A new local consortium are on the verge of offering a bid to take over cash-strapped Sheffield Wednesday. The consortium is believed to be fronted by two local businessmen who both support the Owls and wish to remain anonymous until a deal is finalised.

A spokesman for the new group told BBC Radio Sheffield: "It is a promising development but the reason the consortium doesn't want to say any more at this stage is to avoid publicity and pressure on all parties until a package can be put to both the club and the Co-op bank.

"Hopefully a statement will be made within the next month, but at the moment things are looking very encouraging."