8 Oct 2010Sheffield Wednesday 'set for takeover'

Football Clubs News | Football Finance News

Cash-strapped Championship football club Sheffield Wednesday are on the verge of being taken over by a consortium of investors from the Middle East, a report has claimed.

According to the Daily Mirror, ex-manager Chris Turner has played a central role in arranging the £15 million deal - due to be announced at some point over the next few days - and will be rewarded with a senior job at Hillsborough.

One-time Hartlepool United chief executive Russ Green - a close associate of Turner's - is expected to be appointed as the club's new chairman, although Howard Wilkinson also appears set to remain on the board of directors.

The newspaper claims the group has already stumped up £600,000 to pay off a tax bill which is currently the subject of a winding-up order from HM Revenue and Customs (HMRC).

HMRC has already issued two previous petitions, the second of which was scrapped after an 11th-hour credit agreement was struck with the Co-operative Bank.

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Written by Paul Roberts

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