The American businessman has previously expressed his interest in buying the Owls amid their financial woes as he remains in talks with current owner Dejphon Chansiri, who isn’t much loved by supporters.
Wednesday have failed to pay their players and staff on time for the fifth month out of the last seven, which has landed the club in five different embargos as well as a fee-paying transfer restriction until the summer of 2027.
Reports suggest that Chansiri is said to value the club at £100M but could accept a takeover bid as low as £70M after buying the club for just £30M back in 2015.
Textor promptly sold his shares in Crystal Palace to Woody Johnson after his multi-club ownership of Lyon was in viewed to be in violation of UEFA’s rules as both sides were due to play in the Europa League this season.
Things went from bad to worse for the club as manager Danny Rohl also departed the side just before the North Stand at Hillsborough was closed by Sheffield City Council due to concerns over its structural integrity.
Earlier this year, Textor opened up to the Sheffield Star about his next football venture and suggested that he wants to take Wednesday back to the top.
"It's true that I am looking for a traditional English club to buy, or with which I can partner…
"I just have not spoken with anybody at Sheffield Wednesday yet and I am monitoring the situation, hoping to better understand it.
"I'm definitely interested. It's a lot to solve in a short amount of time with regards to taking advantage of the transfer window, but it's definitely a club and community I would like to help.
"I often cite (Wednesday) as an example of what's wrong with football today.
"The lack of parity, because of the influence of money and I wish there was a system where the Sheffield Wednesdays of the world could be champions again."