Sponsored by
Owls: Dennis Hobson backing US firm's bid for Sheffield Wednesday
DENNIS Hobson has told why he is backing Club 9 Sports' bid to take over the Owls - and revealed that he would act as a consultant to the club under the Americans' proposed regime.
The Jersey-based boxing entrepreneur and Owls supporter from Sheffield says that capable contacts of his who are Wednesday fans would also be coming on board.
Club 9's new offer is for an initial investment of 3 million.
"It's the best offer on the table and I believe in it," he told The Star.
"Instead of us being a rudderless ship, we have to build some solid foundations."
Hobson said: "If we do have a board clear-out and start again, then in my eyes we will have bottomed out; at the moment, I don't think we have; all that's happening now is that the debt is going to increase.
"This a chance of a new regime, and a new beginning - and it doesn't look like there's anybody else beating the club's door down."
Hobson says that he was approached by Club 9: "I would play a major part, on a consultancy basis, or whatever. My track record is there to see. I have contacts and ideas that I could bring to the club."
He has a worldwide reputation in boxing and has done major deals in the UK and America.
"It wouldn't be just the Americans coming in (to Hillsborough)," he said. "There would be other people who are Wednesdayites.
"We don't want the sort of thing that happened at Portsmouth; we want solid foundations.
"We need new investment, whether that comes from America or Timbuktu, and we need local people on the board, so everything can be transparent.
"It hasn't been the case the last 10 years."
Hobson is also calling for the issue to be discussed at an open forum.
Club 9 have accused Wednesday's board of presiding over "long-term, chronic failure of leadership." and have claimed that fans have been "ignored, disrespected and taken for granted."
They say their offer has been discussed with the club's bank (the Co-op), and fan group Wednesdayite.
Club 9 spokesman Robert Beal, of Gleam Live Media Management, who is also an Owls fan, said: "There is an agreement in place (with the bank] to write off 6.5m of the debt."
He added: "I understand that Wednesday have doubted proof of funds. If they want proof, all they have to do is ask. Why would Club 9 negotiate for seven months of they did not have funds?"
Club 9's initial offer, which was rejected by Wednesday in May, included an initial 2m investment, followed by 3m as needed, over the 2010-11 season. The new offer is 3m, followed by 2m as needed and no later than the start of the 2010-11 season.
Beal denied that the offers amounted to the same thing: "There is a confidential clause in the offer sent to the club which means there IS an increase."
He also said: "We want to do a deal now so that there can be funds that the manager needs."
Wednesdayite chairman John Gath said: "We have talked to a number of groups and individuals who might be interested in proving a solution at Wednesday. They are one of those. That's as far as it's gone at this stage."
It is understood that Wednesday have no intention of accepting Club 9's offer, that they believe it undervalues the club and does not address the issue of longer-term funding.
It is also believed Wednesday retain a strong relationship with their bank and are now more interested in talks which are ongoing with other would-be investors.
A source close to the club told The Star: "If anybody looks at how Club 9 have acted in the past few months then you have to question whether they are the right custodians for the club. Even if they were to get control, which they will not, then how will they fund the changes that need to be made? Our focus is on talking to serious, long-term investors."
Got a view? Add your comment below.
Follow The Star on Twitter and Facebook:
For breaking news and sport follow The Star on Twitter at www.twitter.com/sheffieldstar and on Facebook at www.facebook.com/sheffieldstar .
JOIN THE STAR READER PANEL: The Star is YOUR newspaper, so tell us what you think about it and what you want to see - CLICK HERE.
Don't miss our daily pull-outs - only in the The Star: Monday Star Sport, Tuesday Class Act; Wednesday Business; Thursday Grassroots; Friday Time Out; Saturday Retro. Subscribe to The Star - CLICK HERE
READ MORE
Subscribe to The Star or Green 'Un
Visit our Matchday Centre for free live coverage of every match
Football headlines. Football gossip. Blades news Owls news Reds news. Millers news. More rugby. More boxing. Sports columnists.
All sport categories
Watch Premiership highlights, international football, golf, tennis, darts and much more - click here
Email to a friend
Print this page
Looking for...
Featured advertisers
Jobs
Search for a job
Motors
Search for a car
Property
Search for a house
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
Wind Speed: 8 mph
Wind direction: South west
