When Sheffield Wednesday fans might finally know who their next owner will be | OneFootball

The Owls’ preferred bidder announcement pushed back as takeover race intensifies

Sheffield Wednesday’s long, bruising descent took another turn this week, with a further six-point deduction confirmed by the EFL and former owner Dejphon Chansiri banned from holding any role at an EFL club for three years.

The penalty, added to the 12-point deduction for entering administration in late October, leaves Wednesday on -10 and 27 points adrift of safety after 18 matches.

For a patched-together squad that has managed just one league win this season, the impact on their survival prospects is negligible - relegation to League One has felt inevitable for weeks.

Off the pitch, however, the stakes remain immense. Administrators Begbies Traynor had initially aimed to name a preferred bidder for the club by 5 December, but that timeline has shifted.

With the process deep into its decisive phase and six bidders now in play, Owls supporters are understandably asking when clarity will finally arrive.

Sheffield Wednesday takeover timeline shifts amid high bidder interest

The 5 December date was always described as a “soft” deadline rather than a firm commitment, set to concentrate interest rather than conclude proceedings.

In reality, the level of interest - and the seriousness of the bids - has extended the timeline. At least five formal offers for the Owls have already been lodged, with a sixth expected.

Crucially, multiple bids exceed the threshold believed necessary to satisfy EFL requirements, including the 25p-in-the-pound rule that places the minimum viable takeover price at around £30m.

Joint administrator Paul Stanley acknowledged this week that exclusivity will not be granted by the original target.

“We wanted, ideally, to go exclusive with someone by December 5,” he told The Athletic.

“But the fact that five, possibly six, people need to come and visit the stadium… that’s probably going to get pushed out another week or so.”

The Thanksgiving period slowed progress for US-based bidders, several of whom submitted information after the indicative deadline.

Administrators have made clear that they remain open to offers arriving late in the process - the overriding legal requirement is to maximise returns for creditors.

The emerging expectation is that next week is now the likely window for naming a preferred bidder.

Once exclusivity is granted, the EFL’s Owners’ and Directors’ Test and associated financial checks will begin, putting Wednesday on track for a takeover early in the new year.

Takeover decision looms large as Wednesday look toward a post-Chansiri era

The latest six-point deduction has only reinforced the extent of the damage inflicted during Chansiri’s decade in charge.

The former owner’s three-year ban, confirmed alongside the club’s sanction, means any lingering association with Wednesday’s operations has been formally severed.

“Multiple breaches” of financial regulations meant further punishment was almost inevitable, and administrators remain in discussions with the EFL regarding the fee restriction placed on the club’s transfer activity until 2027.

The takeover remains the only route out of this spiral for the supporters. And despite the club’s league position, bidders have been undeterred.

Those in the frame include US businessman John McEvoy, former Newcastle United and Sports Direct owner Mike Ashley, local entrepreneur Ryan Howsam and Danish billionaire Anders Holch Povlsen.

Administrators insist no single frontrunner has yet emerged from the group of six.

Yet even amid crisis, signs of resilience have been unmistakable. Attendances have risen since administration was announced, boycotts have ended and matchday revenue has surged. An anonymous Wednesday supporter has provided a £1m interest-free loan to cover immediate shortfalls, enabling November wages to be paid early and December’s to be met without issue.

This renewed sense of purpose has surely been noted by bidders, and by the administrators tasked with stabilising the club.

The coming week or so is expected to finally sharpen the picture, with exclusivity likely granted once the final round of stadium visits and due-diligence meetings concludes.

For a fanbase hardened by years of drift and disappointment, the wait for clarity is painful - but the next Owls owner is now closer to emerging than at any point since administration began.