Wilkinson agrees to stay on at troubled Wednesday

The former Owls manager had originally planned to step down this weekend after taking over on an 'interim basis' following the departure of Lee Strafford three months ago.

But with the club due at the High Court next week to face a winding up petition from HM Revenue and Customs over an unpaid 550,000 tax bill, Wilkinson does not wish to add to the current instability at Hillsborough.

"I just felt, having listened to the other directors, that we need a period of stability," he said. "Clearly we're not absolutely certain where this club will be in the next four weeks, three months, or 12 months so hopefully we'll get something resolved very quickly.

"Everybody knows that I have very strong feelings for this club and it is an honour to have played an active role this summer," he added. "We have faced a number of challenges, both on and off the field, but we are fortunate in having a terrific manager (Alan Irvine) who I'm confident can do the job."

"Off the field, (chief executive) Nick Parker and I have worked very closely, along with other members of the board, to try to ensure the long-term future of Sheffield Wednesday FC.

"I know that some of the news that we have to read this summer has not been pleasant, too much of it focused on the past, but we must start to look forward and put an end to the blame game."

The Owls released a statement yesterday afternoon confirming that Wilkinson, 66, would continue to act as chairman of both the club and the Plc board.

The club have yet to confirm whether the Football League has lifted a transfer embargo placed on the club over their failure to pay the taxman. Talks between Wednesday and potential investors have been going on all summer and two bids from the Chicago-based Club 9 Sports, who are now supported by the Sheffield-based promoter Dennis Hobson, have been rejected.

It has emerged that another consortium, led by two local businessman, are also close to tabling a bid after holding talks with the Owls during the last month. Millionaire Spencer Fearn, a lifelong Owls supporter from Rotherham, has also declared his interest.