Sheffield Wednesday‘s administrators have advanced in their timeline to find a new owner for the club, with Mike Ashley in the final 3 bidders left.
The Owls have been searching for a new owner since the ousting of Dejphon Chansiri last month, with multiple interested parties making themselves known to administrators Begbies Traynor. It was believed that 11 parties have submitted proof of funds since the 24th of October, and now that number has been knocked down to 3.
In the interim between Chansiri’s departure and now, fans of the club have rallied around the team in their moment of need, leading to wages being covered for both November and December. It has also seen transfer restrictions lifted on the club, with former Leeds United defender Liam Cooper joining this week as a free agent.
Ashley’s Competition Revealed
In a new report from the i paper, the identity of 2 of the 3 finalists has been revealed, with widely expected bidder Mike Ashley in the mix to take over the club. Best known for his stint owning Newcastle United, the Sports Direct and Fraser Group owner was a disliked figure in the latter stages of his time on Tyneside.
However, he faces another experienced sports owner in American businessman John McEvoy. Founder of a mobile company in his native US, McEvoy has stakes in both Major League Soccer’s Colorado Rockies and the National Hockey League’s Nashville Predators. It is not his first attempt at entering the EFL ownership space, being reported as a potential buyer of Coventry City and the CBS Arena in 2022, with the latter being eventually purchased by Ashley.
The final party that are set to submit a letter of intent to administrators is an Indonesian consortium, with no further details revealed about this group. These letters will begin to be sent to Hillsborough from tomorrow.
On the field, Wednesday return to footballing action with the Steel City Derby on Sunday, with a result vital for either side after the turbulent starts to the season. The Owls are currently 13 points behind 23rd-placed Norwich City, and a further 4 points from safety.
Is Ashley The Right Man?
Of course, Mike Ashley has his fair share of critics with his ownership of Newcastle, being viewed as someone who was happy to keep the club in the Premier League at a maximum. He perhaps has an advantage over his other competitors being a known figure in English football, meaning he could be the quickest route to securing a new owner with some stability behind them.
It has been his strategy to target grief-stricken clubs in the past few years, being linked with both Derby County and Reading since his sale of Newcastle to the Saudi Arabian PIF consortium in 2021. At a time when the club needs to find its feet after years of chaos, Ashley might be the best prospective owner to bring just that.
