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New Owls supremos chase £50 million investment

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Published Date: 07 January 2009
By Paul Thompson
INVESTMENT being chased by new Wednesday chiefs Lee Strafford and Nick Parker could bring around £50m into the club over the next three to five years.
Today's appointment of Strafford as chairman and Parker as chief executive coincides with Owls progress towards a major deal with an unknown syndicate though there is still no certainty that it will happen.

It is understood that rather than the club being sold in a complete takeover, the board will pursue a large issue of new shares, which would be bought by the potential investors as a way of gaining control, and with the money going directly into the club.

The club could then seek the approval of shareholders at an extrraordinary general meeting of shareholders, perhaps as early as mid to late January.

It is possible that that would then pave the way for a second EGM by the end of March would rubber-stamp an investement deal, if indeed one is completed in the near future.

New money would be spread over the long term and it does not mean that Brian Laws - who has the full support of the new board - would get an immediate fortune to spend on players. It is not yet known how much he would get to spend or when exactly new money would arrive.

It looks likely that he will continue to explore the loan market for the time being.

The investment deal is complex because of the involvement of so many different parties: the club, their bank, a syndicate of investors, and club stakeholders and major shareholders.

Strafford and Parker are key men in the process, and various talks are believed to be on-going.

New duo take Owls top jobs: CLICK HERE FOR STORY

What do you think? Post your comments below.

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  • Last Updated: 07 January 2009 2:44 PM
  • Source: n/a
  • Location: Sheffield
 
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1

Zodiac,

07/01/2009 12:34:27
Is it April Fools Day already?
"It looks likely that he will continue to explore the loan market for the time being"... Ho Ho Ho
2

NothernSoul,

07/01/2009 12:41:45
Very good. Today was a good sign, Sheffield United have wivdrawn their shares from the stock market.

Recession Looms!
3

Shez's Screamer,

07/01/2009 12:48:28
Quiet day again at pigsty??
As in my prev post re ticket fiasco - i suggest u blunts should stick to digesting your little business deal involving Billy 'Cant score Wont score' Sharp!
Loan market has been good enough to demolish piggies in recent games - i reckon we should throw in the under 13's for the next derby to give piggies a chance!!
up the owls
4

Lewis Skinner,

07/01/2009 13:27:17
Sounds like a deal is being done without the approval of the Wednesdayite members. What will happen to their investment?
5

,

07/01/2009 13:27:34
Comment Removed By Administrator
Reason: Duplicate post
6

Parson X Owl,

Sheffield 07/01/2009 13:28:08
We shall see?

It just concerns me that as Lee Strafford has now been named as chairman, this pretty much rules out any chance of a complete takeover.

All it leaves now, is the possibility of some small investors being shuffled in to the club, in exchange for some large collateral in Sheffield Wednesday FC.

It just leaves us open to more gamblers and wideboys, looking to take a piece of the club on the cheap, like Sheard. Unless, of course Lee Strafford has a small fortune that he himself is intending to pump in to the club?

If this is the case, then this news is a fantastic development. If not, then all I can see, is another long, hard slog.

Is this the kind of progress we were waiting for? Time will tell?

Up the Owls!
7

Still Suffering ,

07/01/2009 13:42:38
Parson X - have you not been paying attention?
Messrs Strafford and Parks have already identified and have been working with new investors for weeks now. They have been talking to all the parties involved i.e. the bank, current shareholders etc and all seems to be progressing well. Fingers crossed it all just needs to be rubber stamped in the coming weeks. The fact that these two are now the full time Chairman and Chief Executive Officer is the best news we have had for a long time.
8

MorleyStOwl,

Sheff 07/01/2009 14:01:06
Small investors, gamblers & wideboys? If thats what you call a syndicate (supposedly UK/Indian/Swiss) thats going to invest £50m over 3-5 years, then god knows what a large investor is Parson X Owl.
Sounds good to me. From what I've seen I'm happy with Stafford as Chairman too. Him and Parker done more than the board has done in the last 2 years and thats before their appointment as Chairman & CEO yesterday.
While there might no be a large pot of money to spend immediatley there must be some, as even if it's spread monthly over 5 years thats still £830k a month. That alone could get you some players. I suppose however some debt's would have to be paid first however such as Dave Allen.
9

MorleyStOwl,

Sheff 07/01/2009 14:13:27
Actually I've just changed my mind, the first bit of money we get should be used to pay up Jeffers contract so we can get rid of the waster. Yesterday on this website some numpty was saying we should give him a few more 90 minutes. As it has taken him till last Saturday to complete 90mins for us, then a few more and it'll be 2019 not 2009
10

maygurney owl,

london 07/01/2009 14:16:40
great news but the money to come over 3/5 years dont think that will help much and we will still have all the det as well.
also are the new chairman and Executive taking anything out off the club ie wages???
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