Sheffield Wednesday made an official statement via their website, www.swfc.co.uk on Saturday in respect of their proposed takeover.
Having announced last month that Azerbaijan based businessman Hafiz Mammadov had made an offer in the region of £40M to buy that had been accepted by Milan Mandaric news on the progress of the deal had dried up recently, leading to speculation that the takeover could be off.
The official statement informed the public that the process had been held up as a result of Mr. Mammadov having to deal with important matters relating to his other business interests in Azerbaijan.
However, the deal is still stated to be very much on track and both parties have developed an excellent working relationship. Mr Mandaric and Mr. Mammadov had a very constructive meeting in London on Friday and are aiming to complete the deal as soon as possible. The due diligence process has been completed and the regulatory requirements of the Football League are thought to be close to being met.
The club statement concluded by informing the fans that the club hope to be in a position to provide a further update prior to the start of the new Championship season.