Lancashire-based businessman Geoff Sheard, who represents a Swiss-based trust, wants to buy their 10 per cent stake as part of his move to acquire a controlling 30 per cent stake in the club.

Former Owls chairman Dave Allen has already agreed to sell his 10 per cent stake and it is understood that director Geoff Hulley and former director Keith Addy will meet Sheard today to discuss selling their 10 per cent stakes.

The board of Wednesdayite have recommended the sale of their shares to Sheard in ballot papers distributed to 1,200 members this week. The result of the vote will be announced after a special general meeting three days before the new season.

Significantly, they have imposed four conditions on the sale – Sheard must also acquire Allen's shares and those of either Hulley or Addy, he must agree not to sell the shares back to any previous director, he must provide legal proof of funding, and Wednesdayite must retain the right to sell to an alternative bidder prior to completion.

The club, who have debts of £27m, released a statement last night acknowledging Wednesdayite's intentions.

"The board welcomes this development and looks forward to the outcome of the ballot with interest. The board continues to be open to dialogue with any potential investors and to working to develop any acceptable proposal such that it can be presented to the Company's shareholders for their consideration.

"Any general offer for the entire share capital of Sheffield Wednesday Plc would be subject to the rules of the Takeover Code. Accordingly, on receipt of any offer proposal, the board is obligated to understand the source of the related funding and the wider strategic plans for the company and its employees. While certain discussions are still ongoing, there can be no certainty that a formal offer to shareholders will be forthcoming."

Doncaster Rovers are hoping to wrap up a deal for defender Matthew Mills after he was put up for sale by Manchester City.

Mills spent the majority of last season on loan at the Keepmoat Stadium but wanted to see whether the change of manager at City would improve his first-team chances.

Manager Sean O'Driscoll said: "Hopefully, we can now move it forward as quickly as possible."

Rovers have also agreed to sign Leeds United reserve team striker Tomi Ameobi who has been on trial after rejecting a new contract at Elland Road. Leeds will receive an appearance related fee as compensation.

Sheffield United defender Ben Starosta has joined League Two side Aldershot on a month's loan with a view to a permanent deal.

The Blades have offered a one- week to trial to winger Laszlo Fitos who plays for partner club Ferencvaros in Hungary.

Barnsley striker Istvan Ferenczi is set to join Ferencvaros after being put up for sale at Oakwell.