Sheffield Wednesday administrators expect further proposals for the club to arrive today, bringing the total number of formal bids in the sales process to’six or seven’.
Interested parties have submitted proposals to buy the club in the days following a’soft deadline’ of November 21 for indicative offers, a milestone aimed to inform a negotiating stage of the process that they believe would result in a ‘preferred bidder’ in the first week of December.
Last week, joint-administrator Kris Wigfield said that offers for land after that deadline would be considered, and over the weekend, he confirmed that bids were expected today based on contacts with interested parties.
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It was also confirmed that the strength of the offers submitted were sufficient to satisfy the club’s creditors, who were estimated to be worth around £30 million. If an offer of this sort is successful and payments are made, the club will not be subject to the 15-point deduction for next season that supporters have been concerned about.
Wednesday are operating under a 12-point deduction, and two additional points deductions for violations of EFL regulations remain – but these are expected to be deducted from this season’s score.
Wigfield, a lifelong Wednesdayite, told BBC Sheffield before of the Owls’ 3-0 derby defeat to Sheffield United: “We’ve received offers, and they’ve been nice ones. We expect two more proposals to come in on Monday, and then we’ll be attempting to go from the point where we have six or seven parties that have made offers to one preferred bidder. As administrators, we are confident right now because of the number of offers that have come in.
“These will allow us to fulfill our obligations to pay the creditors at 25 pence per pound, ensuring that the club will not face any more consequences. Furthermore, as a Wednesday fan, I’m enthused about the individuals behind those bids.”
Along with the progress made in repairing supporter relationships with the club and in terms of’small win’ structural changes, administrators, with the assistance of supporters with expertise in various fields, have produced a report on short-term and medium-term fixes that can help the club moving forward. The report is being prepared with the goal of providing the next owners with a solid foundation to get started.
The club’s administrators have made it clear throughout the process that they are unable to comment on the identities of parties involved in the bidding process. However, amid ongoing rumours online that the US-based Walton-Penner group is making moves for Wednesday’s acquisition, Wigfield confirmed unequivocally that they are not one of those parties.
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“Obviously I don’t want to speculate on individual buyers, but this one has had so much attention that I think it’s only right just to tell the fanbase it’s got absolutely no foundation whatsoever,” said the executive producer. “As far as I can tell, the club has never had touch with that family, and neither have we, as administrators.
“I just want to eliminate that one, because whomever comes in and buys it will have a severe PR issue with the fans because competing with one of the world’s ten wealthiest families will be impossible for anyone. That rumour has no foundation at all.
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