Exclusive: Sheffield Wednesday takeover group revealed

Club 9 Sports, a joint venture between a sports management company and a merchant bank, first expressed an interest in the Owls in the Autumn and talks have been ongoing since in a bid to finally tie-up long-awaited investment at Hillsborough.

The potential deal is understood to be along the lines of that previously revealed in a leaked prospectus from American brokers Inner Circle Sports, who were brought on board by Wednesday last year to seek out new investment.

The prospectus focused on a major new share issue, reserved for the new owners, to inject fresh money into the club allied to a deal with Wednesday's bank and largest creditor, the Co-op, to write off nearly half the Owls' 22m debt.

Club 9 Sports involvement was prompted by Inner Circle Sports and company representatives have visited Sheffield on a number of occasions since the Autumn. The Chicago company describes itself as a joint venture between Tobacco Road Capitalists, a sports management and sports media advisory company and Prometheus Capital Partners, a middle market merchant bank.

Although the club won't comment publicly on the interest from Club 9 Sports, Hillsborough sources believe the Owls are now the closest they have been to new investment for many years.

The proposed takeover would see Lee Strafford remain chairman and Nick Parker keep his role as chief executive.

A club spokesman said: "The investment process is continuing and we would hope to be able to inform our supporters and shareholders of progress in due course. The club is focused on securing a long-term partnership that will enable Sheffield Wednesday to build on its strong history and community values and once again become a competitive force on the pitch".

For full story read Friday's Yorkshire Post.