Sheffield Wednesday Wait & Wait

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5 Responses

  1. Marco says:

    Excellent article.

    Main investment problem at Hillsborough is £28 million debt, mainly secured against stadium now worth about £6 million!

  2. DWowl says:

    Now Club 9 have given up , the key point of this article is the fact that the SWFC board of directors refuse to budge.

    They refuse to leave, despite their obvious failings which include taking a club well placed in the Premier League with a quite healthy bank balance and turning them into a League 1 club nearly £30m in the red. Their abysmal mismanagement continues to effect an already terminal situation, this season the club is expected to lose at least another £3m even with an estimated average attendance of 24k, which is optimistic to say the least. That fact was revealed even before the WUO fiasco, which came as an unpleasant surprise to supporters during a pre season that at that point had fans feeling good about their club for once due to the new signings and lack of sales…

    The small ray of hope for many, the eccentric but well meaning Lee Strafford was forced out by board room politics which came to a head when he found out the budgets that himself & the CEO Nick Parker had been working with were in fact inaccurate and the FD had been withholding information of a £1.5m shortfall. Lee had to go when Parker (with a £220k PA incentive) decided to back the people who hold the real power in the board room, which includes said FD.

    SWFC will never find outside investment until the deadwood in the board room accept they’re responsible for the mess Wednesday finds itself in and do the honourable thing and step down. Their stubbornness is unwavering though and they will continue to find excuses for turning away the few genuine interested parties that have come forward. Not that there have been many.

    As for mysterious interested parties, well they seem to appear each time the fans get truly restless then the rumours just seem to fizzle out. Funny that….

  3. Richard says:

    Good article, although a couple of points should be noted:

    1) One of Club 9′s offers this summer was made on a Thursday, in which they set a deadline for acceptance of close of business Friday (ie the following day). I don’t think any serious business would feel they could analyse and accept an offer in such a short time.

    2) Club 9′s original strategy appeared to be attracting 30000 fans into the ground, then the club couldn’t fail to get back to the “EPL”. (which seems broadly similar to an earlier strategy the aforementioned Stratford pursued) This doesn’t really tie in with the later comments about their attitude to sales and pricing!

    The one thing that appears to have come out of relegation and the Stratford era is the board seem to have accepted things can’t go on as they are, and that we have to seek outside investment. There is an obvious institutional resistance to change at Wednesday – effectively we’ve only ever had one board of directors, which has added and shed people over the decades. This might finally change though.

  4. Malc says:

    Excellent, well written article. Sums up the eventful life of SWFC perfectly.

  5. Frank Abagnale Jr says:

    If you look into the spokesman ‘Robert Beal’ you will find that he asked to represent Club 9 Sports free of charge as he hasnt got 2 pennies to rub together. This guy has been parading himself as a Media company able to sort all kinds of things. when it comes down to it, cant do anything and never will do anything

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