Sheffield Wednesday are still looking for new investors as we go into the early months of 2026, with the Owls continuing to garner significant interest following the latest takeover twist at Hillsborough.

Wednesday has been under the hands of joint administrators Begbies Traynor since October 24th, having being thrown into administration by controversial previous owner Dejphon Chansiri.

The Thailand-based businessman’s 10-year tenure as chairman at Hillsborough proved to be exceedingly turbulent, and supporters anticipated that his departure would pave the way for a new and far more positive period to begin as soon as possible in Season 6.

However, fast-forward a few months, and it still remains to be seen who will be investing their funds into the Steel City club, who, on the pitch, suffered the earliest-ever relegation in the history of the EFL last week in the cross-city derby with Sheffield United at Bramall Lane, with an overall 18-point deduction throughout the Championship season effectively condemning the Owls to League They will play one football game next season while still being minus points with 12 games remaining.

Meanwhile, it looked for long time that a consortium led by ex-poker player James Bord would take over the Hillsborough boardroom after being granted preferred bidder status on December 24th, ahead of the Storch family and Mike Ashley.

However, earlier this week, it was disclosed that the consortium withdrew from the process despite lodging a £47.8 million offer, with the sourcing of funds – via the gaming and crypto-gambling industries – and the bid’s general complexity causing significant concerns.

As a result, the Storch family and Ashley have been able to re-establish contact with the club’s present administrators, who have now announced when they would like to see official offers made by those ready to move Wednesday forward.

potential timeline update comes on potential proposals for Sheffield Wednesday purchase.

Prior to the revelation of the Bord-led bid’s collapse on Wednesday afternoon, it was claimed that David Storch remained optimistic about securing a takeover deal, having previously attempted to join forces with fellow interested bidder John McEvoy in December.

Meanwhile, Ashley has been widely connected with a purchase of the South Yorkshire club, four and a half years after selling out at Newcastle United for £305 million to the Saudi Arabian Public Investment Fund.

The 61-year-old previously made an unsuccessful £20 million bid in November, but it is now claimed that he is attempting a deal that would remove a 15-point penalty at the start of next season for failing to exit administration in the desired manner, and could be worth around £100 million.

In a new update, Alan Nixon has reported that the Owls’ joint administrators want to see proof of new bids being officially lodged by the end of next week.

The next preferred bidder will also be expected to put a non-refundable deposit, as was the case with Bord’s proposal, which resulted in him losing £4 million and ensuring the players’ wages would be covered until the end of the season, but funds after that timeframe is thought to be running low.

Nixon has also alleged that Ashley is’moaning’ about the 15-point penalty as he attempts to compete with the Storch family, while other bidders have been alerted, with hopes that a £16 million number may be met.

Sheffield Wednesday need a resolution to takeover saga ASAP

At this point, fans will be relieved to know that the administration are working to rectify the issue as soon as possible, having indicated publicly in midweek that the procedure did not have to be restarted.

With Henrik Pedersen and his players having something to play for in the coming weeks, it’s no wonder that takeover-related talk will dominate headlines as the club looks to start new for next season, which will be their first in the third tier since 2023.

The key reason for this, as well as new investment, will be whether the club is confronted with another 15-point disadvantage, which would have an impact on Wednesday’s goals for next season on the field.