WEDNESDAY and their fans are still waiting for Geoff Sheard to make his move - more than a week after he said he hoped to clinch a takeover within days.
Sheard accepts that the ball is in his court but denies that there is a hitch and is expressing confidence that he can still close a deal soon.
He told The Star: "I'm now wary of expressing time scales. I've never bought a club before; things that seemed straightforward aren't straightforward."
It is understood that major shareholders Keith Addy and Geoff Hulley have yet to see the legal proof of funds that was a condition of them selling their shares to Sheard, after a deal with Dave Allen had already been lined up.
What do you think? Post your comments below.Fan group Wednesdayite also attached legal verification of funding as one of four conditions in the members' ballot that approved the sale of their shares.
But Sheard, who said last month that he hoped to be chairman, claims that the funding issue is not a problem and is understood to have been pleased with the co-operation from the major shareholders.
His tactic has been to approach individual shareholders rather than make an offer for the whole PLC and he is trying to obtain a 29.9 per stake, which would give him effective control and clear the way to a place on the board.
It is understood that the club are not aware of any talks between Sheard and the Owls' bank. Reduction or clearance of the club's debt to the bank is a prime requirement of any takeover.
A claim that Bob Grierson has been promised a phone call from the mystery main investor has been confirmed by the Owls finance director but he told The Star that he had not yet received one.
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Sports columnists. All sport categoriesThe full article contains 327 words and appears in Sheffield Star newspaper.
