A significant milestone in the battle to take control of Sheffield Wednesday will be reached on Friday, with would-be buyers are required to submit their first bids to the club’s administrator, Begbies Traynor.

Sources involved in the process have told The i Paper that since 24 October when Wednesday were placed in administration , informal negotiations have led to 11 interested parties providing proof of funds.

At least two groups have travelled to Sheffield for a tour of Hillsborough, although how many will bid remains to be seen.

One source claimed that of the potential buyers who have been given access to the club’s accounts and data room, three or four are likely to emerge as serious contenders.

Those wishing to bid are required to submit a Letter of Intent – along with det

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