Sheffield Wednesday has been placed under financial embargos five times in the last seven months due to late payments, and is also restricted from making transfers until 2027. The club's owner, Dejphon Chansiri, is estimated to value the club at £100 million, but may be willing to accept a lower bid.

Textor sold his shares in Crystal Palace after a multi-club ownership arrangement was deemed to be in violation of UEFA rules. He has previously stated his desire to take a traditional English club to the top, and has expressed admiration for Sheffield Wednesday's community and potential.

In an earlier interview, Textor mentioned that he was looking for a club to partner with or buy, and that he was monitoring the situation at Sheffield Wednesday. He wants to help the club overcome its financial struggles and become a champion again.

Textor believes that Sheffield Wednesday is an example of the problems in modern football, citing the influence of money and the lack of parity between clubs.