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£20m cost of taking over at Hillsborough

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Published Date: 03 June 2009
By Paul Thompson
Sheffield Wednesday
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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  • Last Updated: 03 June 2009 8:52 AM
  • Source: Sheffield Star
  • Location: Sheffield
 
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1

Brisbane owl,

Beenleigh 03/06/2009 10:44:39
I just like the feel of all this. Not big money, but money well needed and spent, according to this report, wisley. Once again, well done so far LS & Co, We are all in the midst of a global recession and to even get this off the ground and running is really showing some
smart thinking by a true Wednesday supporter, who im sure wants only the best for SWFC UTO.
2

Brisbane owl,

03/06/2009 11:28:38
PS and Dave Allen gets his JUDAS money when we say so!!
3

Dr Bentley's Leg,

03/06/2009 12:13:31
You will take anything in BO. What a short memory you have. Do you not remember Geoff Sheard? Strafford is Sheard mk II but with much better spin skills. Dream on.....
4

Sensible Poster,

Sheffield 03/06/2009 12:24:31
Sheffield Wednesday fans are used to people hiding behind spin, Dr Bentley.

We've had it all from alleged 2 million pound bids to chancers such as Sheard.

Now we have a chairman who is open and transparent to the point of actively posting on fans websites. He's even holding a fans forum tonight with Brian Laws for 300 or so fans in a Q & A session.

Never in the past decade have I been more optomistic as an Owl. I expect comments from United fans on Wednesday pages as we are closest rivals, and vice versa. The poor strength of your argument though fills me with even more confidence.
5

s20owl,

03/06/2009 13:03:05
Dr Bentley's middle leg, we do remember Geoff Sheard and he was a fraud but we never allowed him to run the club or to try and get investment in the club like Lee Strafford is doing.

My only worry with Lee Strafford is that he has had a taste in the Hillsborough lime light and that he doesn't want to fully let that go when/if a new investor comes in. He started this job by saying it was a temporary position to help SWFC get the right investment and he would disappear once the right people were in charge. He has since stated that he wants a small investor and not a mega rich person/group to takeover probably in the hoping he can stay on and do things like Peter Kenyon does at Chelsea.

Ps. I'm not comparing Wednesday to Chelsea before the Blunts start grunting.
6

Sensible Poster,

Sheffield 03/06/2009 13:27:31
s20owl: Considering that season ticket sales are up 30%, we have a chairman who is willing to interact with fans, has a solid business framework in which to take the club forward, is a fan, and has brought about a feeling of goodwill not seen in years at Hillsborough - all in the space of 7 months - could you think of anyone else better to run the club?

If we can get the investment required to get us to the premiership whilst at the same time have someone at the helm who we know has the best interests of the club at heart - then I'm more than happy.
7

Dingle Dick,

Back-on-line 03/06/2009 13:28:51
Deadline is Christmas now is it?
And the latest transfer target is from Carlisle?
Surely you don't have to look too hard to see through this guy, Owls fans?
8

Sensible Poster,

Sheffield 03/06/2009 13:35:44
Dingle - surely you're not suggesting we turn on our own chairman - next you'll be telling us to stand in the car park and take a shoe off.

Please show me where it says the next transfer target is from Carlisle.
9

s20owl,

03/06/2009 14:17:39
Read the last paragraph Sensible Poster.
10

AlienBlade,

03/06/2009 14:25:02
Sensible, where you make very valid points, and maybe just maybe all this is exactly what it says on the tin, I do think alot of Wednesday fans see Stafford as the saviour purely becuase "he is better than the last lot"

if you was to run Wednesday (or any business) your first port of call would be to get cash, so he's done that, not exactly rocket science, however its not over and by his OWN admittence he state that "'If this doesn't deliver, Wednesday will never get major investment'" please note that he uses the word if, should there be the dozens of investors ready, waiting in line to plough money in, why would you be concerned, I think the trust is that yes he's gone to look for investment, hired a high profile investment bank, but thats as far as its got,

he's now set a deadline of Decemeber 2009, which is mid season, well after all the fans have bought their tickets etc (after previously setting the deadline for March 09) you think that investors will actually be rushed into investing, it would take far more than 6 months to check over everything especially in such a hyper-sensitive climate, its also very dangerous as if they suffer a poor start the investors will run a mile (imagine if you get the first three games against those coming down or other top teams) like playing russian roulette with 1 bullet and 2 chambers,
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