Wednesday are moving towards making an egm announcement around March 10th, the Telegraph understands.

That would allow three weeks for the club to pull together the buy-out package and present it to shareholders as a done deal that only needs their approval, which would be on or around March 31st.

The original intention of new chairman Lee Strafford and chief executive Nick Parker, following their mid-season appointments, was to call two egms with the first of those to be held in January.

However, the strategy has been streamlined because of potential hold-up issues that could have been raised by a public debate among shareholders.

The political complexity surrounding the club's ownership has been a bar to progress for decades and Strafford clearly believes the best way to avoid further strife is to table a firm proposal.

Negotiations with loan-note holders and key individual shareholders have been kept deliberately low-key to avoid distraction from the ultimate goal of bringing significant new investment to Hillsborough.

However, insiders say progress is being made - even though share value will be much diluted by a deal that will see investors from the United States, Britain and the Far East take a major stake in the club under the terms of a planned shares issue.

Strafford's ace card is that the Co-operative bank - owed most of Wednesday's £26m liability - have agreed on the debt being reduced to an unspecified figure.

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This has fired up the club's would-be backers who are said to be eager to move in, as planned, on March 31st.

Board sources maintain that the takeover has effectively already happened in that the syndicate is in place. The only fear is that a delay beyond the deadline could see them lose interest and shop elsewhere in a football market bulging with clubs for sale.

That target date is accepted as personal pressure by Strafford and Parker, having put their heads above the parapet to deliver a takeover.

However, it has become clear that the deadline was primarily set as a spur to all the parties involved and, after taking the chair, Strafford is in it for the long haul whatever the immediate outcome.

The new board are already working on an increased wage budget for the next season regardless of a cash injection. There are plans to lift the current wage bill - under £5m - to around £6.5m.

Club sources say this can be funded by improved attendances and other revenue.

There is already a 15,000 target for season tickets next season.

And higher funding is anticipated from the Football League under a new television deal with the BBC, who will have screening rights for the Championship from next season.

Meanwhile, the needs of manager Brian Laws were again laid bare by last Saturday's game with Crystal Palace in which a 2-0 win glossed over a generally poor performance - with the exception of an overworked and understrength back line that will welcome back skipper Richard Wood at Burnley tomorrow.

Late goals finally rewarded the 18,000 or so paying fans. It could be said that only the 4,000 who watched it for free got their money's worth!

But, as Laws said, the result was paramount - and ticket giveaways are commendable as Wednesday help show a lead that the rest of football must follow in these cash-conscious times.

The Palace game was not entirely without entertainment. What about Jermaine Johnson's cavalier contribution to that sublime second goal from Leon Clarke?

Professionalism - and maybe even commonsense - seemed to dictate that he should shepherd the ball to the corner flag rather than cross to the near post.

On this occasion, everyone's glad he didn't!



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