Put your money where your mouth is! Offer for Owls thrown out

14 May 2010 14:20
Offer for club appears to have been regarded as indecent investment proposal For some months now Sheffield Wednesday have been engaged in dialogue with American sports investment company Club9Sports LLC. Today however significant developments have occurred which could well bring an end to their involvement in relation to the Owls. Club9Sports released a statement that they had made a formal offer of investment to Sheffield Wednesday Football Club that would apparently equate to the highest value ever placed on a League One club. In response to this however, SWFC has announced that this offer has been rejected. The club state that the Chicago based firm wanted to gain a 40% holding of share capital through new shares for an initial investment of just £2M, an amount that would reduce due to expenses and they would also charge Wednesday over £400,000 in annual management fees. Unless there is to be a serious review of what has been offered the club appear to me moving away from the possibility of a deal with Club9Sports and look set to turn their attentions to other potential investors. The news will no doubt come as yet another disappointment in what has been a long line of false dawns regarding possible investment in recent times. To view the statement regarding the offer made and the Owls official response to this visit: http://www.club9sports.com/CLUB_9_SPORTS.html http://www.swfc.co.uk/page/News/0,,10304~2052224,00.html  

Source: FOOTYMAD