Former Newcastle United owner, Mike Ashley, has reportedly made a £20 million bid to acquire Sheffield Wednesday. This news comes in the wake of the Championship club's financial struggles and subsequent administration.
Sheffield Wednesday entered administration in October under former owner Dejphon Chansiri. This unfortunate turn of events left the club with a 12-point deduction and struggling at the bottom of the table. The Telegraph reports that this predicament has prompted Ashley's interest in purchasing the beleaguered club.
Administrators Begbies Traynor are currently evaluating multiple serious bids for Sheffield Wednesday. These include two from American consortiums, alongside Ashley's offer. The firm is no stranger to football takeovers, having handled several such transactions in the past. The administrators have set a deadline for naming a preferred bidder by December 5th. Any potential buyer must provide proof of £50 million in funds to proceed with their bid.
Return to football ownership?
Mike Ashley, aged 61, has not owned a football club since he sold Newcastle United back in 2021. Despite this hiatus from football ownership, his name has been linked with other clubs including Derby County and Reading.
Ashley’s bid represents an opportunity for him to return to football management after his departure from Newcastle United last year. His experience as an owner could potentially bring stability and financial security back to Sheffield Wednesday - something that would be welcomed by fans and players alike. As we await further developments on this story, it is clear that these are crucial times for Sheffield Wednesday as they look towards securing their future both on and off the pitch. Sheffield will return to Championship action on Wednesday night at Millwall amidst these uncertain times.
While it remains to be seen who will emerge as the preferred bidder for Sheffield Wednesday, Mike Ashley's bid certainly adds an interesting dynamic to the ongoing saga. His previous experience in football club ownership could prove beneficial for the struggling club, but only time will tell if his bid is successful and what this would mean for Sheffield Wednesday's future.
