[Maddix]

John Flanagan is a member of an US-based consortium which has made bids to purchase the club. He spoke to BBC Radio Sheffield on Tuesday about where they currently stand.

"We originally approached the team back in April with an offer. That offer was promptly rejected," Flanagan said.

"After a couple of weeks of seeing some new developments with the club, we went back with an improved offer about a week-and-a-half ago. That offer was also rejected, also with no counter-offer.

"Our offer we thought was a fair offer with upfront money but with some significant, we will call them kickers, on the back end should the club be able to achieve certain successes."

Flanagan added it was the Owls' history which drew his attention to the club and that the "goal is to rebuild the foundation of Sheffield Wednesday", but as it stands, he and his consortium are no closer to taking ownership.

As for what it has been like to try and purchase the side, the American said it has been a "unique" experience for him.

"It's been a bit surprising. I've done a lot of business, had a lot negotiations throughout my career, and this has been the most unique to say the least," he added.

"It may be a cultural thing that I'm not understanding, every country is a little bit different in how they do business negotiations, but I was a bit surprised that even on the second offer, we were basically told if this is what you are willing to spend, then go and buy a League One or League Two club."

He just needs to wait a season then