Exclusive:Members of bid team sighted in S6 as Sheffield Wednesday takeover discussions continue
Members of a the bid team well-placed to take over at Sheffield Wednesday have been sighted around the club today, The Star understands.
A group led by US businessman David Storch is poised to take over preferred bidder status after administrators at Begbies Traynor kicked off an expediated process following the withdrawal of a James Bord-led bid last week. After a deadline was set for formal bids on Friday, discussions around preferred bidder status continued throughout the weekend and into this week. It is believed further discussions have taken place today.
As reported by The Star, it is believed to be possible that Storch himself could well be present at this evening’s Championship home clash with Watford and sources have confirmed sightings of members of his bid team around the stadium today. It is stressed that as things stand, it is understood that no deal is yet signed and sealed as conversations continue.
The prevailing wind behind Storch’s bid is strong and things are believed to be moving forward. The US-based group is led by Storch and Tom Costin, co-founder and managing partner of Owl Ventures.
“We recognise that this is a long journey - this is not a short term fix,” Storch said in an interview given to the BBC ahead of the last round of bids in December. “We have confidence between Tom and I, that between us, we have enough capital to get this thing going. Our plan is that as we sustain the team, and as we start making progress on the pitch, get back up in the Championship, it will be possible for us to go ahead and raise additional capital.
“I'm not doing this to own a football club. I'm doing this to make a difference. I want to give people something to feel proud about.”