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£20m cost of taking over at Hillsborough
WEDNESDAY'S takeover plan would bring a £20 million injection from new investors in return for them taking a controlling chunk of the club.
More details are beginning to emerge about the proposals that have attracted serious interest in America.
The deal would be comparable to the one that almost came to fruition involving a different set of investors in March.
Almost all of the initial 20m would be spent on improving the club rather than wiping away debts and would be followed by a further 20m to improve the squad if the Owls won promotion.
Wednesday plan to issue a batch of new shares which would be taken up by the investors so they gain control in exchange for the initial 20m. It is believed that they would take an 80-per-cent-plus stake in Hillsborough.
Chairman Lee Strafford regards the US venture as the club's best chance of a deal but also thinks that the club have a chance of promotion under their current business plan, which would just be accelerated by investment. He would like a deal done by Christmas.
It can also be revealed that there is interest in the Owls in two Middle East countries - and the link to them is via London. The March deal involved potential Indian money - but this source dropped out. There was also interest from America but this has now mushroomed, leading to the appointment by the club of US merchant bank Inner Circle Sports as advisers who are trying to complete a deal.
Officials from Inner Circle return to America today after a brief mission to Hillsborough to set up a "data room".
The interested parties in the States are already active in sport franchises.
Owls boss Brian Laws has denied reports he wants Carlisle's Danny Graham, while ex-Owls defender Peter Shirtliff has left Tranmere to coach at Swindon.
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