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Mike Ashley has been linked with a possible move to rescue financially troubled Sheffield Wednesday, four years after selling Newcastle United.
The Championship club could reportedly be just days away from entering administration, a situation that might open the door for Ashley to make a takeover bid.
Sheffield Wednesday are currently battling serious financial issues, with HMRC pursuing a winding-up petition over an unpaid tax bill of around £750,000, according to the Daily Mail. Meanwhile, unrest continues to grow among supporters, who have been staging protests against unpopular owner Dejphon Chansiri. On the pitch, the Owls sit just one point above the relegation zone, and the atmosphere at Hillsborough has become increasingly hostile.
Chansiri has reportedly set an asking price of around £40 million for the club — a figure many fans consider wildly unrealistic. However, if Sheffield Wednesday are forced into administration due to their tax troubles, control could be taken out of his hands entirely.
That scenario could benefit interested parties like Mike Ashley, who is said to be monitoring the situation closely. Administration would lower the club’s valuation, making it more accessible for potential buyers. The former Newcastle owner and Sports Direct founder has maintained an interest in football since offloading the Magpies in 2021.
Ashley has previously spoken candidly about his turbulent spell at Newcastle. In a 2019 interview with the Daily Mail, he admitted:
“I’m a negative to that football club. It’s not a secret. I don’t feel sorry for myself. It’s down to me, not Newcastle.
I give myself one out of five in some aspects because I made proper mistakes, and football isn’t a forgiving place. I didn’t just shoot myself in the foot — I blew my own leg off. People thought I’d gone mad. It’s so much bigger now than when I got involved. I thought £10m or £20m could make a difference, but now that’s nothing.
The truth is, I’m just not wealthy enough to own Newcastle. I genuinely believe you need £1 billion to compete at the very top.”
With Sheffield Wednesday on the brink, Ashley’s potential return to football ownership could soon become a reality — though fans of both clubs may have mixed feelings about that prospect.
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