Sheffield Wednesday: Hafiz Mammadov takeover is delayed

Sheffield Wednesday owner Milan Mandaric had been actively looking for someone to buy him out of the club

Sheffield Wednesday have confirmed a takeover by Azerbaijani businessman Hafiz Mammadov has been delayed.

The Owls initially announced the change of ownership on 10 June.

However, a statement on the their website said the completion has been delayed because Mammadov has been dealing with his other business interests in his homeland.

The Championship club added that they hope to update supporters again prior to the first game of the season.

Wednesday start their 2014-15 campaign away at Brighton on Saturday, 9 August.

The statement added: "The due diligence process has been completed and the club will hopefully soon be in a position to complete the regulatory requirements set by the Football League.

"We are pleased to confirm that Mr Milan Mandaric and Mr Mammadov met in London on Friday evening to discuss the takeover process and both parties confirmed their commitment to complete the sale as soon as practical."

Mammadov is the founder of the Baghlan Group and also owns Azerbaijan side FC Baku and French top-flight club Lens.

The impending takeover will end Mandaric's three-and-a-half-year spell as Owls owner, but he will stay on as chairman.