Sheffield Wednesday takeover: Ex-Newcastle United owner Mike Ashley to lodge 'revised bid'
Former Newcastle United owner Mike Ashley is reportedly set to lodge a revised bid for Sheffield Wednesday.
The Owls have been in administration since October, when Dejphon Chansiri was ousted.
A consortium led by James Bord raced to the front of the queue to buy Wednesday, zooming past Ashley and a clutch of other interested parties to secure preferred bidder status.
However, the Bord-led consortium’s withdrawal late last month has blown the race wide open again.
Mike Ashley latest
Ashley is believed to have retained interest and according to The Telegraph, will submit a fresh bid.
The 61-year-old, who owned Newcastle between 2007 and 2021, is said to have tabled an offer worth around £20m in November.
His main competitor is said to be American businessman David Storch, who was vocal about his interest earlier in the process.
Supporters will be keeping a keen eye on developments as there is a chance the club could end up with a 15-point deduction in League One next season.
In order to avoid the sanction, the new owners must pay creditors 25p for every £1 owed.
Final bids for Wednesday are expected before the weekend, meaning it could be an eventful few days over in S6.
Warning to interested parties
Stefan Borson, a former adviser to Manchester City, recently warned of the huge challenges Wednesday’s new owner will face.
He said: “People have forgotten this is a very difficult situation to go into. They are going to be relegated.
“They almost certainly now are going to have a 15-point deduction next season as well because the lower bid is going to mean that the unsecured creditors are not going to have what they need.
“So, you’re going to have a situation where you immediately bought the club, you celebrate for about five minutes and then you realise that actually then the hard work begins. It is going to be a slog. It’s not going to be straightforward.”