Sheffield Wednesday have appointed financial services giants Deloitte Touche to 'actively seek' a buyer for the club.

The Owls, who have reported debts of £27million, announced in February that

they had been approached by a consortium headed by Lancashire-based businessman

Geoff Sheard.

A second consortium, fronted by former Boston chairman Jon Sotnick, have been

reported to be ready to make their own bid to purchase the club.

But the club confirmed last week that they had 'not at this time received any

offer proposal from any party that is sufficiently clear or developed'.

A further club statement released this morning read: 'The board continues to

be open to dialogue with any bona fide offeror and to working to develop any

acceptable proposal such that it can be presented to the company's shareholders

for their consideration.

'While certain discussions are still ongoing, there can be no certainty that

a formal offer to shareholders will be forthcoming.

'As a result, the board have now requested that its financial adviser,

Deloitte & Touche LLP actively seek a buyer that shares the board's vision for

the long-term success of the club.'

The statement added: 'There is no certainty that such a party will be found

at this time.

'The company will keep shareholders informed as to progress with this process

as appropriate.'

The Owls have been involved in a season-long struggle in the

Championship and avoided relegation to League One for a second time in five

years with a last-day win over Norwich.