[Washington]

Administrators statement

The Joint Administrators of Sheffield Wednesday Football Club can confirm that the preferred bidder has informed us of its intention to withdraw from the acquisition process.
The offer from the preferred bidder was valued at £47.8 million and represented the highest and best proposal received during the structured sales process. It would have delivered a full exit from administration, enabling the Club to commence the 2026/27 season without any points deduction, and the strongest available outcome for creditors, including many local businesses owed money by the Club.
During the period of exclusivity, the preferred bidder provided in excess of £4 million to fund the trading of the Club. Those funds were used to support operations and ensure staff and players were paid on time.
As supporters will know, in January the Administrators took prudent steps to mitigate against the risk of delay or non-completion. As a result of those measures, the Club has the necessary funding in place to trade through to the end of the current season.
The withdrawal of this bidder does not mean we are returning to the beginning of the process.
We have already been contacted by other parties who previously participated in the sales process and who have reiterated their interest in acquiring the Club.
We are therefore moving immediately to re-engage with those bidders under a new expedited timetable.
Our focus remains unchanged:
To secure the best achievable outcome for creditors
To protect the Club’s long-term future
To exit administration in a structured and responsible manner
Sheffield Wednesday continues to trade, fixtures will continue to be fulfilled, and staff and players will continue to be paid.
We understand that this news will be disappointing and frustrating for supporters. However, the Club remains operational, funded for the remainder of the season, and interest in the acquisition remains active.
We will provide further updates as soon as it is appropriate to do so.

That bid was ridiculous but since the Admins have to do their best for the creditors can understand why it was accepted. Bord was obviously serious since he’s just thrown $4m our way for no return now.