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Owls Shareholders Agree To Sell

Owls Shareholders Agree To Sell

Fans' groups Wednesdayite and the Shareholders Association have agreed to sell their 25 per cent holding in the club to pave the way for fresh investment.

Owls chairman Dave Allen was keen to acquire at least 51 per cent to enable the club to attract new investment, and the agreement by the two supporters' groups will now enable prospective buyers to acquire 55 per cent.

Both groups balloted their members regarding the sale of their shares after Wednesdayite vice chairman John Gath held talks with Owls chief executive Kaven Walker at the end of last week.

And the news could well mean the club will seek investment sooner rather than later, with former Everton director Paul Gregg likely to renew his interest in the club after talks between the parties broke down earlier this season.

'We still believe the issue of needing a 51 per cent stake has always been a red herring but, if it isn't, we have now cleared the way,' said Shareholders Association chairman David Coupe.

'We have done the board's job and written to every shareholder and asked them if they wanted to sell.

'We have found enough people prepared to sell up if it helps the club go forward and we will be delivering signed slips registering that intention to the club shortly.

'If there is someone out there who wants to buy a football club, there should no longer be an obstacle when it comes to Sheffield Wednesday.

The Owls board currently control a 30 per cent stake at Hillsborough but have insisted that potential buyers have been scared off because they're unable to acquire at least 51 per cent.

And the decision to sell will now enable investors to purchase 55 per cent of the club, something which could spark fresh interest in the club.



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Writer:Nick
Date:Tuesday October 2 2007
Time: 9:15AM

Comments

0
About time!. We're moving in the right direction in the league, lets see some movement in the right direction off the pitch!
swfcjambo
02/10/2007 09:43:00
0
Definately. Off the pitch is where it matters most at the moment no matter what anyone says. Once we sort that out the rest will follow.
wednesdaytilidie
02/10/2007 09:45:00
0
About *****ing time!!!
will it ever happen
02/10/2007 10:10:00
0
It's good news. They've seen sense at last!!
BluesyOwl
02/10/2007 10:19:00
0
good news, funny how they still felt they had to take a swipe at DA, even though by doing this they agreed it was their fault in a round about way. atleast we've got a conclusion to it now
wednesday4europe
02/10/2007 10:38:00
0
im not counting any chickens!!!!!!!!!!!!!!!!!!!!
mansfieldowl
02/10/2007 11:05:00
0
Let's see if DA finds some other excuse now, I get the feeling he wanted to buy up shares as cheap as possible for himself so he makes maximum profit personally when he sells the club, of course just speculation, could be wrong, only DA knows for sure :)
Placebo
02/10/2007 14:25:00
0
thank f**K for tht bout time they moved on now things r lookin brighter at wednesday lets win watford to top it off
boothe
02/10/2007 17:51:00
0
Win at Watford boothe? Tell you what, if we win I'll buy you a pint! Excellent news regarding the share issue. Hopefully this'll mean we can attract an investor with the "magic " 51%....
NicNac
02/10/2007 18:44:00
0
just heard only just back of my hols. but hopefully now we can move on
mick66owl
10/10/2007 21:52:00
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