Barry Bannan: Owls Need Takeover Boost as Bid Nears

Sheffield Wednesday stand at a crossroads as the club remains in administration. Captain Barry Bannan says a fresh takeover could provide the much-needed boost for the Owls, both on and off the pitch.

Two bids remain in the race

Joint administrators Kris Wigfield and his team say progress is being made toward naming a preferred bidder, with confidentiality rules in place during the process. At the latest stage, two offers remain: one from former Newcastle United owner Mike Ashley and another from an American-led consortium featuring businessman John McEvoy and members of the Storch family.

Financial stakes and possible penalties

The sale is expected to cover creditors and administration costs around £35 million. If the winning bid falls short, unsecured creditors would be paid at least 25p in the pound, and the club could face a 15-point deduction under EFL rules. The deduction would typically be applied at the start of the next season.

Squad challenges and the road ahead

Wednesday sit bottom of the Championship with a nine-point deficit after the deductions. They have won only one league game this season, and the squad has been stretched after key departures and injuries. The club recently brought in free agents Liam Cooper and Nathan Redmond to bolster numbers.

Bannan’s view and the January window

The captain stressed there is no time for excuses and that the team must start winning soon. He added that a takeover ahead of January could help by enabling new signings and sparking a late-season run.

Expert perspective

Expert comment: A new owner could stabilise the club and spark a positive run, but success depends on EFL approval and the buyers’ long-term plans. In the meantime, the team must improve performances and results.

Summary

Wednesday remains in administration and sit bottom of the Championship, facing a difficult path back to safety. Two bidders are still in the mix, with Mike Ashley’s group among the contenders. A sale would need to resolve debts and satisfy league rules, with the January transfer window in sight. Supporters await clarity on who will lead the club next.

Key insight: A timely takeover could change Wednesday’s fortunes, but success hinges on debt settlement and league approval. Source: BBC Sport

Discover the latest news and current events in Sports News as of 19-12-2025. The article titled " Barry Bannan: Owls Need Takeover Boost as Bid Nears " provides you with the most relevant and reliable information in the Sports News field. Each news piece is thoroughly analyzed to deliver valuable insights to our readers.

The information in " Barry Bannan: Owls Need Takeover Boost as Bid Nears " helps you make better-informed decisions within the Sports News category. Our news articles are continuously updated and adhere to journalistic standards.