Mike Ashley preparing fresh move in Sheffield Wednesday takeover saga
Sheffield Wednesday remain in administration, but there may be hope on the horizon as businessman Mike Ashley is reportedly considering a move to buy the club.
The Owls had previously identified James Bord as their preferred bidder. However, the proposed takeover fell apart after Bord’s consortium concluded that the South Yorkshire club was worth less than the figure they had offered.
Meanwhile, Wednesday’s difficult season has already taken another blow. Their relegation to League One was confirmed following defeat to Sheffield United in last month’s Steel City derby at Bramall Lane.
The club have also suffered a major points deduction this campaign, losing 18 points during the season. Matters could get worse next year as well, with Wednesday facing an additional 15-point penalty unless new ownership meets the requirement of paying creditors at least 25p in the pound.
With the situation still unresolved, Ashley is now expected to table a revised offer soon as he weighs up a potential takeover of the struggling club.
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