Date: 29th November 2010 at 12:53pm
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Milan Mandaric is aiming to make Wednesday a ‘real force in English football’ after agreeing a deal to takeover at Hillsborough.

The Owls today confirmed they’ve reached an agreement to sell the club to UK Football Investments, headed by the Serbian-American businessman, for just £1.

Shareholders have still to be asked to approve the sale at an EGM on Tuesday, December 14, but the deal is all set to go through without any problems.

And Mandaric, who announced his resignation as chairman at Leicester City yesterday, is keen to get Wednesday back in to the Premier League.

‘Sheffield Wednesday is one of the most famous names in football,’ he told the official SWFC website.

‘I have been able to speak to a lot of people in and around the Club in recent weeks, and their passion for Sheffield Wednesday has helped inspire me to get to this point.

‘As well as joining with Howard in thanking the former directors for their service and dedication, I would also like to thank the Co-Operative Bank for its help in delivering this transaction and its support for the Club over many years.

‘I give the supporters and everybody who cares for this club, an assurance that if shareholders vote in favour of this deal, then I will do everything in my power, working with Howard, Nick and Alan Irvine to again make Sheffield Wednesday a real force in English football.’

Mandaric will become chairman of the club, while Howard Wilkinson and Nick Parker will remain at Hillsborough as directors.

Wilkinson said: ‘I believe this to be one of the most important days in the recent history of our great club. Our trials and tribulations have been well documented, but I can now see a brighter future for Sheffield Wednesday.

‘Our Club has been on the brink of administration, and if this were to happen then so many people around our Club would have suffered. We do have one final hurdle to cross, and that is for shareholders to approve the sale at the upcoming EGM.

‘I will always be grateful to Milan Mandaric for showing the determination to save Sheffield Wednesday.

‘We have been able to spend some time in recent days speaking about football and what needs to be done here. I look forward to working with Milan in building a strong Club in which we can all be proud.’