Date: 17th November 2010 at 1:42pm
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A Spencer Fearn-led consortium is leading the way for a takeover of Wednesday, following today’s High Court decision to grant the Owls a 28-day adjournment.

A High Court judge gave Wednesday four-weeks to find a buyer, and pay off an unpaid tax bill of £600,000, and the club will now start further negotiations to secure its future.

Reports suggest Spencer Fearn’s consortium is now the front-runner – and that a deal was close to being completed yesterday.

It means a deal could be struck sooner rather than later, as Wednesday look to avoid the late drama of the last 48 hours.

Another local consortium, led by former director Mick Wright, will still try and negotiate a deal, while Milan Mandaric’s offer remains on the table.

A Middle Eastern consortium is said to be interested, but no details have yet emerged about the identity of the main players and funding.