Owls sale is off

The proposed £45 millon sale of Sheffield Wednesday to Azerbaijani businessman Hafiz Mammadov has collapsed.   Milan Mandaric, who has been the owner of the Owls for three-and-a-half years, will now have to find a new buyer.

The players have been sporting the ‘Azerbaijan Land of Fire’ logo on their shirts.  Due diligence had been completed.   Mr Mandaric has now threatened legal action against Mammadov.

The proposed £45 millon sale of Sheffield Wednesday to Azerbaijani businessman Hafiz Mammadov has collapsed.   Milan Mandaric, who has been the owner of the Owls for three-and-a-half years, will now have to find a new buyer.

The players have been sporting the ‘Azerbaijan Land of Fire’ logo on their shirts.  Due diligence had been completed.   Mr Mandaric has now threatened legal action against Mammadov.

Azerbaijan is a wealthy country because of oil, but it does not enjoy a reputation for the highest standards of probity.   It ranks 127 out of 177 on the World Corruption Index where the lower a country is ranked, the more corrupt it is perceived to be,  Clubs outside the Premier League are sometimes forced to rely on prospective purchasers who may be unable to deliver on their promises.