Consortium named 'preferred bidder' to take over Sheffield Wednesday
The future of the troubled Championship club has been up in the air since the Owls went into administration in October
The administrators of Sheffield Wednesday have announced they intend to grant preferred bidder status to a consortium.
The future of the troubled Championship club has been up in the air since the Owls went into administration in October, with Begbies Traynor revealing earlier this month a delay in naming a preferred bidder to allow for further discussions.
That initial process has now concluded, with a statement from joint administrator Paul Stanley saying the chosen consortium had submitted the strongest proposal, including clear financial assurances and a structure to meet creditor obligations.
Former Newcastle owner Mike Ashley has been heavily linked with a takeover, and Stanley said: "The consortium also brings existing experience in football ownership, including majority and minority interests in clubs operating within regulated league systems."
The deal will be subject to EFL approval, including meeting the owners' and directors' test.
Wednesday sit bottom of the Championship table on minus nine points having already been docked 18 points this season.