Date: 2nd October 2007 at 9:16am
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Fans’ groups Wednesdayite and the Shareholders Association have agreed to sell their 25 per cent holding in the club to pave the way for fresh investment.

Owls chairman Dave Allen was keen to acquire at least 51 per cent to enable the club to attract new investment, and the agreement by the two supporters’ groups will now enable prospective buyers to acquire 55 per cent.

Both groups balloted their members regarding the sale of their shares after Wednesdayite vice chairman John Gath held talks with Owls chief executive Kaven Walker at the end of last week.

And the news could well mean the club will seek investment sooner rather than later, with former Everton director Paul Gregg likely to renew his interest in the club after talks between the parties broke down earlier this season.

‘We still believe the issue of needing a 51 per cent stake has always been a red herring but, if it isn’t, we have now cleared the way,’ said Shareholders Association chairman David Coupe.

‘We have done the board’s job and written to every shareholder and asked them if they wanted to sell.

‘We have found enough people prepared to sell up if it helps the club go forward and we will be delivering signed slips registering that intention to the club shortly.

‘If there is someone out there who wants to buy a football club, there should no longer be an obstacle when it comes to Sheffield Wednesday.

The Owls board currently control a 30 per cent stake at Hillsborough but have insisted that potential buyers have been scared off because they’re unable to acquire at least 51 per cent.

And the decision to sell will now enable investors to purchase 55 per cent of the club, something which could spark fresh interest in the club.