Sheffield Wednesday boss Alan Irvine has been told that the club will not be going into administration, reports the Yorkshire Evening Post. The Owls have only four days left to secure the funding needed to fight off a winding-up petition lodged by Her Majesty's Revenue and Customs in the High Court.

Leicester City chairman Milan Mandaric has dismissed reports suggesting he was looking to invest at Hillsborough but Deputy Prime Minister Nick Clegg has offered political assistance to chairman Howard Wilkinson.

The consortium involving former manager Chris Turner remains in the frame.

The Owls will be docked 10 points by the Football League if they enter administration - which could plunge the club to the bottom of the League One table.

However, speaking ahead of today's home game with Rochdale, Irvine revealed that he had been given assurances from Wilkinson and chief executive Nick Parker that administration will be avoided.

"I have been told, all the way along, that we won't go into administration so I am hoping that proves to be the case," he said.

"At no point have I been told 'this is looking like we are going to go administration'. It has always been a case of 'we don't think we will'.

"The threat of administration has been hanging over us for sometime now," he added, "We all know the implications and, if it happens, we can only get on with our work and deal with whatever situation we have to face. But it's been a good week so far and, hopefully, we will get a good result against Rochdale to make it a fantastic week."