Sheffield Wednesday are losing £5million a year, the npower Championship club's owner Milan Mandaric has revealed.

The Owls retained their status in the second tier last season, securing an 18th-place finish following promotion from League One.

Mandaric is open to finding a buyer for Wednesday but the former Portsmouth and Leicester owner insists he is in no rush to do so unless the right candidate comes along.

"This club is losing money, probably around £5million and next year won't be any different," he told BBC Radio Sheffield.

"I'm not just looking for any buyer, I'm looking for the right buyer who can take this club where it wants to go.

"There are a lot of people who come and have a look at the club but we're not pushing to sell the club at the moment.

"I said before if someone proper comes along and they are the right person for the club then I will step aside.

"I sold Leicester for less money than what I had invested but they were the right people and I felt like my mission was completed."