June 24, 2009

Two US sports franchises are competing to invest in Sheffield Wednesday, Owls chief executive Nick Parker has told the Star.

The competitors have said one does not want to invest in the club if the other lot is investing.

Parker told the Star that potential investors in the club include "institutions that invest in sports or wealthy individuals who have in the past got together to buy US sporting franchises and are interested in buying English ones".

He said he did not want to put a timescale on the takeover but stated:

"The next window to buy players is January. If you were an investor and part of your investment was to put an extra million in (manager) Brian Laws' kitty, you'd want to do it before then"

More: We put Sheffield Wednesday boss Nick Parker in the question hot seat
June 23, 2009

THE £20 million sale of a controlling interest in Sheffield Wednesday could lead to an "auction" among competing American investors who could then cash in on their asset by selling the club in as little as five years, The Star writes today.

More: Start the bidding for Sheffield Wednesday

June 3, 2009:

WEDNESDAY'S takeover plan would bring a £20 million injection from new investors in return for them taking a controlling chunk of the club.
READ MORE: £20m cost of taking over at Hillsborough


June 2, 2009:

SHEFFIELD Wednesday chairman Lee Strafford said today that the club had landed a "huge" coup by the appointment of New York bank Inner Circle Sports as advisers on the Owls' bid to seal a US investment deal.
More:Strafford: 'If this doesn't deliver, Wednesday will never get major investment'


29 May 2009

WEDNESDAY have moved to ease any fears among fans that the Dave Allen saga could affect the club's fortunes.
More: In the clear

28 May 2009

Former Owls' chairman Dave Allen is to inject £6m – £2m more than previously envisaged – into League Two club Chesterfield, the Yorkshire Post writes today.

The deal has received Football League approval which allows Allen to maintain his financial interests, including loans, in Wednesday.

Allen has confirmed he has received the go-ahead to complete his takeover at Chesterfield.

He also warned Wednesday would be facing "D-Day" on repayment of his and other loans in the club next May.

He said: "My loans still stand in Sheffield Wednesday and I'm waiting for them to be repaid. I'm continually reading about extra money for players and it concerns me that they don't appear to be addressing the debt. Sometime judgement day is going to come.

"All the loan note holders are due for repayment next May – that's D-Day and the matter will have to be addressed then."

More: Owls agree pay-off and Allen cleared for Chesterfield takeover (Yorkshire Post)

14 May 2009

The club's business plan sets out the aim of becoming "more attractive to investors" by making the team "more competitive" and the club "demonstrating its fanbase through season ticket sales."

Wednesday say the club is "as secure as it can be" through a strong relationship with the Co-op bank and the work of longer-serving directors - and that there is confidence of finding investment as a "catalyst" for accelerated progress.

13 May 2009
effield Wednesday today made it clear that no Roman Abramovich-style figure would wipe out their £26 million debts.

While the timing of any investment windfall seems as difficult to determine as ever it was, Wednesday insist "parties from three continents" remain interested in a deal.

The club is looking for a "hands-off" investor" who would want the club run by a "good local management."

More: No Abramovich figure coming to Owls' rescue

06 May 2009
Lee Strafford has been in San Francisco talking to possible suitors who may want to invest at Hillsborough.

He told BBC Radio Sheffield: "We've been meeting people, but are a long way off finalising anything at this point."

More: Wednesday seek investment in US (BBC)

27 April 2009

Former Owls Howard Wilkinson says a proposed £30million investment in Sheffield Wednesday has collapsed, The Mirror writes today.

Wliko the investors pulled out because Football Leage rules would not allow them investing anywhere else.

More: £30million Sheffield Wednesday investment deal has collapsed (Mirror.co.uk)

10 April 2009

The takeover saga has been pushed to one side, writes Alan Biggs. He continues:
In truth, the investment issue has become more a case of "if" than "when." It was said to be in place earlier in the year; not yet apparently.

More: Tudgay happy to back Laws' recruitment drive

01 April 2009

Former Owls chairman Dave Allen is set to inject around £4m into Chesterfield Football Club, the Yorkshire Post writes today.

To comply with Football League rules on holding financial interests in two clubs at the same time, Allen has transferred around 275,000 of his five million shares in Sheffield Wednesday to former director at Hillsborough, Ashley Carson. The transfer takes his overall shareholding down to around 9.9 per cent of the total – the cut off figure according to League rules.

More: Allen poised to join Spireites (Yorkshire Post)

13 March 2009

Chairman Lee Strafford and chief executive Nick Parker intend to make a fresh approach to the Co-operative bank - owed £21m of a £25m debt - once they have formulated a revised strategy.

