Sheard says deal for Sheffield Wednesday is near

Geoff Sheard is adamant that his consortium is nearing a deal on taking over English Sheffield Wednesday.

Sheard is trying to pull a deal for the 30 percent stake owned by by former chairman Dave Allen, director Geoff Hulley and former director Keith Addy.

"We are still 100 percent committed to getting this deal done as soon as possible," Sheard told the Yorkshire Post. "We have also appointed (accountants) Grant Thornton to complete due diligence and the purchase of the shares."

Sources familiar with the takeover attempt said there is one final obstacle Sheard is trying to hurdle. If that is done, the attempt might be successful.

If the 30 pecrent stake is acquired, Sheard's team will try to strike a deal with supporters group Wednesdayite, which hold 10 percent. The Shareholders' Association would be another target. It holds 12 percent.

The club has GBP 26 million in debt.

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