Sheffield Wednesday have had a difficult time in recent months, but the South Yorkshire club may find light at the end of the tunnel shortly.

The Owls remain in administration following the departure of former owner Dejphon Chansiri, who left the Hillsborough club in financial ruin.

Henrik Pedersen’s squad is likewise certain to be relegated from the Championship to League One due to point deductions, several player departures, and poor form in the second division.

Wednesday have not won since their victory over Portsmouth in September, and they were dealt another setback when they were crushed 4-0 by Swansea City on Sunday.

Sheffield Wednesday prospective owners set up impressive names to lead the Owls.

Owls fans have long accepted that their team is bound for League One, but the Wednesday faithful are still waiting nervously for a takeover to be finalized, which will allow them to go in the correct direction once more.

Mike Ashley, the former owner of Newcastle United, is still in the running to acquire Hillsborough, despite the fact that James Bord has been announced as the South Yorkshire club’s preferred bidder.

Meanwhile, the Sheffield Star reports that Wednesday’s prospective owners have identified persons who may be hired to oversee the Owls and who ‘even sceptics’ would be impressed by.

Owls fans will dearly hope that scenario comes true, since their team’s off-field issues have contributed significantly to their nine-game losing streak across all competitions.

Sheffield Wednesday need the takeover outcome as soon as possible.

Begbies Traynor is currently in charge of the South Yorkshire side’s day-to-day operations, which is only a temporary fix for the issues caused by Chansiri on Wednesday.

Pedersen’s side cannot begin planning for next season’s League One campaign until they know who will own the club.

The manager’s future remains uncertain, as a new group of owners are expected to choose a new manager who they believe can lead the Owls ahead in the long run.

Pedersen deserves a lot of respect for taking over as manager from former boss Danny Rohl, who departed Hillsborough last summer due to financial problems created by Chansiri’s poor administration.

However, the 48-year-old has only led the Owls to one Championship victory in 31 attempts, despite the fact that several players, including club hero Barry Bannan, have left South Yorkshire in the last two transfer windows.

Bord’s Wednesday takeover is currently being delayed due to a problem in the ratification procedure, but supporters will hope that any sale of their club is completed well in advance of the forthcoming League One season, giving them every possibility of a quick return to the second division.

Meanwhile, the Owls may struggle to improve their Championship form anytime soon, as they face play-off contenders Millwall this Saturday before facing Steel City Derby rivals Sheffield United on February 22.

The South Yorkshire club’s winless streak might stretch into March, as they finish the current month with challenging games against Norwich City and Southampton.

Wednesday’s poor on-field performance exemplifies the necessity for a takeover to help turn their long-term prospects around.