The takeover is off - so what now?

Back to the drawing board.

Last Friday, we received information that an agreement had been reached with a party interested in buying Sheffield Wednesday. Multiple sources confirmed this, with a growing belief a takeover could actually be on the cards.

Later on Friday, we also discovered that Francesco Guardascione was part of a group pursuing a purchase of Sheffield Wednesday.

There were also reports in the national media of interest from Houston Rockets owner Tilman Fertitta but we could not find anyone to back this up.

We understand the prospect of a takeover played a part in the delayed transfer of Djeidi Gassama to Rangers.

By Monday, with that deal being widely reported in Scotland to be close to completion after all, the mood changed around a prospective takeover. Things appeared to have stalled.

There was belief that a potential buyer could provide an advance to pay outstanding bills. We understand that ended up not being the case.

With Gassama sold and fellow winger Anthony Musaba departing for Samsunspor in Turkey, players and staff were finally paid their wages for June on Tuesday.

So what now?

There are multiple parties showing interest in Sheffield Wednesday. However, even with the process being handled by a professional team with experience in selling football clubs, it's believed that negotiating a deal to buy the club is a challenging process. Words like 'unique' and 'unorthodox' are still used to describe negotiations.

We're back to a total lack of clarity on what the future holds.

Will further player sales be necessary to pay the bills? Is a points deduction from the EFL inevitable? Is the asking price to buy Sheffield Wednesday a stumbling block for any serious potential buyer? What happens to the North Stand, with a further SAG (Safety Advisory Group) meeting due on Friday where the subject will be discussed?

Dejphon Chansiri's legacy as Sheffield Wednesday owner is already set. He is overseeing a shambles.

It won't change anything now but trusting the right people to find a buyer, doing things the right way and enabling the club to move on will at least enable a line to be drawn. Is he prepared to do that?