Sheff Wed supporters group Wednesdayite have voted in favour of selling their 10 per cent stake in the club.
Supporters group vote in favour of selling shares
Sheffield Wednesday supporters group Wednesdayite have voted in favour of selling their 10 per cent stake in the club to the Geoff Sheard consortium.
Sheard, backed by a Switzerland-based trust, had offered a little over £1million for Wednesdayite's shares and the ballot result opens the way for him to complete a £40million takeover at Hillsborough.
Sportswear tycoon Sheard recently played down reports he was set to complete a takeover, but he is now close to sealing the 30 per cent share holding required by the Takeover Code to gain control of the club.
Delighted
Former Owls chairman Dave Allen has already agreed to sell his 10 per cent stake and, after the agreement with Wednesdayite, Sheard is hoping current director Geoff Hulley and former board member Keith Addy accept similar offers for their shares.
Wednesdayite chairman Darryl Keys said: "We're delighted our members have voted in great numbers on such an important issue and emphatically supported our recommendation.
"I hope this sends a resounding message to the club, its directors and the fanbase at large that Wednesdayite has never been a stumbling block to any investor and that we have always recognised that at the appropriate time our shareholding had to play its part in securing a better and more successful future for the club."
