Date: 29th January 2010 at 8:31am
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Details have today been revealed about an American investment company that have been in talks regarding a takeover over Wednesday since the Autumn.

The Yorkshire Post has this morning revealed that Chicago-based Club 9 Sports have been in discussions with Owls chairman Lee Strafford for months in a bid to tie up a takeover of the Championship club.

Of course, we’ve been here before, but it’s believed that the current deal has brought the Owls closer to vital investment than ever before.

The proposed deal would see Strafford remain as club chairman and Nick Parer keep his role of chief executive.

It would also wipe out half of the club’s reported £22 million debt thanks to a major new share issue which is set for new investors to put new cash into the club in line with a deal with the Co-op, Wednesday’s bank and largest creditor.

The Chicago-based Club 9 Sports is a joint venture between a sports management company and a merchant bank and was brought to the attention of the club by Inner Circle Sports.

An update is expected to follow on the official SWFC website and, of course, here on Vital Sheffield Wednesday.