward we need to see the state of the club. It is okay someone saying 'well, how much are you thinking of putting in?' but we need to know what the true situation is so we can put a rescue package together.

"In any business, you have to do due diligence before you can say what you are offering. Once we have looked at the club's finances, then we can turn round and say 'we have x amount of money, do you want a deal?'. We are more than willing to sign a confidentiality agreement. But they have not given us any encouragement at all and we need that if it is to be moved forward."

And Hobson fears the club may knock his help back for a second time after offering to invest following the departure of Terry Yorath.

'It is not the first time I have tried to help out. I went down there the day Terry Yorath was sacked and offered to put in £500,000 for new players but was knocked back. They just did not want to know.'

Hobson insists his consortium will be good news for Owls fans after accusing the current Owls board of letting the club go "stale" over the years.

"All four of us are Wednesdayites. Between us, we have put together a lot of successful business deals and we have substantial amounts of money to put a package together for Sheffield Wednesday. There are also a couple of people in and around Sheffield who are interested in getting involved. We all want to make Wednesday great again."

Current Owls chairman Dave Allen has come under some strong critisicm from Owls fans with a recent poll on Vital Sheffield Wednesday calling for the man at the top to step aside for some fresh investment to take the club forward.

And Hobson will be hoping he can be the man to do that - but first needs to look at the books, a feat that even the mighty Ken Bates couldn't achieve. Good luck Dennis...

To have YOUR say on Dennis Hobson, Dave Allen and the current takeover bid, enter the official Vital Sheffield Wednesday forums by CLICKING HERE

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Writer:Nick
Date:Thursday September 7 2006
Time: 9:18AM

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Comments

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ALLEN OUT
spirtySWFC
07/09/2006 13:04:00
0
lets start singing allen OUT then on tuesday against stoke.
owlmad
07/09/2006 19:48:00
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