Sheffield Wednesday have lost 13 straight Championship games and are on track to break the EFL record for most consecutive league losses. However, their primary goal remains to locate a new owner.

The Owls were trounced 2-1 by Derby County on Saturday afternoon, leaving them with -7 points after 36 games, their most recent point coming in a 0-0 draw with Blackburn Rovers at the end of December. Nonetheless, supporters remain unconcerned about the scenario on the pitch.

Instead, this week is significant for those at Hillsborough who are not involved in the on-field action, and supporters are hoping to learn something important as the quest for a takeover continues in S6.

Following a hectic weekend, Football League World has looked at the latest developments involving a takeover of Sheffield Wednesday.

Sheffield Wednesday may announce a new preferred bidder shortly.

Following the failure of a consortium led by James Bord to complete a sale last month, there has been a surge in interest in the club, with fans eager to learn who the preferred bidder would be. However, no further information has been released about the situation as of yet.

Nonetheless, The Star reports that there is a lot of anticipation around the club right now that one of the interested parties will get exclusive rights by the end of the week, allowing for more negotiations in the coming weeks and months.

While that information may be thrilling for fans, there is no assurance that the preferred bidder will be identified, as bids for the club were submitted over the weekend.

If no buyer is found, the administrators must demonstrate that they have the funds to fund Sheffield Wednesday beyond the end of the season or risk expulsion from the EFL.

Mike Ashley’s proposal is far lower than the other interested parties.

It has been well publicized in recent months that Mike Ashley is interested in purchasing the Owls and rescuing them from administration, but it was revealed on Sunday that the former Newcastle United owner is bidding much less than his competitors.

This is a strategy that the English businessman has used in the past, as he failed to buy Derby County in 2022 while the Rams were also in administration. However, David Clowes took over the club, and he has done an excellent job rebuilding the East Midlands outfit.

Nonetheless, Alan Nixon reported over the weekend that Ashley is attempting to out-negotiate his rivals, and with the redevelopment so extensive, he will need the cash to help pay it if he is successful in his bid to buy the Owls.

However, he may be disregarded once more as Sheffield Wednesday search for a new owner as soon as possible as they prepare to return to League One.

Sheffield Wednesday appear on track to be issued a fresh points deduction in 2026/27.

If the Owls are to escape a 15-point deduction next season, the next owner must buy the club at the 25p to £1 ratio. However, if they do not match that, they will avoid paying a portion of the additional funds to Dejphon Chansiri and other non-football creditors.

With all bids in, Nixon has revealed that if Sheffield Wednesday’s new owner submits an offer in the latest phase of the bidding battle, the club would begin the 2025/26 season with -15 points.

This would make their ambition of not just achieving a top six finish in League One nearly unattainable, but also the major goal of merely staying in the division and rebuilding from there.

A deposit to help fund the club in the meantime appears to be the key to any successful bid, with the administrators in desperate need of quick cash as they look to continue running Sheffield Wednesday while a new owner is found, but the situation on the pitch may be extremely difficult following this update.