Fans had begun to worry that the move by the Geoff Sheard consortium may have stalled.

There has been no sign of a firm offer for shares yet, almost three weeks since the Owls confirmed interest, in a statement to the Stock Exchange.

But Sheard has confirmed to Darryl Keys, chairman of fan group Wednesdayite, that the takeover bid is on track.

Key said: "I have been reassured that things are going to plan. The lawyers are on to it, the accountants are on to it."

Wednesdayite were promised three weeks ago that an offer for their 10 per cent stake in the club was imminent.

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Sheard has told Keys that the complexity of the overall deal made this timetable a little over-optimistic but otherwise everything is going to plan.

Wednesdayite have also been contacted again by the other, unnamed consortium who are showing interest in the club.

Said Keys: "They said they were carrying on and putting things together, and obviously they are watching the Geoff Sheard situation.

"Whenever anybody shows interest in Sheffield Wed-nesday, we are being courteous to them and encouraging."

The Sheard consortium appear to be still ahead in the race, and fans are eager for progress.

It is understood that a deal could be clinched within the next month - and possibly within the next fortnight

Keys added: "I can understand everybody's frustration - I'm sure the club are frustrated as well. We feel the same way, and I am sure Geoff Sheard does, but these things can be very complex."

The Sheard group are also likely to have been in close contact with the club.

It is understood that the consortium could make offers within the next week for the shares of the Owls directors, including the 10 per cent stake held by Geoff Hulley, and for the 20 per cent shared by former directors Dave Allen and Keith Addy..

Once 30 per cent was secured, this would effectively give a buyer control of the club and, under City rules, trigger a bid for all the other shares, including Wednesdayite's stake.

Wednesdayite are set to ballot their members to change the group's rule that says shares cannot be sold.

Then the group would hold a second ballot on any definite offer.