Gregg backs out of Wednesday bid

Jul 21 2007 by Our Correspondent, Liverpool Daily Post

SHEFFIELD Wednesday chairman Dave Allen has blamed a supporters group for the collapse of a potential takeover by former Everton director Paul Gregg.

Allen has announced that Gregg withdrew his offer for the club over concerns about the group’s 10% share in the club. The Hillsborough board hold just 32% of the club’s shares and the group in question, called ‘Wednesdayite’ and formerly the ‘Owls Trust’, will not sell their share without attaching conditions.

Allen said: “I would suggest the majority of fans get together and sort the minority out.”

Wednesdayite have responded to Allen’s remarks by insisting they are not responsible for the collapse of the deal.

Allen claimed that a letter from Gregg's solicitors proved the shares held by Wednesdayite were a major stumbling block.

He said: “The board have only got 30% of the club and that is a major problem. We’ve been talking to Paul Gregg since January. He’s been looking to invest in a club and he was particularly interested in Wednesday.

“He’s got connections in the area and his son’s a fan.

“We had a lot of meetings with him and he completed due diligence.”