Sheffield Wednesday fans' group Wednesdayite are today expecting a formal offer for their club shares from a mystery consortium which will pave the way for a takeover at Hillsborough.
The consortium, headed by Lancashire businessman Geoff Sheard, are also understood to be poised to buy out former chairman Dave Allen, former director Keith Addy and current board member Geoff Hulley, who own 30% of the club's shares.
Wednesday's current directors have refused to comment on the growing speculation, but Wednesdayite chairman Darryl Keys confirmed Sheard had promised a written offer for the fans group's shares, which amount to 10%.
Keys told PA Sport: "All these discussions have been friendly, open and professional and revolved around the process of how we would relinquish our shares.
"We've been offering help and advice to Mr Sheard, who we've been speaking with for several weeks, and we're expecting something formal today.
"When we get that our position crystallises and we would then go to our shareholders for a decision on whether to sell."
Keys said shareholders would require 14 days' notice from when the offer was received and hoped Sheard himself would then attend a shareholders' meeting.
Keys added: "From our perspective, if someone comes forward with a comprehensive solution to the club's problems and takes the club forward then in principle we would recommend we sell our shares.
"We don't know much about the consortium at all and we didn't want to ask too many questions at this stage.
"But Geoff Sheard has been very good and we're very encouraged by how he has gone about this.
"Hopefully he will come and address the members directly, face to face at the meeting.
"Shareholders may want to vote at the end of it after hearing everything that has to be said and if he was there to answer questions it would help convince shareholders to sell."
Wednesday, who moved out of the Coca-Cola Championship relegation zone with a 1-0 win over Cardiff on Saturday, are currently £27million in debt.
Former chairman Allen, who is owed £3.5million in loans by the club, resigned in November, blaming his decision on the "unprofessional behaviour surrounding the business" and leaving only three directors on the board.
Allen blamed Wednesdayite for refusing to sell their 10% stake after a proposed takeover by former Everton director Paul Gregg fell through last summer.
It has been reported that the mystery consortium is ready with £50million to invest in the club and that Sheard has worked in the kit manufacturing business and on the commercial sides at both Preston and Stoke.
