Businessman Geoff Sheard has held talks with ex-Sheffield Wednesday chairman Dave Allen about buying his stake in the club, reports BBC Radio Sheffield.

Sheard, who heads a consortium wanting to take over the Owls, described the talks as "very constructive".

In February, Allen said he would sell his stake of almost 11% providing the Owls' supporters' society Wednesdayite, also sell their stake.

The Lancashire-based Sheard would not comment further on the meeting.

Sheard met Wednesdayite, who hold a 10% stake in the club, back in April.

Sheard has also held previous discussions with Sheffield Wednesday director Geoff Hulley and former board member Keith Addy who each own 10% of the club's shareholding.

Last month the club appointed a financial services firm to seek much-needed new investment.