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Say 'no' to Sheard - former board candidate
FORMER would-be Owls chairman Phil Buckle is backing Joe Ashton's call for Wednesdayite members to vote against the sale of the group's shares to Geoff Sheard.
Buckle, a retired managing director who made an unsuccessful challenge to join the Hillsborough board eight years ago, believes that information about Sheard and his backers is too incomplete.
Former Owls director Ashton claimed last week that Wednesdayite would be losing their stake in the club for "paper promises" if their ballot approves the sale.
But Wednesdayite chairman Darryl Keys says that he believes the group's board have made the right decision in recommending a vote to sell, because there are conditions that provide safeguards.
Sheard, backed by a Swiss-based trust, has spoken of his desire to lead a Hillsborough revival and is in the process of trying to finalise the purchase of the 10 per cent stakes of Geoff Hulley and Keith Addy.
The Lancashire businessman is believed to be confident that he is on the brink of taking control.
Buckle, a Wednesdayite member, said: "To the best of my knowledge, Mr Sheard has not made enough details of his business activities available for us to be able to form an opinion about his abilities and achievements.
"He has not agreed to meet the Wednesdayite membership so we won't get the chance to ask him.
"Money is not everything; it's how you spend it. He won't allow his offer letter to be published in full.
"We know little or nothing about his investors and why they wish to buy into the club. There is no guarantee as to how much "new money" he will bring in.
"The alternative is to wait for an offer where we are better able to judge whether it will be in the long-term interests of the club.
"This will require patience because clearly all is not well at Hillsborough. But we only get one shot at this and we are in serious danger of jumping out of the frying pan and into the fire."
Wednesdayite's board decided that, despite a perceived shortage of information, they did not want to stand in the way of a possible fresh start for the club.
Keys said that he accepted that some fans would have concerns.
"Each person's opinion has to be respected. Our board debated the pros and cons long and hard. At the end of the day we had to make a decision, and the attached conditions provide safeguards," he said.
"If Geoff Sheard is capable of delivering on all his promises, the last thing we want to do is to frighten him away and see him move on to another club. If he meets these conditions, it proves it's serious."
The Wednesdayite board recommended that members vote to accept Sheard's 20p-a-share offer, so long as:
The shares are sold only in conjunction with the 10 per cent of Dave Allen, and at least one other 10 per cent bloc, from Geoff Hulley or Keith Addy, so that Sheard can reach his "stated aim" of acquiring 29.9 per cent. Sheard has agreed to this in writing.
Their shares will not be re-sold to any former director.
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All sport categories Sheard has already agreed to this, too
n Legal verification of the source of funds is provided.
n Wednesdayite can still consider any other offers that may crop up, and their board will use their own discretion over a time period for a completion of the Sheard deal or any other.
The result of the ballot will be known next Wednesday.
Addy and Hulley met Sheard last week and are thought to have been receptive towards selling their shares subject to legal verification of his funds and a meeting of lawyers.
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