Wednesday takeover administrators designate ‘preferred bidder’ status to consortium
The administrators overseeing Sheffield Wednesday have declared their intention to assign preferred bidder status to a consortium in connection with the club’s takeover. Sky Sports had earlier reported that Begbies Traynor was aiming to name a “preferred bidder” this month, but despite extensive negotiations with several interested parties, none had distinguished themselves sufficiently to advance through the process.
However, it has now been confirmed that this phase has concluded, and a consortium boasting “existing experience in football ownership” has been chosen to proceed with exclusivity.
The agreement is still pending approval from the EFL, which entails passing the governing body’s owners’ and directors’ assessment. Sheffield Wednesday is currently positioned at the bottom of the Championship, burdened with a total of nine negative points after an 18-point deduction earlier this season.
Sheffield Wednesday statement “Sheffield Wednesday confirms that the administrators, Begbies Traynor, are planning to grant preferred bidder status to a consortium following the completion of the initial bidding round.
“The move to advance with a preferred bidder has been made following extensive financial, legal, and forensic due diligence, supported by specialist advisors. This work has advanced considerably since the early stages of the process and has included a thorough evaluation of funding sources, ownership structure, and governance.
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“Assigning preferred bidder status does not equate to finalizing a change in ownership. Any prospective acquisition remains entirely contingent upon the completion of requisite legal agreements and EFL approval, which includes passing the owners’ and directors’ test. The administrators will withhold finalizing any sale until all these conditions are met.” The EFL has informed the administrators that this review will be comprehensive and will not adhere to a fixed timetable. This is both appropriate and expected, and we completely endorse this process.” The consortium we are looking to collaborate with has put forth the most compelling overall proposal for the club. “The consortium also comes with pre-existing experience in football ownership, encompassing both majority and minority stakes in clubs functioning within regulated league systems.”
Published: 2025-12-24 16:00:00
source: www.skysports.com
