Mandaric hailed for saving Wednesday

29 November 2010 12:30
Sheffield Wednesday chairman Howard Wilkinson has hailed Milan Mandaric's takeover as "one of the most important days in the recent history of our great club" after the Owls confirmed the £8million sale to the Stock Exchange. Leicester chairman Mandaric, 72, will say goodbye to Foxes fans at the Walkers Stadium when he quits his post ahead of the televised npower Championship clash with Nottingham Forest. The Serbian-born businessman has struck deals with all Wednesday's creditors, including the Co-operative Bank and former Owls chairman Dave Allen, to wipe out the club's £30million debts. Wilkinson said: "I believe this to be one of the most important days in the recent history of our great club. "Our trials and tribulations have been well documented, but I can now see a brighter future for Sheffield Wednesday. "Our club has been on the brink of administration and if this were to happen then so many people around our club would have suffered. We do have one final hurdle to cross, and that is for shareholders to approve the sale at the upcoming emergency general meeting."

Source: PA