Naming of preferred Sheffield Wednesday bidder delayed
The football club's administrators say they need more time for discussions
The naming of a preferred bidder for Sheffield Wednesday has been delayed.
The football club's administrators say further talks are needed after a number of 'strong and credible offers' were submitted.
On Monday the English Football League handed the Championship side a fresh six-point penalty for breaching financial rules.
Statement from Sheffield Wednesday administrator Kris Wigfield
As outlined previously, the Administrators set a target for naming a preferred bidder by today. That goal was designed to create momentum, and it achieved exactly that.
We have received a number of strong, credible offers. That interest is extremely positive for the future of Sheffield Wednesday.
For various reasons, responsibly narrowing the field to one preferred bidder today has not proven possible.
We understand the supporters’ desire for clarity, and we share that urgency, but this stage of the process is critical. We must:
• maximise returns to creditors; and
• secure the right long-term owner for Sheffield Wednesday.
Rushing this stage would serve neither objective.
Discussions with bidders remain active, detailed and constructive, and momentum has not slowed.
We know this continues to be an incredibly challenging period.
We also know that uncertainty breeds anxiety.
That is why we remain committed to communicating openly, pushing for fairness, and protecting the long-term interests of Sheffield Wednesday at every stage.
We will continue to update you as soon as information can be shared clearly and accurately, and in the meantime thank you all for your patience, support and understanding.