Sheffield Wednesday Deal Disaster will Gut Gary Simpson
The failure of the Sheffield Wednesday takeover will gut Imps manager Gary Simpson. His beloved boyhood Owls, deserve Premiership football – Sheffield rules football was one of the fundamental building blocks of the game. With The Owls, The Blades and oldest club in the world Sheffield FC, there from the off, Premier League football must return to the Steel City soon. Surely its almost a birthright.
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The Sheffield Wednesday takeover saga was finally ended today by Milan Mandaric after Hafiz Mammadov. an oil and gas magnate continues to fail to deliver on a contract agreed in June. The takeover should have see him take over the club for £40 million as well as supply lucrative sponsorship. The club are already sporting the logo but The Owls feel a bit like they have been there done that and worn the somewhat unpaid for T shirt.
Mammadov, who owns French League 1 side Racing Club Lens and crack Azerbaijan outfit FC Baku exchanged contracts with Owls overlord and saviour Milan Mandaric in June, but has been unable to fund the purchase of the shares. Manadaric is currently considering legal action, however, world events and sanctions against Russia and its allies could well have something to do with things. Mammadov, founded of Azerbaijan-based Baghlan Group and has had to deny reports that he had been held in custody in his homeland due to financial difficulties earlier in the summer. Lens, promotion to the top flight was temporarily suspended due to lack of funds promised by Mammadov and will struggle this year after being able to strengthen the squad. Mamadov is also a big sponsor of Athletico Madrid in Spain who have had to sell some big stars this season
“Unfortunately despite working hard with both Mr Mammadov and his representatives since the agreement was signed he has not been able to meet the obligations set out in the contract for either the purchase of the shares or the sponsorship arrangements.
“Our supporters were extremely excited when the takeover was announced, like me they believed that Mr Mammadov offered a great opportunity for the club, in hindsight my desire to please our supporters probably clouded my decision to grant further time for him to complete the process.
“During this period I have continued to manage the business and to fund the ongoing financial requirements of the club as I have always done and will continue to do so.
“As supporters will have seen, we have fully committed to the sponsorship agreement, we are proudly wearing our new shirts with the ‘Azerbaijan Land of Fire’ logo and this alongside the other advertising inventory will give worldwide coverage to the country.
“Whilst I hope that Mr Mammadov will very quickly overcome his difficulties in Azerbaijan, I cannot allow this continued speculation to continue and have asked my legal advisors to take such legal action as they consider necessary.
“The club as always will attract people who are interested in acquiring a top English football club. Accordingly, I will explore every serious possibility and if I believe that there is someone who can accelerate our plans to return this club to the Premier League then I will do all in my power to welcome them to Sheffield.
“I believe the legacy I left behind at my previous clubs should give supporters every confidence, if any is needed.”
Milan had been expected to remain as Wednesday chairman had the deal been completed.
Posted on September 4, 2014, in The Championship Angle, Uncategorized, Writers - Neil Gentleman-Hobbs and tagged Sheffield Wednesday, Sheffield Wednesday fan Gary Simpson. Bookmark the permalink. 3 Comments.