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Page last updated at 15:32 GMT, Wednesday, 7 January 2009

Strafford appointed Owls chairman

Sheffield Wednesday chairman Lee Strafford.
Strafford was appointed to the Owls board in December

Sheffield Wednesday have appointed director Lee Strafford as chairman.

Strafford has confirmed four parties, based in the United States, India and the UK, are interested in investing in the Owls.

He told BBC Radio Sheffield: "It's already in place because that's about the management team and the mandate to run the club.

"We have a syndicate of investors who have bought into the concept of investing here through us."

The 36-year-old, who joined the Owls board last month, has confirmed that there will be a share issue to provide an investment opportunity into the club.

"What you do is get new funds in as quickly as possible, the way to do that is to expand the shares available and provide a vehicle for that new funding to come in."

The Owls have been without a chairman for more than a year since Dave Allen resigned in December 2007 and Strafford says his first priority is to get new investment into the club by the end of March.

"What we want to end up with is a situation where the syndicate have a fair shareholding in the structure, the debt gets re-structured down to a positive level and everyone else gets to hold onto their shares."

Strafford believes that the club offers good value for money for any investor.

"We've a great brand, great stadium. Don't waste your money buying an expensive Premiership club, come here and do a smart investment."

Meanwhile, the club have also appointed Nick Parker as the company's chief executive officer. The 48-year-old also joined the Owls board in December.

Parker replaces Kavan Walker, who left the post by mutual consent last week.

Former Wednesday captain Lee Bullen believes the appointment of Strafford and Parker is a great step forward for the club.

"It's absolutely fantastic news. I'd like to wish both the gentleman the very best of luck, this is a major positive for the fanbase alone."

Lee Strafford will be on BBC Radio Sheffield's Football Heaven on Wednesday from 18:00 GMT.

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see also
Owls' chief executive leaves club
29 Dec 08 |  Sheff Wed
Owls confirm talks with investors
17 Dec 08 |  Sheff Wed

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