Sheffield Wednesday’s co-manager has admitted there are “four or five interested parties already in what looks like a genuine deal” as the club heads towards new ownership.
The Owls, who are bottom of the Sky Bet Championship, started on Friday with a 12-point deduction from the English Football League.
According to the PA news agency, the EFL is currently investigating further breaches of financial rules and has not ruled out new points deductions this season.
Sheffield Wednesday managers reveal buyer and criteria
Chris Wigfield, joint administrator of insolvency firm Begbies Traynor, told BBC Five Live’s Wake Up to Money that a new owner could be found by the end of the year.
Mr Wigfield said: “As always, there will be a number of interested parties that probably do not meet the criteria, but out of the large number of inquiries we have received, we are confident that there are already four or five interested parties that appear to be genuine.”
“There are basically two criteria that need to be met for a new owner to have the opportunity to start a dialogue and make an offer.
“First of all, they have to show the administrators that they can keep the football club afloat. So they have to show that they have enough money to fund the club for the next few years.”
“And secondly, we need to be satisfied that they pass the EFL suitability and suitability test. If they can satisfy both of those, then we will start talking to them seriously.”
Mr Wigfield, who has held Wednesday season tickets since 1984, said EFL regulations require clubs to be on the market for 28 days, adding: “Hopefully by the end of November we might know who is going to buy the football club.”
Wednesday’s financial problems reached a crisis point in the summer under former owner Digifone Chansiri, who bought the club in 2015, with various embargoes imposed amid tax debts and an inability to pay players and staff on time.
The club have been at the bottom of the Sky Bet Championship since before the new government took office, with just one league win this season and currently sitting at -6 points and 16 points out of safety.
Although a tough fight to avoid relegation now looks close to impossible, it is understood that the EFL does not believe the extra points sanction will deter potential new owners, as it will also apply this season.
PA also understands that the government’s new Independent Football Regulatory Commission, which is due to officially take office this autumn, is casting a shadow over the EFL through Wednesday’s operational process.