When Sheffield Wednesday could have a preferred bidder in place for Owls takeover | OneFootball

Sheffield Wednesday are in the process of seeking new owners after going into administration

Sheffield Wednesday are in search of new owners after going into administration under Dejphon Chansiri.

Begbies Traynor have been appointed to oversee the immediate future of the Owls, as they seek to raise the funds that will appease their current creditors.

Supporters will be keen to see a fresh face replace the Thai businessman at the helm of the Championship side given the financial mismanagement he’s overseen through the years.

The Yorkshire outfit are currently bottom of the second division table, and a 12 point deduction penalty was handed to them as a consequence of going into administration, which has made the threat of relegation even greater.

Here we look at when a preferred bidder might be found to take over Sheffield Wednesday from Chansiri…

Sheffield Wednesday takeover process timeline

It’s been reported by The Star that initial offers to buy Sheffield Wednesday could be submitted as early as this week.

It’s also been claimed that the next two weeks will see bids made with a soft deadline of 22 November for interest to be made clear.

The Owls will take on their bitter local rivals when they return to action after the upcoming international break on 23 November.

Henrik Pedersen’s side have struggled for results this season, but Sheffield United haven’t fared much better since losing the play-off final in May.

Chris Wilder’s team are 22nd in the table, just two places above Sheffield Wednesday, and the negotiation process will be well underway by the time the two sides meet later this month, with it being hoped a preferred bidder can be named by 5 December.

It remains to be seen who will be named as that preferred bidder, with co-administrator Kris Wigfield refusing to give any details on the takeover process.

However, a number of names have been linked with the purchase of the Championship club in recent weeks and months, meaning there should be no shortage of available options.

The cost of purchasing Sheffield Wednesday

It’s been claimed that Begbies Traynor are seeking the proof of funds up to £50 million in order to open talks about buying the club.

Up to 10 interested parties are believed to have already reached this landmark, indicating that a takeover of Sheffield Wednesday should be straightforward.

It will be massively encouraging to supporters that so many parties are keen to take over the Owls despite the financial mismanagement they’ve endured under Chansiri.

The likes of Mike Ashley and John Textor have previously been mentioned as possible buyers, although no front-runner has yet emerged at this stage.

It was claimed as recently as September that Chansiri was seeking up to £100 million in order to sanction the sale of Sheffield Wednesday.

But the £50 million proof of funds figure is a much more realistic valuation of the club at this moment, which would explain the massive increase in interest in a takeover since going into administration.