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Kris Wigfield is at the forefront of the effort to identify new ownership after Dejphon Chansiri placed the Championship club into administration on Friday.
According to Wigfield, the Owls are required to remain on the market for a period of 28 days in compliance with EFL regulations, and he asserts they have already attracted genuine interest.
During an appearance on BBC 5 Live's Wake Up to Money programme, he expressed his hope that new owners would be established in time to acquire new players during the January transfer window.
Wigfield commented, "Typically, there are numerous interested parties, many of whom might not meet the specified criteria; however, among the various inquiries we've received, we genuinely believe that there are already four or five parties that seem promising."
"There are two fundamental criteria that prospective owners must meet in order to initiate discussions and have the opportunity to submit an offer."
"The first requirement is that they must demonstrate to the administrators that the football club can be financially sustainable. They need to provide evidence of having adequate funds to support it for the coming years."
"The second criterion is that we must be convinced they will satisfy the EFL's fit and proper persons assessment. If they fulfill both conditions, then we will engage in serious talks with them."
Since Friday, fans have raised £500,000 to support the club.
Wigfield is optimistic that the sale process will progress swiftly, potentially allowing a group to achieve preferred-bidder status next month, with the aim of finalizing the acquisition of Wednesday before the year concludes.
"According to EFL regulations, we are required to market the club for 28 days," he stated. "It will take at least 28 days before we can approach a preferred-bidder status."
"So, I’m hopeful that by the end of November, if things go as planned, we may have clarity on who will be purchasing the football club."
"With any luck, a transaction can be finalized within this calendar year, ensuring the new owner is ready for the January transfer window, provided the EFL permits the new owner to make player signings."
On Saturday, Wednesday supporters returned in droves after a previous boycott, resulting in a season-high crowd of 27,261 attending the 2-1 defeat against Oxford at Hillsborough.
Wigfield noted that fans have already contributed over £500,000 through ticket purchases and club merchandise to help sustain the Owls.
"We started with no funds, but the fans have already injected more than half a million pounds since Friday by purchasing tickets and merchandise," he remarked.
"The reaction has been remarkable, yet we need to continue raising funds to cover wages due next Friday."
"Therefore, more tickets will go on sale today for the upcoming home matches, and we urge fans to keep supporting the club. The situation is quite challenging, but it is essential for us."
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