11 Oct 2010Sheffield Wednesday receive cash injection

Football Clubs News | Football Finance News

Sheffield Wednesday have revealed that an unnamed investor is poised to pump £2 million into the troubled League One football club to solve its existing cash-flow problems.

According to BBC Sport, the South Yorkshire side owe more than £20 million and are currently the subject of a winding-up order from HM Revenue and Customs (HMRC), following two previous petitions in the summer.

"For the first time since we've been seeking investment, we've seen real cash on the table," chairman Howard Wilkinson explained. "I'm cautiously optimistic and if my cautious optimism proves to be right it is a fantastic day."

Wilkinson added that the anonymous backer has made a "commitment based on trust" and promised football fans that the club will emerge stronger from its considerable financial woes.

In recent weeks, reports have suggested that former Sheffield Wednesday manager Chris Turner has been attempting to broker a deal on behalf of a consortium from the Middle East.

Written by Paul Roberts

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