Sheffield Wednesday’s takeover issue has taken a new turn with the announcement that a wealthy candidate has withdrawn out of the running to buy the club.
Wigfield claims “progress is being made” in acquisition talks.
Sheffield Wednesday went into administration almost two months ago, and they have yet to welcome new owners. A number of names have been linked with the club’s purchase, but the administrators appear to be taking their time to ensure that Dejphon Chansiri does not recur.
Co-administrator Kris Wigfield has insisted that “progress is being made” behind the scenes, despite the fact that supporters must wait for great news to emerge.
“We realize the frustration created by minimal communication at this time, but confidentiality is required to maintain the integrity of the process.
“Work continues behind the scenes as we seek to find a preferred bidder, and genuine progress is being made. Once that stage is reached, the EFL must finish its regulatory checks.
“We will provide updates as soon as possible while maintaining the integrity of the process.
“Thank you, as usual, for your continuing support. On behalf of everyone at Sheffield Wednesday and Begbies Traynor, I’d like to wish our supporters a Merry Christmas and, for the Football Club, a very happy New Year.”
Meanwhile, reports of potential new owners have continued to come. Earlier this week, the Daily Mail’s Mike Keegan said that the takeover has now been down to a “two-horse race” between Ashley and McEvoy.
Since then, however, there has been another twist. According to The Star’s Joe Crann on Saturday morning, McEvoy has now withdrawn from the contest to buy Sheffield Wednesday, but the Storch group has found a new partner at the last minute to move their bid forward.
McEvoy drops out of the Sheffield Wednesday takeover race.
The American billionaire has opted not to participate in the proposed purchase, but this will not prevent Storch from attempting to buy the club. It’s unclear who their new companion is.
Following the announcement, rumors indicate Ashley is now the frontrunner for a takeover and his first return to English football since selling Newcastle United to PIF in 2021.
McEvoy’s decision has opened up the race once again, potentially resulting in another point deduction for the Owls. According to Crann, some buyers are willing to come back in and accept a 15-point hit to invest more money in the present team.
Given that Sheffield Wednesday’s Championship relegation is almost certain, this could be a prudent long-term option. Whether the Storch company and their new partner complete the buyout remains to be seen.
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