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Sell your Owls shares? You decide
FAN group Wednesdayite are to vote on whether to sell their shares in the football club to the Geoff Sheard led consortium.
The organisations' 1,100 or so members will balloted with the result expected in early August - probably August 7 after a closed meeting of the group the night before.
A draft letter is being sent out to Wednesdayite's rank and file in the post and via e-mail with details of communication between Wednesdayite and would-be buyer Sheard.
It also contains a recommendation by the Wednesdayite Board which is being kept under wraps.
Members will be asked to answer a minimum of two questions on the ballot paper.
First Wednesdayite require a rule change in order to sell their 10 per cent of shares in the Championship club. A 75 per cent vote in favour is required to alter the constitution.
The second question is only relevant if the first is answered positively. It will ask if members want to sell to Sheard. A 51 per cent majority would be enough for the takeover to proceed.
Members will be able to vote be e-mail, in the post or at the meeting.
The poll has been endorsed by former Home Secretary David Blunkett, who has been advising Wednesdayite.
In a statement from the MP's office he said: "I can confirm that I advised Wednesdayite that despite legitimate unanswered questions and the need for urgent clarification and reassurances, it would be in everyone's best interests to try and move matters on immediately by moving to a ballot.
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"Clearly, those substantive matters which remain unanswered would then be on the table, but it is my view that any progress is better than the current impasse, the uncertainty and therefore the instability for the club which currently exists. A new chairman and board and of course, new investment, is self-evidently a vital and urgent priority and I hope that it will now be possible to engender a speedy conclusion.
"I ought to stress that I have not been dealing with either Geoff Sheard or existing directors or club representatives (which would clearly be inappropriate). But I have, as a longstanding and committed fan as well as the Member of Parliament in whose constituency Hillsborough stadium is sited, sought to do my best to contribute to an acceptable outcome to this long running saga."
Sheard said yesterday that he had expected the issue to go to a vote.
He has been advised not to attend the meeting when the poll's outcome is announced.
READ MORE
Stormvogels Telstar 0 v Sheffield Wednesday 2: CLICK HERE FOR MATCH REPORT
Laws flying high as goals flow for Owls/Blunkett advises fans group: CLICK HERE FOR STORY
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Saturday 26 May 2012
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