Date: 17th November 2010 at 12:58pm
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Wednesday have been granted a 28-day adjournment at the High Court today in a bid to complete a takeover deal and pay-off their tax bill to HMRC.

The Owls were expected to ask for a 14-day court adjournment after failing to complete a deal with one of a reported five consortiums looking to takeover the debt-ridden club.

But, after the case was temporarily put on hold at lunch for the judge to make a decision on the club’s future, the outcome has gone in favour of Wednesday.

Club officials will now have 28 days to go away and complete a takeover of the club, or risk going into administration if a deal isn’t complete.

A local consortium, headed by local businessman Spencer Fearn, is understood to now be the front-runner for the takeover.

More news to follow throughout the day.