As the EFL gets ready to loosen a crucial rule, John Textor contacts Sheffield Wednesday.

American millionaire John Textor has contacted Sheffield Wednesday regarding acquiring the team after it was put into administration last Friday.

The fact that many people in the club will be relieved to be in administration rather than under Dejphon Chansiri’s ownership says much about the Owls, who knew for a while that the inevitable was coming. After a time in which players and staff were frequently underpaid, his ten-year ownership has finally ended.

Even if Sheffield Wednesday has suffered on the field, there may be some hope for the future. After receiving an immediate 12-point deduction, Henrik Pedersen’s team is now on -6 points and facing an uphill battle to continue in the Championship.

Gary Lineker is among the many who have voiced their opinions over the penalties imposed by the EFL. “They have obviously gone into administration, and hopefully they can sort it all out,” the former Match of the Day host said on The Rest is Football podcast. However, they are now on -6 after receiving a 12-point penalty.

“I can see why clubs must endure consequences, but it seems to me like kicking a club when it’s at its lowest point. This doesn’t sit well with us; we’ve experienced it with other clubs. The fans seem to bear the brunt of the punishment.

The EFL is prepared to loosen its 21-day insolvency rule in order to expedite any possible sale, and Julian Pitts, Kris Wigfield, Paul Stanley, and Begbies Traynor have been named joint administrators with the responsibility of finding a suitable buyer for the club.

Sheffield Wednesday contacts John Textor.

Reporter Alan Myers claims that Textor has now contacted Sheffield Wednesday’s administrators over a possible purchase agreement.

After selling his Crystal Palace shares in the summer, the American billionaire has also been connected to Wolverhampton Wanderers, indicating that he wants to make an investment in English football.

Nevertheless, Sheffield Wednesday ought to exercise care. The last thing they need is another challenging ownership after recently ending a terrible relationship with Chansiri.

When Textor quit his post as Lyon’s manager after the team was demoted to Ligue 2 due to financial difficulties, it made headlines. Despite their recent return to France’s top division and Textor’s continued ownership from a distance, supporters strongly objected to his daily duties.

“This club is in disarray because of John Textor. There isn’t another way to put it. One of the worst owners, he has squandered money, fired management, and hired the wrong people.

“I’m not sure how you’re going to escape this. This is a horrible situation to be in if you’re Lyon. (When Lyon was first demoted, Julien Laurens, a French football specialist for Sky Sports)

Although a rematch at Sheffield Wednesday is not assured, the Owls must make sure Textor is a good fit for them if they want to join his list of teams.

Administrators at Sheffield Wednesday disclose requirements that owners must fulfill.