Sheffield Wednesday have passed the 100-day mark in administration, and the takeover process is still proceeding.

A preferred bidder was identified in December, but the EFL has yet to ratify the agreement.

James Bord’s group won the bargaining process, which began in October, but it remains to be seen whether the EFL will accept their offer to buy the Owls.

Mike Ashley and the Storch family were among those participating in the negotiations to determine who would buy the Championship side from Dejphon Chansiri.

Here’s the latest news on Sheffield Wednesday’s takeover predicament…

Chris Waddle’s takeover worries

Chris Waddle has expressed concerns about how long it is taking the club to complete the takeover process, claiming that it is eventually affecting their ability to prepare for next season.

He sympathised with Sheffield Wednesday fans who are still waiting for a firm response on the club’s ownership.

“Let’s be honest, it’s about next season,” Waddle told The Star.

“It’s about never giving up, displaying your discipline and pride, and going about your business with everything you’ve got.

“The supporters have rallied behind them, away fans continue to visit in large numbers, and the question is what will happen next season.

“The irritating issue is that no one has taken over the club yet.

“It goes on and on.

“The season is over, but I expected by now to be looking for new owners and getting the team ready for the following season.

“The longer it goes on, the more planning for the following season is put on hold.

“It’ll be a big season and you have to be ready.”

Waddle has stated that prospective new owners will not want to be kept waiting too long before they can begin work on developing a club capable of challenging for promotion next season, thus the longer this drags on, the greater the concern.

“We know they’re relegated, so they have to bounce straight back,” the manager said.

“You do not want to be sitting in that league.

“New owners will aim to get right back into the Championship, competing for a spot in the Premier League.

“It’s all about becoming organized, but it’s difficult to accomplish when you don’t know where you are or who will end up joining the group.

“It needs to be sorted.

“We know who it could be, but there’s no definite.”

Henrik Pedersen’s free agent claim

According to Henrik Pedersen, Yan Valery’s abrupt move to Young Boys has created an opportunity for the Owls to sign a free agency player.

Following the right-back’s departure to the Swiss team, the Dane has told supporters that the club is working as hard as possible to fill out the roster to the best of their ability.

“We can bring in a free transfer player right now, so we’ll start looking,” Pedersen told The Star.

“We also understand how difficult it is to locate players in this sector right now.

“We are doing everything that we can.

“Now the game is done, we will put a lot of energy into finding a player who can come in and help us.”

Valery was reportedly one of the highest-paid players in the Sheffield Wednesday squad, and his departure has freed up a significant amount of space on the first-team salary bill.

Sheffield Wednesday issued a warning to Mike Ashley.

The Times claimed earlier this month that the Storch family and Ashley are both waiting in the wings to buy Sheffield Wednesday if Bord’s offer is not approved by the EFL.

When asked about the possibility of any party moving further with the takeover process, FLW’s Owls fan analyst Patrick McKenna said it wasn’t worth worrying about just yet.

He has advised supporters that their efforts should be concentrated on supporting Bord’s offer until they hear differently.

“I’m not really going to put my energy into thinking about them,” McKenna told Football League World.

“At this point, I’m just going to support the preferred bidder.”

“At the end of the day, these are the guys who placed the highest bid; they outbid Ashley and Storch, therefore they have the right to move forward in the process.

“So, as fans, we’re waiting to see how this James Bord consortium goes, and I’m hope it goes through so we can see their ideas and have some closure on the process.

“Because I know there are checks to go through, but I just want the administrative process to be completed.

“At the end of the day, Ashley and Storch claimed we were in the same bidding process, and the rules were the same, but they refused to pay enough to avoid a 15-point deduction.”

“I believe that is quite telling, so we all know what Ashley is like.

“Of course he’s going to be hanging about, looking to get it on the cheap, and for some reason fans seem to be backing this approach.”

Sheffield Wednesday’s relegation could come before the EFL’s takeover decision.

If the EFL continues to procrastinate on a judgment on Bord’s attempt to acquire Sheffield Wednesday, the club may be relegated before a change in ownership occurs.

The Owls were docked 18 points this season for several rule violations, leaving them with a total of minus seven points.

The gap to safety is currently 39 points, with only 15 games remaining, implying that the Yorkshire club might be officially relegated this month.

A defeat to Millwall this weekend would almost certainly cement their fate, especially if Leicester City beat Southampton on Tuesday evening.

However, their position in the bottom three is unlikely to be formally determined until 22 February, when they face bitter rivals Sheffield United.

If their losing streak continues over the next two games, Leicester will be relegated to League One with a single point against the Saints and Stoke City.