Ten parties have provided proof of funds to the administrators handling Sheffield Wednesday as interest in buying the club continues, BBC Radio Sheffield understands.
A second potential buyer was shown around Hillsborough on Monday after an initial tour last Wednesday. Administrators have set a soft deadline of Friday 21 November — 28 days after the club entered administration on 24 October — for offers to be submitted. That will be followed by a two-week negotiation period, with a target date of Friday 5 December to identify a preferred bidder. Any purchaser will then need to pass the EFL’s fit-and-proper test and complete due diligence before a deal can be finalised.
Wednesday sit bottom of the Championship on minus four points after an automatic 12-point deduction for entering administration. They face local rivals Sheffield United on Sunday 23 November.
Administrators had expected “double figures” of parties to show proof of funds for a sale pegged around £50m, but showing funds does not guarantee an offer. There is significant work to be done at the club: Hillsborough will require substantial investment and potential owners must accurately assess the costs of the stadium and wider infrastructure to bring the club in line with peers.
Kris Wigfield, one of the administrators, said they would be frank with interested parties about the scale of work needed, to try to secure the best long-term owner. With relegation to League One a real possibility, any takeover is likely to be a long-term project rather than a quick fix. Fans will hope a buyer emerges who can combine funds with a clear plan — as seen at other clubs where rapid change followed focused investment — to realise the substantial potential at Sheffield Wednesday.
