Owls confirm investment progression

One mystery consortium has been reported to be ready to complete a £20million takeover, with two other groups also keen to enter into talks with the Owls, who still have debts of around £26million.The Owls appointed New York investment bank Inner Sports Circle in the summer and negotiations with their huge network of institutions could be finalised within weeks.Strafford said: "We continue to make positive progress with potential investors and we will update supporters when further developments unfold on this front."Wednesday parted company with manager Brian Laws "by mutual consent" on Sunday after a run of nine games without a win saw them slide into the bottom three and academy manager Sean McAuley has been placed in temporary charge.Strafford added: "The investment process is not affected by this development because of the careful and professional manner in which this situation has been handled."

Source: Team_Talk