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Milan Mandaric agrees Sheffield Wednesday takeover

Milan Mandaric has agreed a deal to take over Sheffield Wednesday, according to BBC Radio Sheffield.

The deal for the Owls is believed to be worth £8m and Mandaric is expected to resign as chairman at Leicester City.

Mandaric, 72, is believed to have agreed a £7m settlement with the club's main creditor, the Co-operative Bank, who were owed £23.5m.

The takeover now has to be ratified by Owls shareholders at an extraordinary general meeting.

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