Key Highlights
- Sheffield Wednesday’s joint administrator reports “four or five” serious bids for the club.
- The process must remain open for 28 days under EFL rules, with potential new owners to be in place by end of year.
- New owners will need to demonstrate financial viability and pass the EFL fit and proper persons test.
- Club is currently 16 points adrift of safety after a deduction for entering administration.
Sheffield Wednesday’s Administration: A Timeline
Kris Wigfield, the joint administrator leading the search for new ownership, announced that they have received “four or five” serious bids. This comes after Dejphon Chansiri put Sheffield Wednesday into administration on Friday.
Timeline and Criteria for New Owners
According to Kris Wigfield, there are two key criteria new owners must satisfy:
- Show that they could make the football club viable, meaning demonstrating sufficient funds to operate over the next few years.
- Pass the EFL fit and proper persons test, ensuring their suitability as new owners of a professional football club.
Wigfield, speaking on BBC 5 Live’s Wake Up to Money programme, expressed hope that by November end, they might know who would buy Sheffield Wednesday. The goal is to complete the sale before year-end so the new owner can participate in the January transfer window.
The Current Situation
Sheffield Wednesday faces a challenging situation with an automatic 12-point deduction and being 16 points adrift of safety in the Championship table. The club is still awaiting further deductions from an independent disciplinary hearing over unpaid wages, which could impact their standing.
Fan Support and Response
Despite financial constraints, fans have rallied around the club, spending over £500,000 on tickets and merchandise since Friday. The support is crucial for paying next week’s wages and maintaining the club’s operations.
Kris Wigfield, emphasized the need for ongoing fan engagement: “More tickets are going on sale for the next home games today and we need the fans to keep purchasing stuff.” This underscores the importance of community support during this critical period for the club.
Conclusion
The administration process for Sheffield Wednesday is moving forward, with a tight timeline to secure new ownership. The upcoming 28-day market window will be decisive in determining the future direction and potential improvements of the club. Fans and stakeholders alike await developments closely as Sheffield Wednesday looks to navigate this challenging time.
