Sheffield Wednesday have taken a decisive step towards securing their future, with administrators confirming the selection of a 'preferred bidder' to purchase the crisis-hit club.
A Consortium Emerges as Frontrunner
The move follows a period of intense speculation, during which former Newcastle United owner Mike Ashley was understood to be a leading contender. However, the administrators, Begbies Traynor, have now signalled their intent to move forward with a different consortium after concluding the initial bidding phase.
In a statement released on the club's official website, joint administrator Paul Stanley outlined the decision. "Sheffield Wednesday can confirm that the administrators, Begbies Traynor, intend to grant preferred bidder status to a consortium following the conclusion of the initial bidding process," he wrote.
Due Diligence and a Disastrous Predecessor
Stanley emphasised that the choice was not made lightly. "The decision to move forward with a preferred bidder has been taken following extensive financial, legal and forensic due diligence, supported by specialist advisors," the statement continued. This rigorous process included a deep dive into the consortium's funding sources, ownership structure, and governance.
The club was plunged into administration in October 2025, finally ending the tumultuous reign of former owner Dejphon Chansiri. The financial collapse under his stewardship has had severe sporting consequences.
A Mountain to Climb On and Off the Pitch
On the field, the Owls face a seemingly impossible battle against relegation. As a result of entering administration, the club was automatically docked 12 points by the English Football League (EFL). A further six-point deduction was later imposed, leaving the team stranded on -9 points in the Championship table.
The identity of the preferred consortium has not been officially disclosed, though it is believed to be a group led by Americans John McEvoy and the Storch family, who were previously named as rivals to Mike Ashley's bid.
The appointment of a preferred bidder marks a critical milestone in the club's fight for survival. It allows for exclusive negotiations to finalise a sale, offering a glimmer of hope to fans for a more stable future, both financially and in the footballing sense, despite the daunting task ahead in the league.
