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Allen Plans Fresh Investment

Allen Plans Fresh Investment

Wednesday chairman Dave Allen has revealed he's looking at a fresh investment plan for the club - with a second Chinese connection looking to buy an English club.

The Owls are desperate for some investment, and Allen has revealed that he has a second Chinese connection who is looking to buy another English club.

And rather than waiting for potential investors to come knocking on the Hillsborough door, Allen insists that he is actively looking for people to invest in the club.

'I'm looking at another Chinese connection through my business contacts,' Allen told the Sheffield Telegraph.

'I've had a brief conversation with the individual concerned. He's looking at another club in this country...whether he'd be interested in Sheffield Wednesday remains to be seen.'

Carson Yeung was the other Chinese businessman who was linked with investment in the club earlier this year - Allen pointed towards any investor not being able to get 51 per cent of the club as a reason for the lack of interest.

But Yeung went on to invest in Birmingham City - where he didn't get 51 per cent, leading to questions over the sale of the club.

And despite the recent announcement by the Shareholders Assocation (SA) and Wednesdayite that the fans' group would add their 10 per cent shareholding to the SA register to be available for sale to the right investor, the Owls chairman still insists that the availability of 51 per cent is vital.

He continued: 'I've spoken to various parties and in two cases they need 51% to go ahead. One has made a specific stipulation to that effect and I expect the other to be the same.

'It's the same story. The spread of the shareholding might have been a good thing many years ago but it doesn't fit today's bill. There are a lot of clubs trying to sell - we are one of many.'

And Allen insists he is still looking for an investor with 'mega bucks' to take the Owls forward.

He continued: 'But we are actively on the look-out. We're seeking a guy with mega bucks. That is the only way forward.'

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Writer:Nick
Date:Friday October 26 2007
Time: 12:26PM

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Comments

0
The share issue ISNT an issue anymore so this cannot be used as an excuse. Get it sorted and get it sorted NOW.
Skeggy Owl
26/10/2007 12:30:00
0
This is getting boring now !
whites11
26/10/2007 12:50:00
0
i will beleive it when i see it!! why must he always make anouncements like this, surely if he was profesional and it wasnt all bull***** he would keep it quite and between the parties concerned. we will never get rid of him as no one is gonna want to talk to him!
mansfieldowl
26/10/2007 14:55:00
0
Not getting my hopes up in anyway, heard it all before!!!
will it ever happen
26/10/2007 15:25:00
0
ZZZZZZZZZZZZZZZZZZZzzzzzzzzzzzzzzzzzzzzzzzzzzz never happenZZZZZZZZZZZZZZZzzzzzzzzzzzzzzzzzzz tryin to keep fans of is bak . same old same old zzzzzzzzzzzzzzzzzzzzzzz
mick66owl
26/10/2007 15:46:00
0
thats the trouble mansfield he carnt talk to anybody bcos its his bat n ball he will take it home with him if you wont do it is way.
mick66owl
26/10/2007 15:49:00
0
WHENS he called press conference for to tell the world its the fans fault again BORING BORING
mick66owl
26/10/2007 15:50:00
0
let me know when it happens, in the meantime Allen S.T.F.U and get on with it
astonsS26OWL
26/10/2007 19:29:00
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