After Sheffield Wednesday were pushed into administration by former owner Dejphon Chansiri, the competition to take control of the Championship club has intensified.
Chansiri’s chaotic ten-year spell at Hillsborough ended last month when both the club and the company through which he owned the stadium were placed into administration, following prolonged financial issues that had left Wednesday in disarray.
With a depleted squad caused by numerous high-profile departures over the summer, relegation already seemed likely. But the 12-point deduction that followed administration has made it almost inevitable that the Owls will be competing in League One next season.
Despite their difficult situation, interest in buying the club has been strong. Administrators have already received proof of funds worth £50 million from 11 different parties.
Several well-known figures have been linked with a takeover, including former Crystal Palace co-owner John Textor, ex-Newcastle owner Mike Ashley, and American billionaire John McEvoy. With a clear timetable now outlined, there is optimism that a deal could be finalised before the end of the year.
Under EFL rules, the club must stay on the market for 28 days after entering administration. However, a soft deadline of Friday, November 21 has been set for bids, with a preferred buyer expected to be selected by Friday, December 5 following two weeks of negotiations.
New developments regarding John McEvoy’s takeover attempt
While fans may recognise the names Textor and Ashley from their involvement in English football, McEvoy’s bid has generated its own excitement and curiosity.
McEvoy, who previously explored buying Coventry City, currently owns minority stakes in the NHL’s Nashville Predators and MLB’s Colorado Rockies, as well as in the entertainment company Various Artists.
He recently toured Hillsborough as part of his interest in acquiring Wednesday, sparking rumours that he had moved into the leading position. But that does not appear to be accurate.
According to The Star, McEvoy’s visit does not mean he is the frontrunner. At least two other groups have also toured the stadium recently, including a mysterious American consortium who were shown around last Thursday after attending Wednesday’s 1–1 draw with Norwich City.
Although McEvoy may not be the favourite, he clearly has a genuine interest in buying the club. A clearer sense of who the main bidders are could arrive soon, with joint-administrator Kris Wigfield saying he hopes “concrete offers” will be made once initial enquiries are narrowed down to serious contenders.
A message to Sheffield Wednesday fans as the takeover continues
After months of instability, Wednesday fans are understandably eager to learn who the next owner will be. But the limited information being leaked suggests the process is being handled correctly.
What is obvious is that several credible, well-financed parties are interested in the club. Supporters should feel encouraged that the Owls appear likely to end up in safe hands, even if the lack of updates is causing anxiety.
With next Friday’s deadline for formal bids approaching, it shouldn’t be long before a clearer picture emerges. However, the priority remains ensuring thorough due diligence is carried out to prevent the club ending up with another unsuitable owner like Chansiri.
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