Sky Sports News understands that there are two potential buyers for Sheffield Wednesday who have already shown proof to administrators that they each have at least £50m of funds to support the club financially going forward.
That was a minimum figure stipulated by the administrators for any interested party wishing to take over the club since Dejphon Chansiri placed it into administration a week ago.
It is understood that there have been 68 separate inquiries since the Championship club went into administration, with 25 of those given full access to the club’s accounts.
So far, two have proved they have sufficient funds to run the club, but the administrators envisage there will be more buyers who can prove the same over the coming days and weeks.
Only when they are satisfied that all serious and interested parties have made their position clear will they consider giving any individual company preferred bidder status.
Any interested parties will also have to pass the usual ID and money laundering checks before being considered. One source has told Sky Sports News that any parties going public in their interest are not serious bidders.
Sheff Wed players and staff paid ahead of schedule
Wednesday have also confirmed staff and players have been paid ahead of Friday, when monthly wages at the club were due.
A statement from the club read: “This marks a major step forward in stabilising the club’s operations and rebuilding trust both internally and with our supporters.
“We couldn’t have achieved this without the incredible backing of you, Wednesdayites. Your return to Hillsborough, the surge in merchandise and ticket sales, and your continued belief in the club have made this possible.”
Concerns remained this week that October payments could again be delayed after the club was placed into administration last week.
But the administrators running the club made great strides on Wednesday in terms of ticket sales and other incoming funds to improve the balance sheet ahead of pay day on October 31.
The development comes as a welcome relief to both the players and club staff at Hillsborough, who have been dogged by late, and in some cases, unpaid salaries on a regular basis for the past six months, before outgoing owner Chansiri put the club into administration.
But Sky Sports News has been told the administrators’ biggest priority this week had been to generate enough cash to be able to pay the wages of everyone at the club.
Begbies Traynor’s next target is to keep the business afloat and viable, whilst also engaging with serious would-be buyers, to put Wednesday on a sound financial footing for the future.
Solicitors are currently assessing the situation and it is understood Begbies Traynor will only consider bidders who show a proof of funds of at least £50m.
Ticket boost continues in show of unity
More than 27,000 fans bought tickets for Saturday’s game at home to Oxford United in a significant show of unity and support, the day after Chansiri’s tenure was ended. The attendance for that game was 22 per cent higher than for the previous home match.
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Highlights of the Sky Bet Championship match between Sheffield Wednesday and Oxford United
Begbies Traynor has appealed for fans to continue to dig deep into their pockets, and asked firms that have contracts with the club to pay their bills promptly, to help the club survive week-to-week and game-to-game.
The PFA has been liaising closely with Wednesday’s players, offering support and advice.
EFL rules dictate that the players’ contracts must still be honoured in full, despite the administrator taking control of the club, and that the players are entitled to claim any arrears, once the club exits administration.
The Wednesday squad has repeatedly been paid late for the last six months, and further sanctions from the EFL are expected for breaches of their rules under Chansiri’s stewardship, which have yet to be brought by the League.
That could mean further points deductions on top of the 12 points already subtracted from their total automatically, when the club announced it was insolvent last week.
Sky Sports News understands that a date has been set for a further disciplinary hearing, but that date has not been made public.
An independent commission will meet to decide any extra punishment for Wednesday in the near future, and the fact the club is now in administration makes no difference to those disciplinary proceedings.
There has been no comment from Sheffield Wednesday, the PFA or the administrators now running the club.
Owls captain Bannan admits administration comes as a ‘huge relief’
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Sheffield Wednesday captain Barry Bannan says he is hopeful that The Owls can bounce back after tough times
Meanwhile, Sheffield Wednesday captain Barry Bannan says it has been “a huge relief” since the club went into administration last week.
Speaking to Sky Sports, Bannan said: “I think at the minute it’s a huge sigh of relief. Obviously, the way we were going it was becoming difficult.
“Month by month we didn’t feel there was anything around the club that was positive, so when the news broke out last week, then obviously that begins a new start for the club.”
Read the exclusive interview in full here.
Wednesday’s nightmare three months
Sheffield Wednesday played in front of a sparse crowd during their Carabao Cup game against Leeds as fans protested against Dejphon Chansiri
June 3: The club and owner Dejphon Chansiri charged with breaching EFL regulations regarding payment obligations.
June 18: EFL imposes three-window fee restriction after exceeding 30 days of late payments between July 1 2024 and June 30 2025.
June 26: In a statement on the club’s official website, Chansiri said he was willing to sell the club.
June 27: Another embargo imposed on the club, relating to payments owed to HMRC.
June 30: Players and staff not paid on time.
July 17: Josh Windass and Michael Smith leave the club by mutual consent.
July 29: Danny Röhl leaves role as manager by mutual consent. The club were forced to close the 9,255-capacity North Stand at Hillsborough after Sheffield City Council issued a Prohibition Notice following a meeting with the local Safety Advisory Group.
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Speaking earlier this month, Sky Sports News’ Rob Dorsett explains what consequences Sheffield Wednesday face after they missed their deadline to pay senior players’ wages
July 30: Players and staff not paid on time.
July 31: Röhl’s assistant Henrik Pedersen signs a three-year deal to become the club’s new manager.
August 6: The EFL releases a statement explaining their stance on the situation. “We are clear that the current owner needs either to fund the club to meet its obligations or make good on his commitment to sell to a well-funded party, for fair market value – ending the current uncertainty and impasse.”
August 8: Transfer embargoes lifted after outstanding payments settled, but fee restriction remains in place.
August 10: The Owls lose 2-1 to Leicester in their Championship opener at the King Power Stadium.
August 13: Prohibition Notice on North Stand lifted after “necessary professional safety assurances.”
September 4: Wednesday fans launch protest against Chansiri outside Thai embassy in London.
September 30: Players and staff not paid on time.
October 4: Wednesday lose 5-0 at home to Coventry. Kick-off delayed after group of fans run onto the Hillsborough pitch in protest against Chansiri.
October 14: Players and staff receive outstanding wages from September.
October 16: News emerges of imminent winding-up petition over £1m owed to HMRC.
October 22: Wednesday fans boycott home game against Middlesbrough. No official attendance figure released.
October 24: Wednesday file for administration and receive 12-point deduction from the EFL.