'That's reassuring' - Fresh reaction given to Sheffield Wednesday financial update as takeover rumbles on | OneFootball

FLW's Sheffield Wednesday fan pundit feels that everything will work out, despite recent reports stating that the club is losing £1 million a month

This article is part of Football League World's 'Terrace Talk' series, which provides personal opinions from our FLW Fan Pundits regarding the latest breaking news, teams, players, managers, potential signings and more…

All Sheffield Wednesday fans want to hear currently in the news is progress regarding their ongoing takeover, so to hear that the club are still undergoing financial losses each month has created some frustration and uncertainty.

Joint administrator Kris Wigfield revealed that, due to "the seasonal nature of football revenues," Sheffield Wednesday is losing around £1 million per month.

Despite this not actually resulting in an annualised loss of £12 million, given the timing that certain income is made available, it's still not a nice thing for Wednesday fans to read, especially given the exodus of remaining first-team players this past January to help free up some money.

Club legend Barry Bannan, who was earning an estimated £7,500 per week, left for Millwall, while the Owls recouped a seven-figure fee for academy product Bailey Cadamarteri when he signed for Wrexham.

Despite this, it's still bad news coming out of the Wednesday camp in terms of finances, and, with a takeover still yet to be completed, despite it being over a month since the administrators went exclusive with a consortium widely reported to be led by James Bord, some Owls fans are becoming concerned once more.

However, FLW's Sheffield Wednesday fan pundit, Patrick McKenna, is staying calm, knowing that the takeover process cannot be rushed, and, once it is completed, the club should be looking upwards once more.

On the basis of things, Sheffield Wednesday continuing to lose around £1 million per month can be a cause for concern.

But McKenna is choosing to remain calm, believing that things won't be as bad once certain revenues come in, and he has faith that the new owners, when they do come in, will continue to cover losses, as they are doing now.

"Regarding the news about the club losing £1 million monthly, at first, it may seem like an alarming headline. But, the administrators have come out and given a calm and reasonable explanation, and it isn't a £12 million annual loss, so that's reassuring," he said.

"Plus, the proposed new owners are covering losses, so, yeah, while fans will want a takeover to be completed, I don't think things are as bad as they may seem, with headlines like that."

Evidently, people want a takeover done as soon as possible, and given the pain that Wednesday fans have had to endure over the past few years, they're clamouring for some good news on that front.

However, these things take time, and McKenna would rather that the correct due diligence is taken out to ensure that the club falls into the right hands.

"It's important that we get a takeover done, but it can't be rushed. Everything has to go through the proper checks, and if it takes a few more weeks, then so be it," he continued.

"With how much our fans have gone through, nerves and impatience are understandable, but we are going to have to wait, and I think that the takeover still seems on course."

"The administrators seem happy enough with them, and they're currently going through EFL checks now.

"The fact that they're willing to cover losses now, and have already spent money on the stadium...if they weren't serious, I'd be worried, but at this stage, let's see this process completed, and hopefully that'll bring others who can bring a bright future to Sheffield Wednesday."

Sheffield Wednesday fans can't wait for some good news, but they must be patient

It's been bad news after bad news so far this season for Sheffield Wednesday, even to the point where the announcement that Dejphon Chansiri had placed the club into administration was bittersweet, as it resulted in a hefty points deduction.

Therefore, as McKenna mentioned, you can't hold it against Wednesdayites for being a little impatient with the ongoing takeover process, as they're just wanting something to look forward to.

The enjoyment of football has been torn out of Hillsborough this season, with an already depleted squad in the midst of an injury crisis failing to even score regularly, let alone win games. Their relegation to League One will be confirmed in the coming weeks, and the likelihood of them finishing on a positive points tally is increasingly slim, too.

The focus should be on bouncing back immediately next season, but with the takeover still in the balance, it won't be until it is completed that they'll be able to do that.

Therefore, the news of new owners coming in couldn't come soon enough. The reality is, though, that it may be another few weeks, or maybe even a month, until that news does surface.

For Wednesday to progress out of this dark time, they need the right man at the helm. If that means having to wait even longer, then it's something they just have to deal with currently.