Sheffield Wednesday takeover: State of play with latest on Mike Ashley, David Storch and 'mystery bidder'
It has been claimed there is hope of a preferred bidder for Sheffield Wednesday being selected this week.
The Owls have been in administration since October, when Dejphon Chansiri’s turbulence-ridden ownership was brought to an end.
Fans hoped a new era would be ushered in quickly and efficiently, although takeovers rarely pan out to be straightforward.
A consortium led by James Bord moved to the front of the queue on Christmas Eve, when they secured seleted bidder status.
However, their withdrawal from the process last month blew the race wide open again.
Sheffield Wednesday takeover latest
Former Newcastle United owner Mike Ashley is widely understood to have retained interest, while American businessman David Storch is thought to be back in the mix.
Over the weekend, The Star reported another party had joined the race. While no offer is thought to have been tabled by them, it has been indicated the party has signified intent to administrators Begbies Traynor.
The same publication have since reported that no one has been ruled out at this stage - although the picture could soon change.
Begbies Traynor have been tasked with securing the best deal for creditors, but reports have indicated this does not necessarily mean the highest bid must be accepted.
There is said to be several factors to take into consideration, with the best overall package likely to win the race.
Deduction possibility
It is well-documented that Wednesday will face a 15-point deduction in League One next season if the new owner does not pay creditors 25p for every £1 owed. At this stage, it does not appear any of the interested parties have shown willingness to do so.
A sanction, therefore, could give the Owls another daunting challenge in the third tier next term.
For Wednesday fans, it is stil a case of waiting with bated breath. One thing supporters are sure of is that the winner of the race to buy the club faces a huge rebuilding job.
Last week, former Manchester City adviser Stefan Borson said: “People have forgotten this is a very difficult situation to go into. They are going to be relegated.
“They almost certainly now are going to have a 15-point deduction next season as well because the lower bid is going to mean that the unsecured creditors are not going to have what they need.
“So, you’re going to have a situation where you immediately bought the club, you celebrate for about five minutes and then you realise that actually then the hard work begins. It is going to be a slog. It’s not going to be straightforward.”