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Softly softly Sheard says Owls takeover on course



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Published Date: 25 July 2008
GEOFF Sheard today played down reports his takeover of financially-crippled Sheffield Wednesday has moved closer to completion...yet insists it remains firmly on track.
Sheard met Owls director Geoff Hulley and former director Keith Addy in a Sheffield hotel on Thursday and one report this morning claimed they both agreed to sell 10 per cent stakes in the club to the Lancashire businessman.

But Sheard - whose consortium needs a 30 per cent stake in the Championship club to effectively take control at Hillsborough - said: "I don't know where that information has come from and it's certainly premature to say that.

"However, we did have a meeting which went well and I'm confident that everything is progressing well."

Former chairman Dave Allen has already agreed to sell his 10 per cent and fans group Wednesdayite are currently balloting members over the sale of their 10 per cent stake.

What do you think? Post your comments below.

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The full article contains 216 words and appears in n/a newspaper.
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  • Last Updated: 25 July 2008 11:20 AM
  • Source: n/a
  • Location: Sheffield
 
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Somniumvisum,

25/07/2008 11:45:58
Is it just me, or could this not have been so much easier? Could a representative of each 10% holding party have not just met with this guy, been shown proof of what he has to offer, report back and make a decision? I know businesses are run at a level well above my head, but seriously, one guy wants to buy, others want to sell at a good price, whats the issue if the price has been agreed? It seems to be getting held up on proof that this guy can offer money, surely the selling of the shares is a contract that reads i give you my shares and you give me X amount of cash? and without the cash this cant be processed? right?
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Barnmeg1,

25/07/2008 11:50:56
i just hope this takeover really happens, be the best thing to happen to sheffield wednesday fc, but i fear it wont happen. i do think that wednesdaite group will not sell, i hope they do. if not i think we may lose 1 of the best managers we have had, i also think our back 5 will go b4 the start of next season, which wud be a real shame, cos that back 5 is best in the league, were not far off been a good side. if it does happen i think u wud see such a change in our fortunes. If it does happen have a fiver on wednesday to reach the play offs, have a fiver anyway, cos were not far off been in the top six
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leeowls1,

25/07/2008 12:27:24
i agree barnmeg1 our team at full strength has potential to reach the playoffs a fiver is well recommended as for the takeover yet again i feel we dont seem to be making progress im hearing the ballot from wednedsayite wont go through till after thursday 31st of july this has dragged on i just hope it reaches its final stages soon with sheard taking over under a new regime we can start to press on with his financial backing.
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The Wednesday International Jetset,

Oslo, Norway 25/07/2008 12:54:50
Somniumvisum - it is a bit more complicated than that as there is legal due diligence processes to follow, and there are sometimes complicated payment plans to agree(I dont know what the case is here though). You are right though, this seems to be dragging on. Far bigger commercial take-over discussions (eg. Microsoft-Yahoo) have come and gone and we're still farting about. There may be some agenda to this delay, or it could simply be groups taking time to get their act together. Whatever the outcome, there needs to be an answer to the 40 million pound problem (as Sheard calls it), the cost of getting this club back on track, paying off banks etc, otherwise I cant see an end to the nail biting relegation battles of the last couple of seasons.
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we'll be back,

25/07/2008 14:11:46
I'm not commenting anymore cos The Star editor took my non offensive comments off yesterday!
Free speech..... Hah!
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Boltonowl,

25/07/2008 14:34:50
I would love for there to be no secrecy at Wednesday, Throughout this take over, Addy has said nothing, Cooke said there was no takeover and Hulley has said "Geoff Sheard, Never heard of him and wouldn't know him if he smacked me in the face!!!"
The only person saying anything to be fair to him was DA.
Why can't Wednesday directors and if needs be, that muppet Darryl keys get together and just release a joint statement saying, (without giving too much away) what stage they are at.

Just seems too easy to me, they would rather keep fans on tenter hooks
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penrhyn bay owl ,

penrhyn bay 25/07/2008 14:53:51
yawn yawn yawn ....
this story is longer than tolstoys war and peace !
most fan's have lost interest and are more interested in whats currently taking place on the footy pitch where it really matters .
things here are clearly on the up ( as predicted ) laws , left alone to get on with the job is working miracles and is in the throws of creating a genuinely exciting and youthful teams crammed with potential and i firmly believe a top 6 place is on the cards .
lets leave the takeover to the powers that be and the money people of this world ( wednesdayite and chancellor keys excluded )
COME ON THE WEDNESDAY
incidentally is anybody out there interested in a share in one of those executive boxes currently being touted on the owls website for the game against wigan next saturday ?
i did ask my mate who's a wednesdayite member but he said was taking advice on my offer and would get back to me a year next thursday ...
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Jamesowl,

Sheffield 25/07/2008 15:16:48
Boltonowl, Darryl Keys is definitely not a muppet and has been having friendly and sensible discussions with Geoff Sheard re the prospective take-over. The Wednesdayite members are currently being sent ballot papers and literature urging the members to vote to sell the shares. I believe the hold-up (I may be wrong) has been caused by two existing directors who have not yet agreed to sell their shares.
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Ex-Chapeltown Lad,

Congleton 25/07/2008 16:44:09
Penrnyn bay owl agree, yawn yawn yawn and more yawn! - Nuff been said lets get back ,to the actual footie, can't come soon enough. incidently went into the ground today - pitch looks superb Congrats to head groundsman and staff. Best it's looked in many years - P.S.- - Look for the novel way that the players pull-out tunnel has been re-vamped by it's sponsor! It's Certainly different!!!
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owl down under,

25/07/2008 17:15:39
6 defeats to start the season plus the injury toll did nothing to help WEDS cause last year. Yes they can be a serious contender this year with or without this blasted take-over.

To those frails across town who insist on invading our space, yes we are a sleeping giant and a massive club like it or not. There is a huge fan base for WEDS around the world particularly here in Australia.

Anyone who can see past the 26M plus the most obtuse board on earth and still wants the club knows the potential of such an investment. Asking to "see the money" is an insult. No cash, no take over--simple

In the words of the great D.A. Get On With It!!!! (I cant believe I said that)

Now I can go back to bed with War and Peace as recommended for insomnia by Penrhyn Bay Owl!!--also try "THE COMPLETE MANUAL FOR WINDOWS 98" and your asleep in 2 pages.

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