When a preferred bidder at Sheffield Wednesday could be announced | OneFootball

Sheffield Wednesday is hopeful that a preferred bidder can be announced shortly

Sheffield Wednesday's full focus between now and the end of the campaign is to ensure that a new owner is in place ahead of a summer rebuild.

The Owls have been relegated to League One, with their position at the bottom of the second-tier table likely to be confirmed following the upcoming midweek set of fixtures. With 10 games remaining, the only thing left to play for is pride.

Therefore, it's unsurprising that, now more than ever, the attention is on who will be the new owner going into the new campaign.

Sheffield Wednesday have been in administration for over four months, now, after Dejphon Chansiri's decade-long stint as owner finally came to an end in October. It looked like a consortium led by James Bord was going to take over, but he pulled out in late February, after reports stated that the £47.8 million bid he launched was no longer justifiable.

Now, the Owls are back to square one, but reports from the Sheffield Star have stated that progress was being made with other interested parties, namely Mike Ashley and David Storch, while a 'mystery bidder' is also involved.

When may we see a preferred bidder being announced at Sheffield Wednesday?

According to the Sheffield Star, there is hope that there could be a new preferred bidder at Sheffield Wednesday by the end of the week.

However, it has to be stressed that the process of naming a preferred bidder isn't as simple as picking whoever has bid the most money, and there are numerous other aspects that have to be considered first.

The report states that certain structures of the offer, the money made available for the immediate future and the speed at which the EFL can pass them as a fit and proper owner via the Owners' and Directors' test are all considered.

Sheffield Wednesday is spending £1 million a month currently in administration, so choosing someone who would incur another lengthy EFL check, which was the case with James Bord, may not be the right call, and neither would someone who wouldn't guarantee that money will be available to rebuild sufficiently in the summer.

It's not a case of who has bid the most, and ultimately, the preferred bidder will be the person who has tabled the best offer when taking into account all aspects.

Sheffield Wednesday cannot afford another failed preferred bid this time round

You'd expect that even more time and care is being taken by the administrators at Sheffield Wednesday currently, as they strive to avoid a repeat of the James Bord situation.

As we've seen, being named a preferred bidder doesn't mean that the takeover is done, and the Owls will be hopeful that the next person to enter exclusivity will see the deal through.

Wednesday can't afford to mess around with prospective owners who will flag up discrepancies and add extra checks when it comes to the Owners' and Directors' test, nor can they bring in someone who will insufficiently fund the club.

Additionally, there can only be so many opportunities for someone to buy the club before they lose interest. If the next preferred bidder isn't successful or pulls out once again, the likelihood that the interest will be as rife as it still was in late February may be rather slim.

Hopefully, a preferred bidder can be named by the end of this week. However, if another week or two is added to that ensures that the right party can be chosen, then there'll be few complaints.