Sheffield Wednesday's joint administrator has said there are already "four or five" viable potential buyers

Sheffield Wednesday's joint administrator has confirmed there are "already four or five interested parties that look like the real deal" as the club head toward new ownership.

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

The EFL is also understood to be currently investigating further breaches of its financial regulations and has not ruled out another points deduction this season.

Kris Wigfield, joint administrator with 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.

"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, a Wednesday season ticket holder since 1984, said that under EFL rules the club have to stay on the 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's financial problems under former owner Dejphon Chansiri, who bought the club in 2015, reached crisis point in the summer and they were placed under various embargoes amid tax debts and failing to pay players and staff on time.

The club were bottom of the Sky Bet Championship even before going into administration, with just one league win this season, and are now on minus six points, 16 from safety.

A tough battle to avoid relegation now appears to be nigh on impossible but it is understood the EFL does not think a possible further points sanction would deter potential new owners as it would also be applied this season.

It's also understood that the Government's new Independent Football Regulator, due to formally take office this autumn, is shadowing the EFL throughout Wednesday's administration process.

Sheffield Wednesday hoping for quick sale but could face further points deductions