Sheffield Wednesday have refused to comment on the latest speculation surrounding the cash-strapped Championship club's proposed takeover.Lancashire-based businessman Geoff Sheard has been linked with a £5million bid to acquire the 30% stake in the club currently owned by former chairman Dave Allen, director Geoff Hulley and former director Keith Addy.

Sheard's consortium is reported to have set aside another £35million to acquire the remainder of the club's shareholding.

Former Boston chairman and Darlington chief executive Jon Sotnick is also fronting a British-based consortium bidding to take control of the Championship strugglers.

However, a Wednesday spokesman said: "The club are not in a position to comment on any speculation of this kind."

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