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Owls Await Hobson Response

A consortium led by boxing promoter and Owls fan Dennis Hobson has made contact with Wednesday about possible investment in the club - and the ball is back in their court after the Owls responded.

The Jersey-based consortium, believed to include Dennis Hobson and his brother along with a number of Wednesday fans and businessmen, announced their interest in becoming involved with the club on BBC Radio Sheffield last month but news of an investment or takeover plan at S6 has remained quiet.

But it now appears the ball is currently back in Hobson's court after the club revealed they responded to the consortium's written proposals recently.

Talking on the requirements any potential investor would need to meet should they want to pursue their interest in the club further, Owls' chief executing Kaven Walker told the Sheffield Star: 'One: Is it their intention to purchase the shares held by the directors? Two: is it their intention to reduce the loans made by the directors? Three: is it their intention to reduce the debt to the bank? Four: do they have the funds to take the club forward?'

The news is at least a step forward from the last time details of the proposed bid hit the media, with Dennis Hobson revealing to the Yorkshire Post his consortium look set to hit a brick wall with their proposals.

He said: '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.

'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.'

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The Journalist

Writer: Nick Mail feedback, articles or suggestions

Date:Friday September 15 2006

Time: 2:16PM

 

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