BBC Sport has reported that Jon Sotnick, the former Chairman of Boston United has ended his interest in Sheffield Wednesday.
The businessman declared an interest in investing in the Owls shortly before the end of the 20007/08 season as part of a British based consortium but has now given up any hope of this happening as his fellow backers have failed to detail their potential financial input.
In truth, the Sotnick bid was always seen as an outsider but confirmation that a potential rival has pulled out of the running will only add to the position of strength thought to be held by Lancashire businessman Geoff Sheard and his consortium in ongoing negotiations.