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Owls close to £20m deal
WEDNESDAY are confident of clinching an investment deal within the next few weeks and providing a new manager with money to spend in January.
Lawyers on both sides are working on sewing up a deal between the Owls and a mystery group who are ready to pay 20m to take control of the club. I understand two rival organisations are also in a position to do business.
The club expect to seal and announce a takeover before they appoint a successor to Brian Laws.
It is also understood that the investors will have no say in the managerial appointment.
They will be buying into the club's business plan and are willing to let chairman Lee Strafford, chief executive Nick Parker and technical adviser Howard Wilkinson keep their hands-on roles.
The Owls will, however, keep the investors fully informed about the managerial search.
A new boss will not get the bulk of a 20m influx to spend, and it would take time for the technicalities of a takeover to be completed, but it is believed that firm agreement soon in principle would allow the club the scope do some business in the January transfer window.
The organisation leading the way is understood to comprise individuals from different countries who have paid visits to Hillsborough, most recently at the last home game against Reading on December 5.
American specialist bank Inner Circle Sports have been working for the club in trying to land investors.
McAuley will remain in charge at least until after Christmas. Although the 37-year-old Academy manager's chances of keeping the job are not being discounted, he is currently seen mainly as having a key role in the development of young talent and as someone who could be a manager of the future.
It would be ironic for Laws if new money arrived soon, after his struggles with a small budget, but it is thought the club felt, reluctantly, they had no alternative but to part company with him now, in view of results, and an indication from him that he could not reverse the team's decline.
A managerial change could also have the side-effect of pre-empting any worries from investors about team management.
Wednesday are not restricting their search to managers who are currently out of work. They are seeking a boss with a modern philosophy and are thought to be pleasantly surprised by the standard of men who have already expressed an interest.
Sky Bet have cut Nigel Worthington to 2/1 (from 4/1) to be next Wednesday manager.
Hearts manager Csava Laszlo has emerged as another potential contender for the job. He is a former boss at Hungarian side Ferencvros, a sister club of Sheffield United.
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Weather for Sheffield
Wednesday 08 February 2012
Today
Sunny
Temperature: -3 C to 0 C
Wind Speed: 10 mph
Wind direction: South east
Tomorrow
Cloudy
Temperature: -0 C to 2 C
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