In a comment about the takeover Sheffield Telegraph sports reporter Alan Biggs writes: "The reality is that it (the takeover) will take more weeks and quite possibly months."

More: Owls buy-out plan hits new cash barrier
COMMENT: Long-suffering fans must keep faith

11 March 2009

Chairman Lee Strafford is confident that Wednesday can deliver a long-term investment deal, though the club have had to drop their target deadline of March 31.

Strafford said: "We may not have been able to reach agreement within our deadline but we are confident that the right investment will arrive in due course."

More: Chairman remains confident of investment (The Star)

10 March 2009 at 2pm

Wednesday has dropped their target deadline of March 31 for an investment deal to be completed.

An official statement released by the Owls made no direct mention of former chairman Dave Allen but said that not all parties involved are
currently prepared to accept compromises necessary for a deal with potential investors to go through within the hoped-for time scale.

Wednesday also say that the club remain in discussions with "credible potential investors.

More: Owls drop investment deadline

10 March 2009 at 8am

Dave Allen has told the Yorkshire Post he will only accept a full repayment of his loans in the club. He told the paper:

"There is no way they have done a deal with me. As far as I'm concerned there is no deal being done. They are wanting everybody to take a hit on the loans. As far as I'm concerned it's a debt that has got to be honoured in full."

More: Former chairman Allen wants full value of Sheffield Wednesday loans (Yorkshire Post)

09 March 2009

Former Sheffield Wednesday chairman Dave Allen has told the BBC he believes the proposed takeover of the club will not happen. He questioned whether major funding for Hillsborough has been
secured.

Allen also has said he wants full repayment of the £2m-plus owed to him by the club and that he has been asked to take a cut of around a third.

A club spokesman declined to comment on Allen's viewpoint but added: "The board are focussing on delivering the new investment that can give the club a brighter future and will update all shareholders and stakeholders when the time is right."

More: Owls 'no comment' on Dave Allen broadside

Owls takeover is unlikely - Allen (BBC)

06 March 2009
Strafford is continuing to explore trans-Atlantic links as a further clue that the buy-out could be heavily funded by investment from the United States. The Hillsborough chief, who has probed a potential partnership with a Major League Soccer outfit on trips to America, remains confident about bringing his plans to fruition.

More: Strafford's message to fans in Owls takeover countdown

02 March 2009

Sheffield Wednesday shareholders will be asked to OK a £50million buy-out by a syndicate from the USA, Britain and the Far East. It is belived the club will be in new hands by the end of the month.

More: Wednesday £50million buyout (external link)

27 February 2009

Sheffield Wednesday are planning to call an extraordinary general meeting inside the next fortnight in a bid to meet the March 31st takeover target.

More: Takeover on target

13 February 2009

WEDNESDAY this afternoon annouced a major new step in their bid to bring investment into Hillsborough. A deal has been agreed with the Co-op bank over money they are owed, and talks with other major creditors and certain key shareholders are at an advanced stage.

More: Owls announce bank deal

10 February 2009

SHEFFIELD Wednesday have turned their backs on a lucrative shirt sponsorship deal - choosing instead to promote the city's Children's Hospital charity for free.

More: Sheffield Wednesday's hospital shirt deal

23 January 2009

With a new chairman and new chief executive in place things are looking brighter at Hillsborough.

In a comment Alan Biggs writes: "Whatever the financial complexities to come - no Hillsborough takeover could ever be straightforward - Strafford is rapidly emerging as the right man at the right time."

More: When a 'little' means such a lot

16 January 2009

Chairman Lee Strafford claims to be on track to secure new investment for Wednesday.

More: Owls' chief 'on track' to secure new investment

09 Janaury 2009

Howard Wilkinson has been recruited by new Sheffield Wednesday chairman Lee Strafford to help spearhead the club's drive for fresh funding.

Investors from around the world, identified but as yet unnamed beyond known links with America and Asia, are set to be invited to buy up newly created shares.

More: Wilkinson's back

07 January 2009

New Wednesday chiefs Lee Strafford and Nick Parker could bring around £50m into the club over the next three to five years. It is understood that rather than the club being sold in a complete takeover, the board will pursue a large issue of new shares, which would be bought by the potential investors as a way of gaining control, and with the money going directly into the club.

More: New Owls supremos chase £50 million investment


02 January 2009

Two fresh directors are fronting a global takeover enterprise on behalf of Wednesday, shirt sponsor Lee Strafford and financial expert Nick Parker.

Four individuals or groups spanning three continents have been enlisted as potential investors for a Hillsborough buy-out due to be completed by March 31.

More: Change of regime in the air at Owls after Walker goes



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