Day Posted November 27, 2010 Share Posted November 27, 2010 Milan Mandaric has agreed a deal to take over Sheffield Wednesday, BBC Radio Sheffield understands. The deal for the Owls is believed to be worth £8m and Mandaric is expected to resign as chairman at Leicester. Mandaric, 72, is believed to have agreed a £7m settlement with the club's main creditor, the Co-operative Bank, who were owed £23.5m. The takeover now has to be ratified by Owls shareholders at an extraordinary general meeting. Other creditors, including former Owls chairman Dave Allen who was owed £2.4m, have also reached agreement over monies owed after talks between the respective parties' lawyers. More: http://news.bbc.co.uk/sport1/hi/football/teams/s/sheff_wed/9226161.stm Link to comment Share on other sites More sharing options...
StaffsRam Posted November 27, 2010 Share Posted November 27, 2010 Another club bailed out. Are we the only fooking club in existence who did the right thing and paid off our debts and not go into administration to shirk them?! Link to comment Share on other sites More sharing options...
smiffy Posted November 27, 2010 Share Posted November 27, 2010 Makes you wonder how the Co-oP Bank stays afloat, it seems to lose money on every deal in football. Link to comment Share on other sites More sharing options...
dcfcdavecov Posted November 27, 2010 Share Posted November 27, 2010 Probably got their money back off the interest repayments anyway. Link to comment Share on other sites More sharing options...
StaffsRam Posted November 27, 2010 Share Posted November 27, 2010 Makes you wonder how the Co-oP Bank stays afloat, it seems to lose money on every deal in football. We recently merged with the Co-op Bank. A bigger bunch of clueless ***** you will not find. So this really doesn't surprise me in the slightest. Link to comment Share on other sites More sharing options...
smiffy Posted November 27, 2010 Share Posted November 27, 2010 Probably got their money back off the interest repayments anyway.They did not from us, they lost millions. Link to comment Share on other sites More sharing options...
dcfcdavecov Posted November 27, 2010 Share Posted November 27, 2010 soz.. Link to comment Share on other sites More sharing options...
Dangerous Posted November 28, 2010 Share Posted November 28, 2010 hes resigned at lester Link to comment Share on other sites More sharing options...
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