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Owls bid for £20m US investment
SHEFFIELD Wednesday hope to secure a £20m cash injection through selling ownership of the club to rich American investors by the end of the year.
The Owls have appointed the merchant bank which engineered the 240m takeover of Liverpool to secure new owners who could transform the fortunes of the debt-ridden club.
Club chairman Lee Strafford has already held positive talks with a number of potential US investors and believes the appointment of New York-based Inner Circle Sports will deliver the kind of investment Wednesday yearn for.
If a deal is eventually closed, the Owls will be almost wholly owned by Stateside investors. They are likely to be already involved in big sports franchises in the US, including Major League Soccer.
The proposed deal would see the new owners taking an 86 per cent stake in the club through an issue of shares. The 20m invested in the new share issue would then be available for spending both on and off the pitch.
For more on this story read Wednesday's Yorkshire Post.
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Saturday 26 May 2012
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