Wednesday move closer to takeover

02 June 2009 08:32
Sheffield Wednesday's board have appointed a specialist sports-focussed investment bank as advisors on a possible takeover of the club. New York-based Inner Circle Sports LLC were integral in the takeovers of Aston Villa and Liverpool. Owls chairman Lee Strafford has just returned from talks with potential investors in the USA. He explained in a club statement that he feels progress can be made to secure the future of the club. The statement reads: "This bank and its directors have great experience in coordinating and executing transactions, both in the USA and in Europe, having been involved in many of the largest sports investment processes in recent years. "Prior to agreeing to undertake the assignment, Inner Circle Sports have undertaken initial due diligence to assess the extent to which a transaction can be completed and have satisfied themselves that the longer term opportunity for an investing syndicate is compelling."

Source: BBC_Sport