BREAKING: Sheffield Wednesday choose 'preferred bidder' after Mike Ashley interest as relegation looms

The future of Sheffield Wednesday has been uncertain, but after Mike Ashley expressed an interest in purchasing the club, a 'preferred bidder' has reportedly been chosen

The administrators overseeing the sale of Sheffield Wednesday "intend to grant preferred bidder status" to a consortium, the club has confirmed. The relegation bound Owls are stuck on -9 points, after automatically being docked 12-points for entering administration and then deducted a further six by the EFL.

The club entered administration in October which brought an end to the disastrous ownership of Dejphon Chansiri. Former Newcastle United owner Mike Ashley was understood to be one of the frontrunners to takeover the club, alongside a consortium led by Americans John McEvoy and the Storch family.

However, joint administrator Paul Stanley has revealed in a statement released on the club's website they intend on granting a consortium "prefered bidder status" now the initial bidding process has come to an end.

Stanley wrote: "Sheffield Wednesday can confirm that the administrators, Begbies Traynor, intend to grant preferred bidder status to a consortium following the conclusion of the initial bidding process.

"The decision to move forward with a preferred bidder has been taken following extensive financial, legal and forensic due diligence, supported by specialist advisors. That work has progressed significantly since early stages of the process and has included a detailed assessment of funding sources, ownership structure and governance."

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