Gregg would need trio's backing (From Daily Echo)

Gregg would need trio's backing

8:00am Thursday 14th February 2008 in Sport

PAUL Gregg will almost certainly seek the support of the three major Saints shareholders before he gets too involved in potential takeover talks.

The former Everton FC director, pictured, was interested in taking over at Saints' fellow Championship strugglers Sheffield Wednesday last summer.

But he pulled out of a deal because of the way the Owls' shares were distributed - a fans group owns ten per cent and the three major directors just 30 per cent. Gregg was seeking only a 51 per cent controlling interest at Wednesday, but withdrew his offer because only a third of the club's shareholding could be delivered with any certainty.

The 66-year-old, estimated to be worth around £130m, is the latest businessman linked with potentially investing in Saints.

Talks are believed to be at an early stage, though, with at least one major shareholder yet to be consulted.

Full story in today's Daily Echo