Sheffield Wednesday are looking for a new owner after Digiphone Chansiri put the club into administration – and a familiar face is reportedly interested in the Owls
Former Newcastle owner Mike Ashley is reportedly interested in becoming manager of struggling Sheffield Wednesday. The Owls went into administration last week as they owe £1m to HMRC and the race to find new owners has now begun.
Thai businessman Daejpon Chansiri will be his successor, and administrators hope to establish new ownership by the end of the year. Wednesday sit bottom of the Championship, 16 points out of safety, after receiving a 12-point deduction from the EFL for a number of EFL misconducts.
This means future owners are likely to invest in the soon-to-be League One club. But that hasn’t stopped more people from coming forward, with joint administrator Chris Wigfield revealing on Monday that there were “four or five” serious bidders.
Interested parties will need to demonstrate that they have the funds to keep the club afloat and can pass the EFL’s fit and proper ownership test. The Daily Mail reported that Mr Ashley was weighing his options after becoming aware of the possibility of taking over on Wednesday.
read more: Sheffield Wednesday face further deductions in new blow to Crisis clubread more: Sheffield Wednesday targets ‘four to five’ serious bidders as sale date announced
The 61-year-old businessman owned Newcastle from 2007 to 2021 and specializes in buying distressed assets. His time with the Magpies was highly controversial, with supporters repeatedly protesting his ownership due to perceived lack of investment.
Ashley sold the club to the Saudi Arabian Public Investment Fund for £300m four years ago and Forbes pegs his wealth at $5.7bn (£4.29bn), although the Sunday Times reported the figure at £3.12bn earlier this year. He made money by founding retailer Sports Direct. Sports Direct later became Frasers Group and he remains a director of the company.
Chansiri paid Wednesday £30m in 2015, but it remains unclear how much this time around given the amount of his debts. But Wigfield is confident there will be no shortage of buyers.
Mr Wigfield told BBC 5 Live’s Wake Up to Money: “As always, there are a number of interested parties who probably won’t meet the criteria, but we certainly believe there are already four or five interested parties out of the number of inquiries we’ve received that we think are genuine.”
“There are two criteria that the new owners basically have to meet in order to open a dialogue and have the opportunity to make an offer. Firstly, they have to show the management that they can keep the football club afloat. So they have to show that they have enough funds to fund the next few years.”
“And secondly, we need to be satisfied that they pass the EFL suitability and suitability test. If they can satisfy both of those, then we will start to have serious conversations with them.”
He added: “Under EFL regulations we have 28 days to market the club.” “Therefore, it will take at least 28 days to get close to preferred bidder status. So we are hopeful that we may know who will buy the football club by the end of November, if all goes well.”
“And if the EFL allows the new owners to sign players, we hope that a deal can be signed this year and the new owners can get it in time for the January transfer window.”
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