Wed, 11 Jun 2014 | BUSINESS SALE
Azerbaijani businessman Hafiz Mammadov has completed his acquisition of Sheffield Wednesday Football Club.
Mr Mammadov is chairman and founder of the Baghlan Group, which operates in the oil, gas, construction and transportation sectors. He acquired the Championship team, nicknamed the Owls, from Milan Mandaric, a Serbian-American business tycoon who owned the club for three and a half years.
The Yorkshire-based side is now the third club that the Azerbaijani businessman owns, adding to FC Baku from his home country and FC Lens, who recently gained promotion back to the top tier of French football. In a statement on the club’s website, Mr Mammadov said: "I am immensely pleased and proud to have agreed a deal to buy this wonderful club."
Milan Mandaric, the former owner of Portsmouth and Leicester, took over as chairman of Wednesday in December 2010 when he bought the club for £1 but agreed to take on their debts. Last year the club received multi-million pound investment from the former West Ham United chairman Terry Brown and Isreali agent Pini Zahavi.
Mr Mandaric is believed to have been in discussion with Mr Mammadov for several months. He insisted throughout that he would only sell to someone who could take the club forward, following on from their 16th place finish in the second tier of English football in the recently concluded season.
He said: "I am delighted to have concluded a deal with Hafiz, he is a true football man and I have no doubt whatsoever that I am handing over control to someone with a real passion for the game and the ability to carry on the work I started three years ago to return Sheffield Wednesday back to the top division of English football.
"It's something that the wonderful supporters of this club deserve having remained so loyal throughout the difficult times prior to my arrival."
The deal is subject to ratification from the Football League.
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