SHEFFIELD Wednesday will continue to seek new investors until Geoff Sheard or Jon Sotnick submits a formal offer to buy the cash-strapped club.
The Owls issued a statement yesterday confirming they are still 'open to dialogue' as no offers have been put on the table.
However, as previously reported, the Yorkshire Post understands that Sheard is close to finalising a £5m deal for a
30 p
er cent stake in the club owned by former chairman Dave Allen, director Geoff Hulley and former director Keith Addy.
Sheard, backed by Swiss and German investors, has also appointed accountancy firm Grant Thornton to complete due diligence and the purchase of the shares.
Former Boston United chairman Sotnick, meanwhile, has also made it clear that he is eager to push through a deal to buy the Owls and is meeting with his backers today to discuss their next move.
In a statement, the Owls made it clear they were not going to sit around waiting for offers, but stated the door was always open for possible investors.
"The board wishes to confirm that it has not at this time received any offer proposal from any party," read the statement.
"The board continues to be open to dialogue with any bone fide offer and to working to develop any acceptable proposal such that it can be presented to the company's shareholders for their consideration.
"However, the board does not currently have the required evidence to suggest that the posting of any offer document to shareholders is imminent.
"The board also wishes to confirm that none of the company's directors including Mr Geoff Hulley, has entered into any arrangement with any party regarding the sale of their own respective shareholdings in Sheffield Wednesday.
"Further, the board has received written confirmations from Mr David Allen, former chairman of the company, and Mr Keith Addy, a former director of the company, that they too have not entered into any such arrangements at this time."
Both Sheard and Sotnick have met supporters group Wednesdayite and the Shareholders' Association with a view to acquiring further shares in the club. Wednesdayite were gifted a 10 per cent stake in the club seven years ago while members of the Shareholders' Association make up a 12 per cent stake.
The Owls go into their final game of the weekend against Norwich needing a result to ensure Championship survival.
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