Sheffield Wednesday: Decision on takeover ‘early next week’

Milan Mandaric
Milan Mandaric

A definitive outcome to the Sheffield Wednesday takeover saga is expected early next week, the Star understands.

Azerbaijani businessman Hafiz Mammadov has been heavily linked with buying the club from current owner Milan Mandaric, though there has been no official confirmation from either party.

Owls chairman Mandaric yesterday again declined to comment on the issue.

It is understood however that negotions between the two parties will come to a head early next week with confirmation to be announced regardless of the outcome.

Reports from France, where Mammadov owns Ligue 1 newcomers RC Lens, suggested the 49-year-old had traveled to England yesterday to finalise the deal.

The Star understands contradictory reports that Mandaric had left the country to continue negotiations are wide of the mark.

It is understood Mammadov has been in discussions with Mandaric for several months.

Reports in France earlier this week suggested a deal in the region of € 50 million has been struck up between the two parties with the fine details set to be thrashed out between legal representatives over the weekend.

Mammadov yesterday pledged to inject a further € 15 million into the budget of RC Lens.

This new injection will boost the club’s wage bill to around £10.5 million as they look to establish themselves in the top flight following promotion from Ligue 2.

There had been speculation in France that Mammadov was looking to cut ties with Lens as he pursued other opportunities but his new investment was seen as renewed commitment to the club.