Barry Bannan: Takeover Could Bring a Fresh Boost for Sheffield Wednesday

Sheffield Wednesday captain Barry Bannan believes a fresh ownership era could give the club a much-needed lift as takeover talks continue near a decision.

Wednesday are in administration since October, ending the long-running ownership era of former chair Dejphon Chansiri. Administrators have stressed that confidentiality remains essential, but they are hopeful about naming a preferred bidder in the near future.

Speaking ahead of the potential reveal, Bannan expressed cautious optimism that a new owner could arrive within days. He said the squad desperately needs a boost after a challenging run of results and that the team must use any good news to change momentum.

Two bids in the running

In late November, the process had narrowed to around two serious offers. One comes from former Newcastle United owner Mike Ashley, while the other is a joint American bid led by businessman John McEvoy in collaboration with the Storch family. The total bill to settle creditors and administration costs is reported to be around £35 million.

Crucially, if the new owner fails to meet at least 25p in the pound for unsecured creditors, the club faces a point deduction under English football rules. A shortfall could trigger a 15-point penalty at a time set by the EFL, complicating Wednesday’s path back to safety and making a promotion push even tougher.

Should the Owls start next season in League One with a higher points deficit, the road back to the Championship could be steep, a fate the club has avoided only by close margins in past seasons.

Stadium and finances: a big job ahead

Any new ownership would also need to fund upgrades at Hillsborough, where the North Stand was briefly closed for safety checks earlier this year. A full stadium and training ground modernization plan would be a priority for a fresh regime seeking long-term stability.

Ashley’s potential return to football, should he win the bid, would mark a notable comeback after his former ownership of Newcastle United from 2007 to 2021. While his tenure at Newcastle was controversial for some fans, he also earned a reputation for keeping clubs within budget. Other clubs, including Coventry City, have seen his investment in action through related ventures.

No excuses, just results – Bannan

Wednesday have endured a heavy points penalty tally this season: 18 in total from administration and regulatory breaches. The EFL confirmed no further sporting sanctions for this season, but the squad's form remains a major concern. With just one win in 20 league matches, Wednesday sit bottom of the Championship and are 29 points from safety.

Bannan acknowledged the need for better performances and emphasized that excuses have no place. He pointed to a small squad size, limited substitutions, and the ongoing impact of absences and injuries as challenges, while stressing a renewed focus on improving results.

Recent signings, including free agents Liam Cooper and Nathan Redmond, have helped bolster the squad. The team now faces a busy Christmas period with several fixtures in a short stretch, making external support in January even more welcome.

The captain hopes a takeover could be concluded in time to aid the January transfer window, enabling the team to reinforce and start building a winning run.

Expert view

Expert comment: A credible takeover could stabilize finances and unlock much-needed investment in players and facilities. Final approval hinges on the EFL and how creditors are treated in the final deal.

Summary

Sheffield Wednesday are awaiting a decision on their takeover as administration ends a turbulent chapter for the club. Barry Bannan says the squad needs a fresh owner to provide a genuine boost, with two bids still in play. The potential deal carries significant financial and competitive implications, including possible point deductions and large upgrades to Hillsborough. Fans remain hopeful that January could bring reinforcements and improved form, provided the new owners can move quickly.

Key insight: A decisive takeover could stabilize finances, rebuild the squad, and spark a much-needed upturn in results, but success depends on timely approval and creditor settlements. BBC Sport

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