Sammy Yu, the consortium leader who is interested in taking over the Owls, kept track of the club by watching the team play at QPR.
He sat in an area reserved for official guests at Loftus Road.
Wednesday chairman Milan Mandaric told The Star it was “natural” for Yu to be there but there has been little progress towards a takeover and other parties remain interested.
Mandaric was also encouraged by the team’s performance and is pledging progress for the club “one way or another,” this season.
“Yes he (Yu) was at the game; there is nothing wrong with that; it is natural, he is interested in the club,” said the Owls chief.
“I would do the same if I was in his position.
“But there is not much progress to report. If anything is to be done we have to make sure it is done properly.
“We are progressing already - we signed two players last week; we’ll sign more and make the team even more competitive.
“I’’m not excited about anything on the ownership side unless I have something that’s right for me and club.
“We’re going to make progress this season, one way or another.”
Manager Dave Jones praised the team’s display at QPR and slammed referee Scott Mathieson for denying them two penalties in the 2-1 defeat
Mandaric said: “We showed that our team is gelling. We aim to sign another striker and a midfield player, and we’ll be a good, competitive side. I am encouraged but we were unfortunate: the referee was not our friend.”
An angry Jones, who was twice in hot water with the FA last season, says though he is trying to be neutral this season he will refuse to hold back from criticising officials if necessary as part of his drive to see refereeing standards improved.
“What are they going to do me for, for the referee getting it wrong and me speaking my mind?
“We have been told by the LMA and the referees’ society not to talk about it. But something has to be done.”
He suggests greater communication between referees and clubs, and visits by referees to clubs so they can “know the game” as well as know the rules.
Jones defended Michail Antonio and Jacques Maghoma against any charge of diving, saying that opponents made contact with them in each of the penalty incidents: .
“Michail does not go down, He does not try to cheat. He is such an honest boy. If he can stay up, I guarantee he will. He’s distraught as he knows it was a penalty, as does Jacques Maghoma.”