Sheffield Wednesday’s joint administrator has confirmed there are “already four or five interested parties that look like the real deal” as the club heads toward new ownership.

The Owls, bottom of the Championship, went into administration on Friday and have been handed a 12-point deduction by the English Football League.

Kris Wigfield, joint administrator alongside insolvency firm Begbies Traynor, told BBC Five Live’s Wake Up to Money programme that new owners could be in place by the end of the year.

Wigfield said: “As always, you get a lot of interested parties that probably aren’t going to meet the criteria, but within the numerous inquiries we’ve had, we certainly think that there are already four or five interested parties that look like the real deal.

“There are two criteria that new owners basically need to satisfy to then open dialogue and there to be an opportunity where they can make an offer.

“The first thing is they need to show the administrators that they could make the football club viable. So they’ve got to show that they’ve got sufficient funds to be able to fund it for the next few years.

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“And secondly, we have to be satisfied that they will pass the EFL fit and proper persons test, and if they can satisfy both of those, then we’ll start talking to them seriously.”

Wigfield said that under EFL rules the club have to stay on market for 28 days, adding: “I’m hopeful that by the end of November, if things go well, we might know who’s going to buy the football club.”

Wednesday, whose financial problems under former owner Dejphon Chansiri reached crisis point in the summer, and were placed under various embargoes amid tax debts and failing to pay players and staff on time.