Former Newcastle United owner Mike Ashley has formally entered the race to acquire Sheffield Wednesday with a substantial £20million bid for the struggling Championship club.
Multiple Parties Compete for Owls
Mike Ashley joins five other interested parties who have submitted formal offers to purchase the historic South Yorkshire outfit. The news comes after Daily Mail Sport exclusively revealed last month that the retail magnate was closely monitoring the situation at Hillsborough as administrators Begbies Traynor seek a buyer for the financially troubled club.
All bidding parties have provided proof of funding amounting to £50million, demonstrating serious financial capability to undertake the club's revival. In the immediate term, approximately £3million is believed necessary to satisfy outstanding creditor demands.
Ashley's Track Record and Competition
Ashley, who previously owned Newcastle United for 14 years before selling to Saudi Arabia's PIF for £300million, is considered a serious candidate given his extensive experience in football club ownership. During his tenure at St James' Park, he faced criticism from some supporters over investment levels but successfully maintained the club's Premier League status throughout his ownership.
The businessman has previously explored acquisitions of other football clubs including Coventry City, Derby County and Reading, indicating his continued interest in football investments.
Meanwhile, other bids have emerged from both domestic and overseas investors, creating a competitive bidding environment. In a surprising development, one interested party reportedly suggested a merger with cross-city rivals Sheffield United, though this proposal was immediately rejected.
Club Administration and Fan Support
Begbies Traynor, overseeing Wednesday's administration process, aims to enter a period of exclusivity with a preferred buyer by December 5. The administrators are working to secure the club's future while managing immediate financial pressures.
In positive news for club staff, sources close to Sheffield Wednesday have confirmed that wages will be paid on Thursday, a day earlier than scheduled. This provides relief for employees who endured difficult periods under previous owner Dejphon Chansiri, when salary payments were frequently delayed.
The club faces almost certain relegation to League One, currently sitting 18 points from safety with further points deductions anticipated. Despite the challenging circumstances, supporters have rallied behind the team since Chansiri's departure.
In a bid to generate additional short-term revenue, the club is offering a four-match package for December fixtures priced at £80, encouraging fan support during this transitional period.
Sheffield United's US owners COH Sports have also entered the narrative, contacting Wednesday's administrators while simultaneously engaging sports consultants Penwick to assess investment interest at Bramall Lane. The Americans have indicated openness to selling up to 20% of their club to investors with appropriate experience.
