Ten buyers show proof of funds to acquire Sheffield Wednesday

Ten interested buyers have provided proof of funds to the administrators handling the sale of English Football League (EFL) club Sheffield Wednesday, as efforts to secure a new owner for the financially troubled Championship club intensify.

According to BBC Radio, a second potential buyer was given a tour of the club’s Hillsborough Stadium, following an earlier visit by another party last Wednesday.

A soft deadline of Friday, 21 November, 28 days after the club entered administration on 24 October, has been set for formal offers to be submitted.

Afterwards, a two-week negotiation window will run until Friday, 5 December, when administrators will confirm a preferred bidder.

For a sale to be completed, any buyer must pass the EFL’s Fit and Proper Person Test and complete due diligence.

Sheffield Wednesday currently sit bottom of the Championship on -4 points, having been docked 12 points by the English Football League (EFL) for entering administration. They next face Steel City rivals Sheffield United on Sunday, 23 November.

Administrators say the level of interest has met expectations, with 10 parties showing proof of funds in the £50 million range. However, they caution that not all will submit formal bids.

Significant investment will be needed beyond the purchase itself. Hillsborough Stadium requires major upgrades, and administrators are being transparent with prospective buyers about the scale of work and funding required to bring the club back to competitive standards.

“This is about finding the right long-term owner who understands the level of investment and patience needed,” explained Kris Wigfield, one of the administrators.

With relegation to League One looking likely, any takeover would be viewed as a rebuilding project rather than a quick turnaround. Still, examples like Birmingham City’s revival under new investors offer hope that progress can come swiftly with the right strategy.