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Gregg In Talks With Owls

Millionnaire Paul Gregg is the man currently in discussions with Wednesday over a possible takeover of the club, it emerged today.

Gregg, who makes his money through his leisure businesses and was also on the board at Everton recently, has been linked with a move of the Owls since current chairman Dave Allen revealed four parties were interested in investing earlier this year.

Allen revealed that he was hopeful investment of a takeover would be complete before the start of the 2007-08 campaign, with a number of names linked with the Hillsborough club.

And he told The Sheffield Star: 'We have been talking to Paul Gregg since January.

'He is well satisfied with the accounts and knows that the business is in good order. But I can't make him do the deal.'

'It is my firm belief that until 51 per cent of the shares can be got together - which guarantees control - then it's going to be very difficult to make sensible progress.'

But the Owls supremo again brought up the 'stumbling block' of supporters' group Wednesdayite's current shareholding in the club which he says could scupper any potential deal.

'I was hoping that we can get a big investor who will put a lot of money into the club. Paul Gregg is concerned (about the fragmentation of the shares]. That's why I have been trying to get those Wednesdayite shares back.' he added.

Allen also confirmed that he had not been in discussions with Ireland's richest man, Sean Quinn, and also confirmed that the other mystery bidder was Carson Yeung, who is currently in a takeover deal at Birmingham City.




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The Journalist

Writer: Nick Mail feedback, articles or suggestions

Date:Thursday July 12 2007

Time: 10:21AM

Your Comments

Is this a full takeover, or just an injection of cash?
swfcjambo
You've been trying to get those Wednesdayite shares back so you can sell them to Gregg for much more money than the 500k you say you'll give for them. 10% of the club is worth 500k? I don't think so.
Auckland Owl
I said 4 months ago that Carson Yeung was the "Chinese businessman" looking at a takeover. And in answer to your question swfcjambo, if "51%" is being talked about then it is a takeover.
Smurf
surly gregg could just buy the shares from wednesdayite,this wouldnt involve allen ,allen says hes been trying to get the shares back for a takeover,but hes only been talking to gregg since january,hes wonted the shares alot longer than that ,he talks crap,he just wonts to make a profit from them
donnyowl
If Wednesdayite have 10% of the shares, then that means there are another 90% out there. So what exactly is the problem Mr Allen?
Smurf
Wednesdayite need to sell their 10%. If they want the club to go forward, it has to be done. Having a "Comunity Club" doe not creat money, look at what happened at Rotherham and Chesterfield, when Fans tried to run the club, they are not multi million pound clubs now are they ? No, they are worse off than ever. I am sorry to upset all the socialists out ther, but if you want the Premiership, wednesdayite need to seel to the highest bidder for all our sakes
haxeyowl
You're right Hax, but they don't have to sell them to Allen, there's no need for him to be some kind of meddling middle man in this. They can sell directly to Gregg, if they think he's the man to take us forward.
Auckland Owl
 

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