Date: 3rd November 2010 at 9:56am
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Wednesday’s proposed investment deal with Certified Oilfield Rentals (COR), led by Kevin Mundie, has collapsed.

COR were set to mount a takeover of the npower League One club last month, with a £2m payment upfront to help with the running of the club and to pay off a tax bill from HMRC.

But the money has yet to materialise and a spokesperson for Mundie told the Yorkshire Post: ‘For business and personal reasons which are wholly unconnected with the club, Kevin Mundie and COR have regrettably felt they must withdraw from further involvement in the proposed purchase.

‘Other consortium members are continuing to discuss further involvement and a statement will be made shortly.’

Owls chairman Howard Wilkinson has always said that other parties have shown an interest in investing in Wednesday but COR were the front-runners and seemed closest to completing a deal for the club.

But it seems like things are back to square one as far as the future of the club is concerned, and with a High Court date penned in for Wednesday, November 17 over the unpaid tax bill to HMRC, things are once again looking bleak at S6.

Keep checking Vital Wednesday for all the latest updates on the proposed takeover.