The 74-year-old took charge of Wednesday in 2010 with the club suffering from financial difficulties following relegation to League One.
While the former Portsmouth chairman wishes to relinquish control of the club due to "family and my business commitments", he also explained there are no offers currently on the table.
"What I can tell you is that yes, there is interest and as I have always said, I will continue to meet people who can potentially help us but there is nothing tangible at this time," Mandaric said in a statement.
"This is a big club, a special club with special supporters who expect and deserve to be given information. But there is nothing happening at the moment apart from interest and until that changes, I ask everyone to stick together as the one Sheffield Wednesday family."
Mandaric also sought to assure Wednesday fans that there would be no hasty decisions made with regards to the future of the club.
"Whether I am here for another month, a year or five years, I will perform the way I always have done until the last second with honesty, dignity and complete dedication," he continued.
"I love this club, I love the people here and we still have a long way to go - but we have also come a long way. We have built the foundations and have a strong infrastructure.
"This club is now financially strong, it is healthy and clean and I will ensure it remains that way. We must never forget the events of the past that threatened our future and while I am your chairman, we never will."
Wednesday are yet to secure a win in the Championship this season, having lost 2-1 to both QPR and Burnley in their opening two games of the league campaign.
Dave Jones' side also lost by the same scoreline to League One Rotherham United in the League Cup.
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