Why the EFL have power to speed up Sheffield Wednesday takeover once preferred bidder is chosen | OneFootball

Sheffield Wednesday have been told when the takeover process could be completed

The EFL can speed up the takeover process at Sheffield Wednesday in order to have a new owner in place in time for the new year.

According to The Star, the league organisers can accelerate the process of ratifying a change in ownership if the proposed buyer will pass the owners and directors test.

A number of names have been linked with a takeover of the Championship side since they officially went into administration in late October, including Mike Ashley.

Dejphon Chansiri’s time in charge of the club is over following his significant mismanagement of the Yorkshire outfit’s financial situation.

However, Sheffield Wednesday were handed a 12 point deduction penalty by the EFL as a consequence of going into administration.

EFL can speed up Sheffield Wednesday takeover process

It’s been reported that the EFL have the ability to speed up the takeover process once a preferred bidder is selected.

Begbies Traynor have been appointed as administrator to find someone to purchase the club, with the soft deadline for opening bids being set for 21 November.

It is hoped that a preferred bidder could be named by 5 December, with the process then needing to be ratified by the EFL to be made official.

This process can typically take up to six weeks, but it’s believed that the EFL can accelerate the finalisation of the purchase of the club as long as the owners and directors test requirements are satisfied.

It has been claimed that Sheffield Wednesday have the funds to continue into the new year, with wages expected to be paid on time, but supporters will still be keen to see a takeover be completed as quickly as possible.

The Championship side are still under a registration embargo, so will not be able to sign new players when the January market opens, but a change in owner should see Henrik Pedersen be allowed to complete free agent and loan signings.

A new owner before 2026 would be a great start to the new year for Sheffield Wednesday

Moving on from the Chansiri era this quickly after going into administration would be a great outcome for Sheffield Wednesday.

It’s been a difficult 2025 for the club, but supporters can now going into 2026 with some optimism again, even if relegation is still a near-certainty at this point.

That the players and staff can have some security regarding their wages going into December is also a huge relief given the difficulties they’ve had this year in being paid on time.