Sheard to wait for Sheffield fans ballot

Geoff Sheard is ready to wait longer than expected for a decision from English Sheffield Wednesday fan group Wednesdayite. Sheard, who recently issued a proposal to the 1200 members group to acquire their shares, is anxious for things to move along. However, members of the group will be exercising their right to a two-week review of the proposal prior to a ballot.

"I believe there is a willingness from everyone to move forward. I hope there is," Sheard told The Star.

"I'd like to be in before the start of the season on August 9. With the greatest will in the world, I can't tell you when we'll be in. I'm convinced we have a very good proposal with what we want to do."

According to the Yorkshire Post, Sheard refused having a representative on the club's board.

Although there was some question surrounding the validity of the offer, Wednesdayite has since decided to proceed with the vote. The group owns ten percent of Sheffield shares.

Sheard continues to await responses from Director Geoff Hulley and former board member Keith Addy, who each hold ten percent of the shares as well.

The takeover, worth approximately GBP 8 million, is being fronted by a Swiss-based trust. The club also in debts of GBP 27 million.

Source: euFootball.BIZ © Copyright 2006 - All rights reserved.