Milan Mandaric has explained why he today pulled the plug on a possible takeover of the club by Hafiz Mammadov.
Reports of a proposed new owner willing to spend millions on the club broke soon after the end of last season but, within weeks, there were worrying signs as sports headlines in France were full of talk of problems with Lens – the club Mammadov owns across the Channel.
And now club chairman Mr Mandaric has announced his decision to end the saga and so rule out the Azerbaijan businessman from becoming our new owner.
Milan said today:”Our supporters were extremely excited when the takeover was announced. Like me they believed Mammadov offered a great opportunity for the club.
“In hindsight my desire to please our supporters probably clouded my decision to grant further time for him to complete the process.
“Whilst I hope that Mammadov will very quickly overcome his difficulties in Azerbaijan, I cannot allow this speculation to continue.”
He added: “This club as always will attract people who are interested in acquiring a top English football club.
“I will explore every serious possibility and if I believe that there is someone who can accelerate our plans to return this club to the Premier League then I will do all in my power to welcome them to Sheffield.”
* Tell us your views on the Mammadov takeover saga by sharing your comments on Facebook