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Sheffield Wednesday manager Brian Laws made it clear in a Sky television interview last Friday that he thinks that the financial uncertainity at the club is undermining its performance on the pitch. He is scheduled to meet directors on January 2nd. Laws has been under pressure to reduce the wage bill after going over budget in the first few months of the current campaign. A boardroom split in November led to the departure of chairman Dave Allen who is willing to sell his 10 per cent stake in the club. Allen was not popular with supporters after he referred to various supporters as 'scum, cretins and a venomous bitch' during a press conference in the summer. The Owls have debts in excess of £26m, although they made a £1.5 profit in the last financial year and the revaluation of Hillsborough boosted the balance sheet by £3.16m. The club also hope to sell their Middlewood Road training ground in a deal which could be wortbh £10m, but are awaiting the publication of a revised planning scheme for the city early in 2008. The club's finance director has commented, 'Until we get a new investor, we can only spend what we receive in income. The club is walking a tightrope to make sure it survives year to year. We are striving to find new investors and are willing to do whatever possible to deliver what they want.'
Former West Bromwich Albion chairman Paul Thompson is one of those who have expressed interest in a possible takeover deal. Thompson was a founder of the software company who sponsored Wednesday for several years in the 1990s. He has not been involved in football since selling his shares in Southampton a year ago. Boxing promoter Dennis Hobson and a Jersey-based consortium have also expressed interest. A fans' group, the Wednesdayites, own 10 per cent of the shares. One of Wednesday's problems is that Sheffield is a two club (and not massive) city. Investors with no allegiance to a particular club seem to be going for one club cities with prosperous hinterlands.
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