Sheard closes in on Owls takeover

Hillsborough could be in new hands soon

Geoff Sheard is closing in on completing his takeover of Sheffield Wednesday, report BBC Radio Sheffield.

It is understood key shareholders Geoff Hulley and Keith Addy have agreed, in principle, to sell to Sheard.

Fans group Wednesdayite advised their members on Thursday to sell their share to the Lancashire-based businessman.

Sheard, who has also agreed to buy the 11% stake of former chairman Dave Allen, now has to prove his consortium can afford to complete the deal.

BBC Radio Sheffield understands a meeting should take place next week between Sheard's lawyers and those of Hulley and Addy, who each own a 10% stake in the club.

The result of Wednesdayite's ballot on Sheard's offer will be announced after a Special General Meeting on 6 August, their members also hold a 10% share.

Sheard's Swiss-based consortium needs a 30% stake in the Championship club to effectively take control at Hillsborough.