GEOFF Sheard will have to show official proof that he has the necessary funding before fan group Wednesdayite launch a ballot on his offer for their shares.
The takeover frontman has satisfied a similar demand from Dave Allen in lining up a deal for the former chairman's stake.
"It is a normal requirement in a situation like this," said Wednesdayite chairman Darryl Keys.
"This is something that Geoff Sheard now has to do. As soon as we hear from our lawyers that the funding is in place - and hopefully this process can be completed very quickly - we will immediately organise a ballot."
With Wednesdayite also hoping to hear more detail from Sheard on his plans and resources, Keys added: "We have always said that if there is a comprehensive solution towards taking the club forward then our shares would not be a problem. We want what is best for the club
"All four of the major shareholders (Wednesdayite, Allen, Keith Addy and Geoff Hulley) want the best for the club, so communication or a meeting between all four is something that we'd be happy to do, and if that included Geoff Sheard sitting around the same table then fair enough.
"We just want the affair to be settled as quickly as possible."
Wednesday have appointed Steve Watson as club captain in succession to the departed Lee Bullen. Richard Wood keeps the team captaincy which he held when Bullen was not in the side last season.
Manager Brian Laws sees Watson as an experienced figurehead and ambassador,who can oversee off-field responsibilities and public relations, while Wood concentrates on playing matters and is groomed for a more all-encompassing role in the future.
What do you think? Post your comments below. READ MORE Football headlinesMore BladesMore OwlsMore SpireitesMore RoversMore RedsMore MillersMore Ice HockeyMore rugby leagueMore rugby unionMore boxingSports columnistsAll sport categoriesThe full article contains 331 words and appears in Sheffield Star newspaper.
