As Sheffield Wednesday continue to search for a new owner, former Newcastle United man Mike Ashley is planning to step up his pursuit of the Owls.
Newcastle United fans will know all about Mike Ashley from his tumultuous time at the club, but he could well be the next Sheffield Wednesday owner soon enough.
If you could say ONE thing to Sheffield Wednesday fans about Mike Ashley’s ownership, what would it be?
The Owls have been through the mill this summer, with Dejphon Chansiri’s financial issues plunging the club into disarray. They are now in administration and desperately seeking a new owner to carry the club forward.
Mike Ashley may have many regrets from his time at Newcastle, but has he learned anything from that experience? Will he do things differently at Sheffield Wednesday? And will he even get the chance to? Here’s the latest.
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What’s next for Mike Ashley and Sheffield Wednesday?
As per a report from the Sheffield Star, Ashley is still firmly in the running to take over at Sheffield Wednesday, but he will need to improve his bid.
At the moment, it’s thought Ashley has an offer of over £20m on the table right now. However, another interested party is believed to have bid over £30m as things stand.
It was hoped a preferred bidder would be found by 5 December, but that deadline has now passed. Administrator Kris Wigfield said that “strong, credible offers” are in play.
The race to take over as Sheffield Wednesday owner has narrowed down, apparently. While five or six bidders were initially in the running, there may now be just two parties, including Ashley.
American businessman John McEvoy and a private equity firm backed by the Storch family have merged their offer in an attempt to rival Ashley’s bid. But, with the EFL’s administration rules, at least £30m will need to be paid to avoid further points deductions for the Owls.
It’s said that we could know a lot more about a preferred bidder by the end of next week. Unless a clear winner is found, we could even see a blind bidding process where interested parties give their final offer and the highest bid wins.
Obviously, the EFL will need to do their due diligence as well, but they are thought to be pushing this process through quicker than standard in an attempt to resolve the situation as soon as possible.
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What was your lowest moment under Mike Ashley at Newcastle?
Plenty to choose from 😂
Two relegations, one stadium rebrand, plenty of cup exits and Dennis Wise….
Is Mike Ashley right for Sheffield Wednesday?
Ask any Newcastle United fan and they’ll tell you how much misery the Mike Ashley era brought them. Between trying to rename St. James’ Park, hiring Dennis Wise, and getting the club relegated, there are some pretty bleak memories.
However, from a purely financial point of view, Ashley might just be the ideal candidate for Sheffield Wednesday. The club needs stability and a cash injection; with Ashley’s net worth thought to be over £3bn, he can certainly offer the latter.
Ashley often acquires a football club with the goal of making a profit, which is not necessarily what Sheffield Wednesday fans would want to hear. However, at least they can be assured he would get the club’s finances in order, even if it is probably more for his own benefit.
Relegation seems certain for Wednesday this season, but going down to League One and having Ashley’s financial might behind them, it surely wouldn’t be long before the Owls get back to where they belong.
He may only be a short-term fix, but at this point, Sheffield Wednesday simply need a solution, and fast.
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