"A soft deadline of Friday, 21 November - 28 days from when they were placed into administration on 24 October - has been set for offers to be given to the club. There will then be a two-week negotiating period with a deadline of Friday, 5 December set to determine preferred bidder status. In order for a deal to be completed, a buyer would then need to satisfy the EFL's Fit and Proper test plus complete due diligence."
"The administrators expected double figures for showing proof of funds for 50m. Now the question is how many of those parties make an offer. Fans will need to recognise that showing proof of funds does not guarantee all 10 will eventually make a bid. There is a lot of work to be done at Wednesday. Hillsborough Stadium, for example, is going to need significant work done to it."
"Potential buyers will need to work out how much it is actually going to cost to buy the club and the infrastructure work needed to get the Owls on par with their peers shouldn't be underestimated. Kris Wigfield, one of the administrators, explained to us last week that they will be honest with potential buyers about the depth of work and investment required, in order to try and find the best possible new owner."
Ten parties have provided proof of funds to administrators at Sheffield Wednesday. A second party was shown around Hillsborough Stadium after an initial potential buyer was given a tour. A soft deadline of 21 November has been set for offers, followed by a two-week negotiating period ending 5 December to determine a preferred bidder. Any buyer must satisfy the EFL's Fit and Proper test and complete due diligence. Wednesday sit bottom of the Championship on minus four points after a 12-point automatic deduction for entering administration. Hillsborough requires significant work and infrastructure upgrades. Administrators will be honest with buyers about investment needs and note that proof of funds does not guarantee a bid.
Read at www.bbc.com
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