Sheffield Wednesday takeover twist involving £30m demand emerges | OneFootball

The Owls are likely to be available for less than the initial reported fee, as point deductions are potentially discretionary

Offers less than the initially reported £30 million are likely to be considered for the sale of Sheffield Wednesday.

This is according to a report from the Sheffield Star, which suggests that this update may lead to more than one formerly interested party returning to the running.

Christmas Eve marks two months since the Owls were placed in administration by Dejphon Chansiri, as a result of a £1.7 million winding-up petition given to him by HMRC.

Begbies Traynor has been overseeing operations since then and has stuck by their demands for a £30 million fee, as failure to reach that price tag would have seen Wednesday docked 15 points at the start of next season.

But the Star has revealed that said deduction may be "discretionary," and lower offers may have to be considered now, as interested parties have struggled to hit that £30 million target.

Sheffield Wednesday may be available for less than £30 million, and a points deduction may not materialise

While interest in buying Sheffield Wednesday was initially high, many parties have fallen by the wayside as a result of a seemingly unattainable price tag.

On November 28, it was reported that the takeover tussle would feature six bidders, and then three remained in an update in mid-December.

Of those three, Mike Ashley had reportedly offered below the £30 million asking price, James Bord dropped out over concerns about further funding and satisfying the EFL's owners test, and while the Storch family have made a bid, it's unknown how they will properly fund things after John McEvoy dropped out.

Therefore, the Sheffield Star has reported that administrators may now be open to accepting less than the reported price tag, with offers of around £15 - £20 million now set to be considered.

It's led us to believe that this may result in a hefty 15-point deduction for Sheffield Wednesday next year, as a result of the failure to pay a quarter of the unresolved debt to creditors, which includes former owner Chansiri.

However, there's now a belief among interested parties that this deduction could be discretionary in terms of timing and whether it is implemented at all, as no precedent of this punishment exists, and no one has been able to confirm whether it is the case.

A few years ago, football financial expert Kieran Maguire stated that "where a Club seeks to exit administration without pay (or committing to pay) the Minimum Dividend, the Club will be subject to a deduction of 15 points, such deduction to take effect at a time to be determinded by the Board in its absolute discretion, but ordinarily at the commencement of the Season following the Season in which the Insolvency Event occured".

Therefore, interested parties are seemingly prepared to secure the club for a cut-price, and appeal any future deductions and potentially chance not getting any at all.

And if they do, the Star believes that those interested are prepared to invest in the squad with the money that they have saved from the purchase.

The initial target of December 5 to decide on a preferred party has long passed, and it's looking increasingly likely that the takeover of Sheffield Wednesday may be delayed even further into the new year.

If the administrators are now looking to entertain offers of between £15 and £20 million, then other parties who were seemingly priced out by the £30 million price tag will poke their heads in once more and look to reignite their interest.

The latest statement from Kris Wigfield on December 19 acknowledged the frustration with a lack of communication thus far, but revealed that the administrators were making "genuine progress" in identifying a preferred bidder.

Whether this preferred bidder is someone willing to pay above or below the £30 million target is yet to be known, but it gives hope and optimism that Wednesdayites won't be waiting for too long into the new year for their new owner to be revealed.

Then, if the offer is below the initial asking price, they'll be holding their breath to see how many points they'll be starting on next season in their first full campaign under new ownership.