But the Owls are refusing to confirm claims that they are about to be bought by a mystery consortium led by a Lancashire businessman, Geoff Sheard.

It has been claimed that a deal worth £50 million is close, and that the money would come via a bank in the Bahamas from sources unknown, though speculation also touches on a group of Asian businessmen based in Britain, and even sources in Italy and Russia!

Wednesday Shareholders Association chairman David Coupe said: "I believe this is the real deal. If things develop as we believe they will, we can look forward to better times than we have had for 15 years."

Fan group Wednesdayite hope to receive an offer for their 10 per cent stake in the club soon. "We have been talking informally to this guy for a couple of weeks," said vice-chairman John Gath.

"We have not had any formal confirmation on what's happening but we expect that in the next couple of days.

"We are as excited as anybody and looking forward to what they have to say. If the rumours are true, it should be a good thing."

But the Owls are sticking by their policy of confidentiality.

Finance director Bob Grierson said: "All I can say is what we have said before, that we are talking to potential investors.

"I can't comment on rumours. We are a PLC. We can only make statements when there is something to tell the shareholders. It's up to them (any would-be investors) to make their proposals.

"We have talked to lots of people. Lots of people have come and lots have gone."

Chief executive Kaven Walker commented: "Once we have got something concrete, we'll go public; at the moment we are not in a position to do so."

Former chairman Dave Allen has confirmed that he would be willing to sell his 10 per cent stake.

"In principle I would accept an offer to sell my shares on condition that Wednesdayite sell all theirs," he said.

"Then hopefully the club can go forward with new investment from new owners and the genuine fans can start to enjoy the football."

Supporters Club secretary
Rita Nettleship said: "It sounds like positive news. I hope it will be signed, sealed and delivered."

The Owls moved out of the Championship's bottom three with a 1-0 win against Cardiff on Saturday.