Former Newcastle United owner Mike Ashley is reportedly considering a takeover bid for Sheffield Wednesday, who entered administration last week after failing to settle a £1 million debt to HMRC. The Championship club is currently at the bottom of the table, 16 points adrift of safety after a 12-point penalty for financial breaches, meaning any buyer may be acquiring a future League One side.
Joint administrator Kris Wigfield confirmed on Monday that 'four or five' genuine contenders have emerged, with prospective purchasers required to demonstrate sufficient financial backing and pass the EFL's fit and proper persons test. The Daily Mail suggests Ashley is evaluating his options after learning of the acquisition opportunity at Hillsborough.
Ashley, 61, owned Newcastle from 2007 to 2021 and has a track record of buying struggling businesses. His tenure at St James' Park was divisive, with fans protesting against his stewardship. He sold the club to Saudi Arabia's Public Investment Fund for £300 million in 2021. Forbes values his fortune at $5.7 billion (£4.29 billion), while the Sunday Times estimated it at £3.12 billion earlier this year.
Thai businessman Dejphon Chansiri, who bought Wednesday for £30 million in 2015, faces removal. Administrators aim to complete a sale before the end of the year, with a 28-day marketing period required under EFL rules. Wigfield expressed hope that a preferred bidder could be identified by the end of November, allowing a deal to conclude within the calendar year.
