JOE Ashton, former Sheffield Wednesday director and ex-MP, is urging Wednesdayite not to sell their shares to the Geoff Sheard consortium.
The fans group, who have a 10 per cent holding in the club, are voting on Sheard's proposed Hillsborough takeover.
They will deliver their verdict on Wednesday August 6 and their leaders are pressing for the deal to be given the nod.
But Ashton today called for a no vote
"Why don't we have the debate now before votes on ballot papers are sent out?" Ashton asked. "Even on TV's 'Pop Idol' the viewers get to see the act before voting."
And he added: "If the fans vote for this they are giving away all the rights they currently have.
"There is no guarantee that a rights issue would not be made after the sale which would wipe out any fans interest and make our shares worthless."
The poll result will be declared after a meeting at the Niagara Sports Club, Wadsley Bridge.
Members of the fans group must first agree to change the rules which currently prevent them from selling their shares and then vote on whether to accept the offer.
Ashton argued that if the votes were postitive it would "give away over 10 per cent of the club for paper promises" and he stressed that Mr Sheard had also refused to address a meeting of Wednesdayite to answer questions."
"The club should call the deal off, the Owls are not broke or anywhere near administration," he claimed.
"It is not true that Geoff Hulley, the sole director of the club, is holding out for more money. He will accept 20p a share but he wants to see Mr Sheard's money up front. So does Keith Addy and the deal cannot be done without these people."
The Sheard consortium have already agreed to buy former chairman Dave Allen's shares and recently made a formal offer for Wednesdayite's stake.
Sheffield Wednesday have issued a statement confirming they approved of the vote.
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