Sheffield calm fans about financial future

Former Sheffield Wednesday chairman Dave Allen had been looking to sell the club and wipe away the GBP 27 million debt on the English club.

But, despite Allen's resignation last week, the club told fans that Sheffield will not head to administration and that there is no need to worry about the financial future.

"In response to media speculation, the current board have moved to assure shareholders and supporters the club's finances are not in any way threatened," read a statement from the club. "Regarding the club's financial position, Sheffield Wednesday continues to have an excellent working relationship with the bank and there is certainly no threat of administration at this time.

"Matters regarding the current status of the club will be discussed at the annual general meeting on Thursday and there will be an opportunity for shareholders to put their questions to the board at this time."

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