Date: 12th July 2007 at 10:22am
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Millionnaire Paul Gregg is the man currently in discussions with Wednesday over a possible takeover of the club, it emerged today.

Gregg, who makes his money through his leisure businesses and was also on the board at Everton recently, has been linked with a move of the Owls since current chairman Dave Allen revealed four parties were interested in investing earlier this year.

Allen revealed that he was hopeful investment of a takeover would be complete before the start of the 2007-08 campaign, with a number of names linked with the Hillsborough club.

And he told The Sheffield Star: ‘We have been talking to Paul Gregg since January.

‘He is well satisfied with the accounts and knows that the business is in good order. But I can’t make him do the deal.’

‘It is my firm belief that until 51 per cent of the shares can be got together – which guarantees control – then it’s going to be very difficult to make sensible progress.’

But the Owls supremo again brought up the ‘stumbling block’ of supporters’ group Wednesdayite’s current shareholding in the club which he says could scupper any potential deal.

‘I was hoping that we can get a big investor who will put a lot of money into the club. Paul Gregg is concerned (about the fragmentation of the shares]. That’s why I have been trying to get those Wednesdayite shares back.’ he added.

Allen also confirmed that he had not been in discussions with Ireland’s richest man, Sean Quinn, and also confirmed that the other mystery bidder was Carson Yeung, who is currently in a takeover deal at Birmingham City.