What the Independent Football Regulator has said about Sheffield Wednesday's preferred bidder | OneFootball

The IFR has made contact with the Owls' preferred bidder as supporters await news of a takeover at Hillsborough.

The Independent Football Regulator (IFR) has revealed that they have been in contact with the preferred bidder at Sheffield Wednesday, as their hunt for a new owner continues.

It's been over four months since Dejphon Chansiri downed tools at Hillsborough and left the Owls in administration, and with relegation closing in for the South Yorkshire outfit, supporters have only one question on their minds: Who will complete a takeover of the club?

Henrik Pedersen's side are rooted to the bottom of the Championship table, and they are currently on -7 points having had 18 deducted earlier in the campaign, and they are almost guaranteed to break the record for the earliest relegation in the division's history.

Nevertheless, with such a substantial focus on the situation off the pitch, the IFR has spoken out about the situation at Sheffield Wednesday.

Independent Football Regulator urges all parties to come to quick conclusion at Sheffield Wednesday

The Football Governance Act became law in July, and they have been able to use the IFR have been able to use their powers since December to intervene against owners of football clubs, while also monitoring situations like the one unfolding in S6.

Now, with fans still awaiting a takeover, the IFR has released a statement regarding conversations with a preferred bidder at Sheffield Wednesday. They said: "We are engaging with representatives of the preferred bidder and the administrators, seeking further clarity in relation to their intention to purchase Sheffield Wednesday Football Club.

"The preferred bidders would need to satisfy the EFL test which is currently live. However, if the transaction is not complete by May, the bidders will need to satisfy the IFR’s test. The last thing Sheffield Wednesday fans want is a long, drawn-out process which further destabilises the Club.

"We don’t want to be having to engage with the bidders for the first time when our powers to assess new owners and directors come online later this year. We are unable to comment further at this stage."

Derby County are proof of just how long administration can last at a club

While it has felt like an eternity since Chansiri left the club and put Sheffield Wednesday into administration, they will be extremely fearful of finding themselves in a situation like Derby County did in 2021/22.

Mel Morris left the Rams in September 2021, and it took until the following July for David Clowes to purchase the current Championship side. However, it must also be stated that the East Midlands outfit were fighting for survival in the second tier, and there was uncertainty around which division they would find themselves in.

Sheffield Wednesday will already be preparing for life in League One and this will make this part of the negotiation easier. Nevertheless, supporters, players, club staff and the IFR are keen for the club to be rescued as soon as possible, with the Owls still losing money each month.

Any further delay will be extremely frustrating and the IFR may have to intervene if a deal is not secured with the preferred bidder by May.