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Five offers have been made to buy Sheffield Wednesday, with a further two expected over the coming days, Daily Mail Sport understands.
The stricken Championship club is up for sale after falling into administration on October 24 following the disastrous ownership of Thai businessman Dejphon Chansiri. And confidence is growing that a new era could begin at Hillsborough within weeks, with three of the formal bidders thought to be serious players and in a position to put the Owls back on the road to recovery.
Offers have been received from groups based at home and overseas and each has provided proof of funds to the tune of £50million. A soft deadline of November 21 was issued by administrators Begbies Traynor but talks remain ongoing with other interested parties and two more bids are set to land imminently, according to those with knowledge of the situation.
One unlikely offer that will not be progressing came from an unnamed group who made it clear that they wished to merge Wednesday with bitter rivals Sheffield United, should they be successful.
The hope is that a preferred bidder will be in place for December 5, following which a period of exclusivity can begin.
Wednesday went into administration five weeks ago with the club in financial turmoil under Chansiri and unable to pay wages on time on several occasions. Fans have since rallied and, at Sunday’s derby at home to United, matchday revenues among the highest in the club’s history were recorded.
Five offers have been made to buy Sheffield Wednesday, with a further two expected over the coming days
The stricken Championship club is up for sale after falling into administration on October 24 following the disastrous ownership of Thai businessman Dejphon Chansiri
However, a chunk of that cash may end up in the pockets of the Football Association after a cigarette lighter was launched at celebrating Blades striker Tyrese Campbell after he opened the scoring in a 3-0 win for the visitors. Similar incidents in the past have resulted in hefty fines for clubs involved.
No fewer than 12 parties provided proof of funds to gain access to a data room outlining Wednesday’s financial position and set up by administrators. Wednesday are viewed as a historic club with a huge fanbase, and significant potential.
However, it is acknowledged that the winning party would effectively be buying a League One club. With a threadbare squad Wednesday have been hit by a 12-point deduction and are 18 points from safety. Further deductions may well follow.
Should a new buyer be in place it is likely that they would target the summer for a rebuild, with a focus on promotion back to the Championship at the first attempt.
