Sheffield Wednesday takeover: 'Final offers' due as Mike Ashley, David Storch & Charlie Methven updates issued
Final offers for Sheffield Wednesday are reportedly set to be lodged this week - with frontrunners in the race having emerged.
The Owls have been in adminsistration since October, when the reign of Dejphon Chansiri was brought to an end.
It was hoped the club would be able to usher in a new era as quickly and seamlessly as possible, but it has been a protracted process.
A consortium led by James Bord were selected as preferred bidders on Christmas Eve, but withdrew from the process late last month.
The development rocked the Hillsborough faithful, although it soon became apparent there was strong interest in picking up the baton.
Sheffield Wednesday takeover latest
According to The Star, final offers for the club are due to be submitted to the adminstrators tomorrow (March 6).
Former Newcastle United owner Mike Ashley was in the running prior to Christmas Eve, as was American businessman David Storch. Both have retained interest and it has been claimed those who were interested early on have an advantage.
Admiistrators are thought to have already undertaken due diligence that will assist them in an ‘expediated process’, making Ashley and Storch frontrunners.
Ryan Howsam, who took a look at the Owls alongside Simon Jordan, has already indicated he is unlikely to become the club’s next owner.
Links to a group involving former Sunderland director Charlie Methven emerged earlier this week, sparking interest from fans. However, The Star have indicated the group feel time is against them given how deep into the process some of their competitors already are.
Bidding process
Our sister title’s report outlines the highest bidder will not automatically receive preferred bidder status.
As part of the process, administrators will reportedly consider how long each bidder would be expected to take to clear vetting proceedures.
If bids at a similar level are received, there may be a short period of negotiation. It will then be a case of ensuring the EFL and IFR (independent football regulator) are satisifed with the prospective new owners.
On-pitch matters
Against a backdrop of off-field matters, Wednesday are staggering their way towards the finishing line in the Championship.
Relegation to League One has already been confirmed but there is pride on the line and futures to be fought for in Wednesday’s stretched squad.
The Owls are due to return to action on Saturday (March 7), when they will make the trip to Derby County.