26 Jul 2010Sheffield Wednesday 'to hold takeover talks'

Football Clubs News | Football Finance News

Cash-strapped Championship football club Sheffield Wednesday are to enter into discussions this week over a potential buyout, a report has claimed.

According to the Yorkshire Post, representatives from the Yorkshire side's board of directors will meet with an unnamed group of American businesspeople in the hope of securing emergency funding after a winding-up order was issued in the High Court.

"At present we are continuing to enter into dialogue with our advisers, Sheffield Wednesday Football Club and potential investors to explore solutions which will allow the club to operate on a sound and secure financial footing," the Co-operative Bank said.

HM Revenue and Customs sought last week's order as part of its recent crackdown on the so-called football creditors' rule, which it claims is depriving investors of money which is rightfully theirs.

Sheffield Wednesday were earlier reported to be the subject of takeover interest from US sports investment group Club 9 Sports, but it remains unclear what their current intentions are.

Written by Paul Roberts

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