There's no story yet but on the BBC website it's saying

Discussion in 'Bulletin Board ARCHIVE' started by DJ Fatty Boy, May 7, 2008.

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  1. DJ Fatty Boy

    DJ Fatty Boy Well-Known Member

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    'FOOTBALL: Sheffield Wednesday tells the Stock Exchange it is looking for a buyer for the club. More soon.'

    It's a ticker across the top of the Football page

    Thought they had a buyer in place
     
    DJ Fatty Boy, May 7, 2008
    #1
  2. tinatyke

    tinatyke Well-Known Member

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    They've got two haven't they?
     
    tinatyke, May 7, 2008
    #2
  3. BFC Dave

    BFC Dave Well-Known Member

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    They have two interested consortia

    ... the approach to the stock exchange is to advise that neither have made an approach for the shares. Radio Sheff (Giddings) suggested that this was a tactic to bring a deal to fruition. More worrying for Wednesday is that Delloites have been asked to source a 'serious' investor. Giddings said regarding the take over 'believe it when he sees it'
     
    BFC Dave, May 7, 2008
    #3
  4. pau

    paul.d Well-Known Member

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    interestingly................

    that's exactly what Beagrie said on Soccer Night about a month ago! let's hope it all goes wrong and they still have the debt next season:D
     
    paul.d, May 7, 2008
    #4
  5. Gue

    Guest Guest

    Let's be reight

    Who in their right mind is going to set on £26 million of debt on the chance that Sheff Wed will get in the Premiership ?
     
    Guest, May 7, 2008
    #5
  6. *Windy

    *Windy Banned Idiot

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    We need to be circling overhead now....

    </p>

    ....ready to swoop for Mark Beevers.</p>
     
    *Windy, May 7, 2008
    #6
  7. E.I. Addio

    E.I. Addio Well-Known Member

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    RE: Let's be reight

    The clubs a broken down shambles, and a fair reflection of the city. I wouldn't touch them with yours.
     
    E.I. Addio, May 7, 2008
    #7
  8. Gue

    Guest Guest

    RE: Let's be reight

    Reassuring, thanks.
     
    Guest, May 7, 2008
    #8
  9. W1z

    W1zz Well-Known Member

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    Latest news on wire is 'SOCCER Sheff Wed: Sheffield Wednesday today confirmed they are still to receive an acceptable takeover offer for the club.'

    NO TAKEOVER OFFER FOR WEDNESDAY

    Sheffield Wednesday today confirmed they are still to receive an acceptable takeover offer for the club.
    The Owls, who only avoided relegation from the Coca-Cola Championship on the final day of the season on Sunday, are estimated to be £27million in debt and have been seeking investment for some time.
    Reiterating their position from last week, Wednesday said in a statement: “The board continues to be open to dialogue with any bona fide offeror and to working to develop any acceptable proposal such that it can be presented to the company’s shareholders for their consideration.
    “While certain discussions are still ongoing, there can be no certainty that a formal offer to shareholders will be forthcoming.
    “As a result, the board have now requested that its financial adviser, Deloitte & Touche LLP, actively seek a buyer that shares the boards’ vision for the long term success of the club.”
    Wednesday announced they had been approached by an interested party back in February and had been involved in ongoing talks with several parties, including a consortium headed by Lancashire-based businessman Geoff Sheard.
    A second consortium, fronted by former Boston chairman Jon Sotnick, have been reported to be ready to make their own bid to purchase the club’s shares.
     
    W1zz, May 7, 2008
    #9
  10. The

    The Albatross Well-Known Member

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    Europe in 3 years??!!! nt
     
    The Albatross, May 7, 2008
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  11. Gue

    Guest Guest

    Clock's ticking !

    The sad deluded *******.
     
    Guest, May 7, 2008
    #11
  12. The

    The Albatross Well-Known Member

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    Massive club with great fan base though ..............

    ....... so top 6 in the Premiership and a place in Europe is a formality ............ as it is for

    Leeds
    Sheff Utd
    Notts Forest
    Leicester
    Stoke
    Wolves
    Birmingham
    Derby

    Need I go on!!
    :D
     
    The Albatross, May 7, 2008
    #12
  13. Gue

    Guest Guest

    Dis club ers masserv

    Da noz.</p>

    They'll be bricking it if no buyer comes forwards. Bring back Dave Allen.</p>
     
    Guest, May 7, 2008
    #13
  14. JLWBigLil

    JLWBigLil Well-Known Member

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    The Wednesday fans at work

    Certainly seem to rate him.
     
    JLWBigLil, May 7, 2008
    #14
  15. kestyke

    kestyke Well-Known Member

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    Sounds reminiscent of John Dennis's important announcement

    just before we went into Admin., wonder if the Co-Op are asking Wednesday to cough-up?
     
    kestyke, May 7, 2008
    #15
  16. Man

    Mancunian Tyke New Member

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    What would it take for Wendies to go into administration?

    Would love it :D
     
    Mancunian Tyke, May 7, 2008
    #16
  17. Merde Tete

    Merde Tete Well-Known Member

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    RE: What would it take for Wendies to go into administration?

    If I understand the process correctly, it would take one of their major creditors to call in a debt which the club were unable to pay - which is very unlikely, as it would mean that the creditor (the bank I believe) would almost certainly lose a large chunk of the debt.
     
    Merde Tete, May 7, 2008
    #17
  18. M1 Tyke

    M1 Tyke New Member

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    A situation where they were unable to service their debt.

    But by charging £600 a season ticket they should be able to keep paying the interest and avoid administration
     
    M1 Tyke, May 7, 2008
    #18
  19. Gue

    Guest Guest

    Co-op bank are owed about £24mill I think

    Or certainly the majority of Wednesday's debt - they can't afford to get 10p in the pound back so they'll never call in the debt.
     
    Guest, May 7, 2008
    #19
  20. *Windy

    *Windy Banned Idiot

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    Do the creditors have any control over spending?

    </p>

    Or is there a facility for them to apply for it? And could they demand the sale of some assets? Could they call in some of the debt or is it all or nothing? Which kind of soil makes hydrangeas go blue? Oh and how much Quorn can you eat before you start itching all over?</p>
     
    *Windy, May 7, 2008
    #20
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