New Sheffield Wednesday takeover update shared - why administrators won’t be “rushing” revealed | OneFootball

Sheffield Wednesday's administrators won't rush into naming a preferred bidder as they confirmed talks are ongoing with potential buyers.

The administrators involved with finding a new buyer for Sheffield Wednesday insist they won’t be rushed into naming a preferred bidder, as they insist the club is set for a ‘positive’ future.

The Owls entered administration in October, ending Dejphon Chansiri’s disastrous time in charge of the club. That brought a 12-point deduction, and with Wednesday having been hit with a further six-point penalty since, it means relegation to League One is inevitable.

However, the one saving grace for the supporters has been the possibility of a takeover, and it had previously been reported that a preferred bidder would be named by December 5th.

Sheffield Wednesday administrators will take time to find the right buyer

Yet, in a fresh update shared on the club’s website, administrator Kris Wigfield confirmed that the process to name a preferred bidder is ongoing.

He explained that setting the initial deadline was designed to ‘create momentum’, which Wigfield claimed they have done.

Crucially, he also added discussions with several parties ‘remain active’, as they look to ‘maximise returns to creditors’ and to ‘secure the right long-term owner for Sheffield Wednesday’.

Wigfield stated that the level of interest is ‘extremely positive’ for the Owls’ future, so they will remain in dialogue with potential buyers in order to find the right successor to Chansiri.

Sheffield Wednesday fans will be prepared to wait for the right owner to come in

Firstly, it’s very good that the administrators are regularly updating the fans about the situation, as it will cool speculation and it ensures they know the state of play.

Sadly, given Wednesday’s situation on the pitch, there is no real need to rush to get a new owner in place as long as they can continue to operate financially in the meantime.

They know they will be playing in League One next season, so it’s not like they need a new owner in place to attack the January window as they look to stay up.

Clearly, the only concern is the bigger picture, and the fans will understand that you can’t just rush through something like this.

Instead, the administrators will be in talks to find the right buyer, and to find the right deal that can help the club both in the short-term and moving forward in the years ahead.

So, whilst there will be some disappointment that they didn’t get a name, the wording in the update does offer plenty of hope that the dark days are now over for Wednesday as they wait for their new owners to come in.