Sheffield Wednesday’s position remains fragile since the acquisition process is still ongoing.

They’ve been in administration since October 24th, and while a preferred bidder was nominated for the club on Christmas Eve, no purchase has yet been approved, and time is running out before the January transfer window closes.

Within this time frame, Wednesday fans’ main fear is that they will lose even more players to their rivals. Their roster was already down to the bare bones before their injury situation deteriorated to the point of crisis, and they can’t afford to lose the players who’ve persevered with them through what’s been a painful season so far, both on and off the field.

However, the rumour mill has been turning, and emphasis has shifted to one of their most dreaded scenarios: losing club captain Barry Bannan. According to Sky Sports’ Keith Downie, Millwall, Stoke City, and Preston North End, as well as two unknown Scottish clubs – one of which has now been revealed to be Motherwell – are interested in signing the midfielder before the January transfer window closes.

Cautious optimism that Barry Bannan will stay at Hillsborough after the January transfer window.

According to Football League World’s resident Sheffield Wednesday fan pundit Patrick McKenna, Bannan is unlikely to leave this month.Patrick informed FLW that he does not believe Bannan will leave the club.I’ve previously mentioned that I believe he will remain with us until the conclusion of his career, when he will take on a coaching role with us. Of course, now is an excellent moment for clubs to look into signing him on the cheap. I understand that, and I see where the rumors are coming from.”

But Patrick understands how devastating the captain’s exit from Hillsborough would be for Sheffield Wednesday, and he feels it will be due to Dejphon Chansiri’s previous acts if Bannan decides to move elsewhere.

“If he wants to leave, yeah, it would be a massive, massive blow, with our unbelievably threadbare squad,” replied McKenna.Losing such an important player would be disastrous. He continues to be the team’s absolute pulse. He is still paving the path for us. Losing Bannan means losing more than just a player.If he leaves, it will be because he has contributed significantly to the club during the Chansiri era. I would blame the former regime for this.I don’t think it’s fair to link Bannan’s desire to depart to the present takeover. I believe that two procedures are separate. We’ll see what happens with Bannan, but I believe he won’t be heading anywhere in January.”

For Sheffield Wednesday, losing Barry Bannan would be more than just a player.

Among all of the anguish that Sheffield Wednesday fans experienced this summer, as the wheels that kept the club on track began to come free, one bright spot was being able to persuade club captain Barry Bannan to extend his contract for another year.

Bannan, 36, is nearing the end of his playing career, but his continued presence at Hillsborough – he’s close to 500 appearances for the club – has been a stabilising and calming influence on a club that has been going through arguably the most difficult period in its history.

Wednesday has not regretted his choice to sign the deal on drastically lower terms. His performances this season have been good and steady, and the value of his expertise in a changing room crowded with young players playing as a result of the EFL’s embargoes cannot be emphasized.

But the very leadership skills that he has demonstrated will make him a target for other clubs, so it’s not surprising that Championship rivals will be interested in trying to take advantage of Wednesday’s dismal league form – they only have one League win all season, and that came in September – to try to prise the player away from the club.

Sheffield Wednesday have the advantage of knowing Bannan has only half a season left on his contract. It is always possible for a player to have his head turned, but this is a player who has demonstrated tremendous loyalty to the club over a long period of time, and the interest of other clubs may land differently with a 36-year-old than it would with a younger player looking to advance their playing career.

With only six months remaining on his contract, and given Barry Bannan’s history of commitment to Sheffield Wednesday, it seemed unlikely that the player would be persuaded away from Hillsborough at this point in his career. But it will not deter rival teams from attempting to lure him away from them.