How Sheffield Wednesday will choose who will take over the club - two conditions must be met | OneFootball

It has been revealed how it will be chosen who takes over Sheffield Wednesday

Two key conditions will be used to select which potential buyer will take over Sheffield Wednesday.

The Owls were placed into administration at the end of November by former owner Dejphon Chansiri, after he was unable to satisfy a £1m HMRC bill.

Despite sitting 17 points away from safety and with £50m proof of funds needed, 11 parties have reportedly shown a strong interest in purchasing the Steel City side.

Some of those names are known, such as Mike Ashley, John Textor and John McEvoy, having already made trips to visit the Hillsborough stadium with a view to purchasing the club.

It has been reported that the list of potential buyers will be narrowed down to a list of ‘serious and viable’ bidders in the coming weeks, before administrators hope to select a preferred bidder and grant exclusivity to one party on December 5.

The two conditions that new Sheffield Wednesday owner will be selected on

With so many interested parties presenting themselves regarding a Sheffield Wednesday takeover, the administrators have had to establish guidelines that will allow them to choose the correct candidate.

According to the Sheffield Star, the Owls will be sold to the party that can both offer the best realisation of debts to its creditors and satisfy EFL vetting procedures.

11 parties have already provided £50m proof of funds, so being able to satisfy any financial demands shouldn’t be an issue.

Therefore, the potential buyer that can offer the best realistic solution to creditors whilst impressing the EFL’s checks will ideally be selected.

It has previously been reported that a soft deadline for bids has been set at November 21, which means that the Hillsborough faithful don’t have too much longer to wait before interested parties start putting offers on the table.

Sheffield Wednesday will hope for a swift resolution to their takeover situation

Given how complicated matters were under Chansiri, Wednesday supporters will understand that the process of selecting their next owner will take time.

To avoid someone similar to the Thai businessman taking over again, the administrators involved will explore every possible avenue to make sure they’re handing the Owls over to the best possible candidate.

Once that time comes, Wednesday will hope that the process is swift and they can quickly look ahead to the future under their new leader.

Whether it be Ashley, Textor, McEvoy or a party that is unknown at this point, the Hillsborough faithful will no doubt get behind their latest owner and back them all the way, knowing they will have satisfied the administrators’ two main demands.