The administrators of Sheffield Wednesday have issued the following statement update following today’s news that the preferred bidder has withdrawn from the process:
‘Joint Administrators of Sheffield Wednesday Football Club can confirm that the preferred bidder has informed us of its intention to withdraw from the acquisition process.
The offer from the preferred bidder was valued at £47.8 million and represented the highest and best proposal received during the structured sales process. It would have delivered a full exit from administration, enabling the Club to commence the 2026/27 season without any points deduction, and the strongest available outcome for creditors, including many local businesses owed money by the Club.
During the period of exclusivity, the preferred bidder provided in excess of £4 million to fund the trading of the Club. Those funds were used to support operations and ensure staff and players were paid on time.
As supporters will know, in January the Administrators took prudent steps to mitigate against the risk of delay or non-completion. As a result of those measures, the Club has the necessary funding in place to trade through to the end of the current season.
The withdrawal of this bidder does not mean we are returning to the beginning of the process.
We have already been contacted by other parties who previously participated in the sales process and who have reiterated their interest in acquiring the Club.
We are therefore moving immediately to re-engage with those bidders under a new expedited timetable.
Our focus remains unchanged:
- To secure the best achievable outcome for creditors
- To protect the Club’s long-term future
- To exit administration in a structured and responsible manner
Sheffield Wednesday continues to trade, fixtures will continue to be fulfilled, and staff and players will continue to be paid.
We understand that this news will be disappointing and frustrating for supporters. However, the Club remains operational, funded for the remainder of the season, and interest in the acquisition remains active.
We will provide further updates as soon as it is appropriate to do so.’
Kris Wigfield
Paul Stanley
Julian Pitts
Joint Administrators
Sheffield Wednesday Football Club
FAQs
What happens next?
We are immediately re-engaging with other parties who previously participated in the sales process and have communicated a new expedited timetable.
We will then move forward quickly with the strongest proposals. The process is continuing — it is not starting again from the beginning.
Are previous bidders still interested?
Yes.
We have already been contacted by other parties who were involved in the original process and who have reaffirmed their interest in acquiring the Club.
Will the regulatory process have to start again?
No.
Any new purchaser would still need to pass the EFL’s Owners’ and Directors’ Test. However, this does not mean the entire sales process resets to “day one”.
We have already conducted a structured process and due diligence exercise. We are not returning to first principles.
Is the Club financially secure for the remainder of the season?
Yes.
In January we took prudent steps to mitigate the risk of delay or non-completion of a transaction. As a result, the Club has the necessary funding in place to trade through to the end of the current season.
Fixtures will be fulfilled, and staff and players will continue to be paid.
Has the Club lost the money provided by the preferred bidder?
No.
The funds provided during exclusivity — in excess of £4 million — were used to support the trading of the Club during that period, including wages and operating costs. Those funds were not loans to the Club requiring repayment.
Why was the preferred bidder selected in the first place?
The preferred bidder was selected because their £47.8 million offer was the highest and best proposal received.
It represented the strongest available outcome for creditors and provided a clear pathway to exit administration.
Is administration likely to continue for a long time now?
Our focus is to progress the revised process swiftly and responsibly.
We have set a clear deadline for new indicative offers and will move forward without unnecessary delay.
What message would you give to supporters?
We understand this news will be disappointing.
However, the Club is funded for the remainder of the season, interest in acquiring Sheffield Wednesday remains active, and the sales process continues.
Our job is to protect the future of the Club and deliver a structured exit from administration. That work continues.
