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Representatives of former West Ham United owner Eggert Magnusson are currently in discussions with League One football club Sheffield Wednesday over a possible buyout, according to reports.
Although the South Yorkshire side's board of directors is yet to confirm the identity of any potential bidder, media outlets have suggested the Icelandic businessman is among the front-runners to take control at Hillsborough.
"We are having ongoing talks with serious potential investors and when there is something tangible to report we will do," a spokesman for the club explained.
A previous approach for Sheffield Wednesday from American sports investment venture Club 9 Sports was rejected after protracted negotiations and Magnusson himself is not believed to have been present at the recent meetings.
Earlier this month, the side - whose debts amount to an estimated £26 million - were hit with a second winding-up petition by HM Revenue and Customs over an unpaid tax bill of £550,000.
Written by Paul Roberts
© Copyright
21 October 2010
21 October 2010
21 October 2010
20 October 2010
20 October 2010
