Geoff Sheard has assured Sheffield Wednesday fans his consortium's takeover bid will be submitted to the club's board early next month.Owls supporters had grown increasingly worried that talks had foundered, but Sheard has told fans' group Wednesdayite the deal is definitely still on.

Wednesdayite chairman Darryl Keys said: "I spoke to Geoff Sheard on March 5 and he said he expected everything to move forward within a month.

"I spoke with him again on Sunday and he said the whole process was taking longer than expected, but that it was complex and talks between lawyers and accountants were going to plan.

"I'm reading it that it (a bid) would be another month from March 5."

Wednesday's board informed the Stock Exchange on February 29 that they had received an approach from a consortium which could potentially lead to a takeover.

Russian billionaire Vladimir Yevtushenkov has since been reported to be the financial muscle behind Lancashire-based businessman Sheard.

But a second, UK-based consortium have also expressed their interest in a possible takeover.

Keys added: "I've had contact twice in the last week with another consortium, who are mindful of the Geoff Sheard situation.

"They've seen it in the media but are pressing ahead with their own plans.

"We've encouraged both sides and been courteous to both, and it's really a question of waiting to see what happens next.

"The second consortium is UK people and they're quietly working behind the scenes. I believe they too have been in contact with the board."

Keys added Wednesdayite members would be voting to change their own rules preventing the sale of its shares in readiness for a takeover bid.

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