Long-term is 'crucial' for Owls

Wilkinson is looking for long term investment for the Owls

Sheffield Wednesday chairman Howard Wilkinson says any potential investors must be able to protect the League One club's long-term future.

The Owls have avoided going into administration after their bank agreed to secure their immediate future.

"When we do get investment they will have to show they can manage the club properly on a sound basis," Wilkinson told BBC Radio Sheffield.

"Investment is crucial, but investment on its own will not solve the problem."

The Co-operative Bank confirmed to the High Court on Wednesday that they had given the Owls the facility to pay £1.1 owed to Her Majesty's Revenue & Customs in unpaid tax.

What you need, as well as investment, is sound management because we are not going to attract someone who is going to waste money Howard Wilkinson

At the hearing, club representative Hugo Groves confirmed that the club are actively seeking investment.

"There are very serious and advanced negotiations for the sale of the club," he said.

But Wilkinson has warned that Wednesday must be careful about any future agreements that could be in the pipeline.

"We need to make sure above all that we do not get to a position where the future of the football club is as close to curtains as it has been this week," he said.

"What you need, as well as investment, is sound management because we are not going to attract someone who is going to waste money."

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