Gregg pulls out of bid for Wednesday

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Hillsborough chairman Dave Allen blamed Wednesdayite for the breakdown and branded some of their members "cretins".

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Unlike the ground, Wednesday have not been flooded with offers

Club directors were ready to sell their 30 per cent stake but Gregg, aiming for a controlling stake, decided that was not enough.

The letter referred to the "blocking" effect of the 10 per cent held by Wednesdayite, who have been offered £500,000 for their shares by Allen in an attempt to hook a big investor.

Allen, who believes Gregg may reconsider if Wednesdayite relent, is planning to double his holding to 20 per cent, saying: "They call themselves fans but they're cretins. I've got £3million stuck in the club and I'm not walking away from it."