Exclusive:Solutions sought as key figures stage vital Sheffield Wednesday takeover meeting
Further talks over Arise’s takeover of Sheffield Wednesday have taken place, with one of the club’s administrators posting an encouraging message on social media on Friday evening. Alex Miller reports.
An important formal meeting between key figures from parties involved in the takeover of Sheffield Wednesday took place on Friday afternoon, The Star understands, with hopes that a way forward can be found in order for a completion by May 1.
It’s understood that representatives of the EFL, administrators at Begbies Traynor and senior members of the Arise consortium attended a meeting held via video conferencing platform to discuss a number of matters including the 15-point deduction set to be placed on the club next season as things stand.
An understanding developed from the view of several sources with knowledge of the meeting was that while the EFL have not altered their stance on their regulations, after a difficult few days the discussion appears to have developed the feeling that a solution can be found to push things forward - though hurdles remain and proceedings remain at a delicate stage. After what appeared to be something of a stand-off earlier this week, parties are said to have looked at new possible solutions.
It’s understood that further discussions will take place over the next week as time ticks down towards May 1. One insider suggested that the date is increasingly being looked upon as more of a deadline than a target, with Arise all too wary of the need to get moving on their plans for a Wednesday rebuild. The US group are primed to push on and are confident that the May 1 aim can be achieved.
The IFR - who were not present in the Friday meeting but are thought to be comfortable with Arise - take control of the vetting processes for new owners on May 5 and while pre-emptive efforts have been made to reduce any delays, it is inevitable that timescales would be set further back should the process tick over into that date. There are further logistical issues that would have to be navigated should the administration tick over into a new month.
Posting to social media on Friday evening, Wednesday joint-administrator Kris Wigfield said: “A positive day today. All parties pulling in the same direction. I am very lucky to have such a solution driven, skilled and hardworking team.”