Sheffield Wednesday entering 'next phase' of sale process as Kris Wigfield provides deadline clarification
Sheffield Wednesday are moving into the next phase of the sale process, administrator Kris Wigfield has confirmed.
The Owls have been fielding interest from potential investors following the ousting of Dejphon Chansiri as owner via entrance into administration.
Speculation regarding interested parties has been rife and interest is now set to turn into concrete bids.
Wigfield, one of the administrators tasked with moving Wednesday into a brighter era, has also provided clarification on talk of a deadline for those looking to buy the Owls.
Kris Wigfield issues statement
Ahead of the Steel City derby battle with Sheffield United on Sunday (November 23), Wigfield said: “There are fixtures in football - and then there is the Steel City Derby. No matter the circumstances, no matter the league position, this is the game everyone looks for the moment the fixtures come out. A noon kick-off on a Sunday doesn’t take away from that.
“As the football world watches, it is important to remember that the strength of this football club has always been its people. In these past few weeks our staff, players and supporters have reminded us of that time and time again. The addition of Liam Cooper to the group, even though it is unusual for a club in administration to be able to sign a player, will only add to the leadership and determination shown in recent weeks.
“We are also doing everything we can to help Henrik add another player to the squad. In difficult circumstances, the manager has been exceptional and we are committed to backing him wherever we can.
“Off the pitch, we continue to make improvements to the supporter experience. We have a stall at the Christmas market on Fargate, we’ve improved the range of beers, including the addition of Madri, and we also hope to introduce new products in the club shop very soon.
“As for the process of selling the club, we are now entering the next phase where initial interest turns into formal bids.
Deadline clarification - and ‘promising interest’
“There has been much discussion in the press around deadlines. To be clear: the deadline was set to drive momentum, ensure fairness and encourage bidders to move decisively - and many parties have respected that. We are grateful to those who have engaged the process and met the deadline. Some parties have also made it clear they will make offers but require a couple more days to do so and we are thankful for their communication lines.
“While the deadline is described as a ‘soft’ one, it is not without purpose. We will prioritise parties who have acted promptly and professionally, but - in line with our duties - if a substantial and credible bidder submits proof of funds after the deadline, we cannot ignore them. The key objective is to secure the best outcome for Sheffield Wednesday, and that requires both discipline and practicality.
“That said, we have received promising interest. 12 parties who demonstrated proof of funds have already been granted access to the data room. Several parties have come forward with sensible offers or assured us they will be doing so over the next few days, this is a very strong position for the club and a clear indication of Sheffield Wednesday’s huge potential.
“We will review the offers at the start of next week in the hope that by December 5 we will be able to accept a deposit and grant exclusivity, allowing the EFL’s formal checks to begin.
“Until then, thank you for everything you’ve done, and everything you continue to do. Enjoy the match - and let’s make this a derby performance that reflects everything Sheffield Wednesday stands for.”