Sheffield Wednesday’s protracted takeover saga may have come to an end last month when Arise Capital Partners completed a purchase of the South Yorkshire club, but that doesn’t mean Hillsborough fans won’t be interested in developments involving those who had hoped to seal a deal.

The Owls are currently entering a new and long-awaited chapter under the ownership of Arise, who, lead by David Storch, will attempt to restore the team in League One season after Dejphon Chansiri’s destructive reign in this area of Steel City.

Storch eventually won the race to acquire Wednesday and lead the club’s new era, but the American billionaire was not without opposition, as a number of parties launched their own bids to take over the then-Championship side when it went bankrupt late last year.

The recurring involvement of one leader, Mike Ashley, was particularly apparent, as the former Newcastle United owner attempted to return to sporting ownership on multiple occasions, including acquiring Wednesday.

Having emerged as a leading bidder in December before being displaced by James Bord, the collapse of that takeover rekindled Ashley’s pursuit, and the billionaire returned to the forefront with a reported £20 million bid.

That offer was subsequently surpassed by Storch, with the prospect of Ashley’s ownership of Hillsborough dividing Wednesdayites. With Storch’s takeover, it’s unlikely that Ashley will be in the running to acquire the Owls again, but the 61-year-old is still making exciting discoveries elsewhere in a new update.

Mike Ashley makes a £1.73 billion offer after losing out on the Sheffield Wednesday purchase.

After missing out on a takeover on Wednesday, Ashley is launching a dazzling new bid in a different direction. This time, he isn’t attempting to take over another team.

Instead, Ashley’s Frasers business is said by the BBC to have made a takeover approach for Hugo Boss, with the retail business already holding more than a quarter of the iconic German fashion brand after accumulating a stake in 2020.

Ashley is looking to make a big move on that front, and the group has now revealed its desire to buy the rest of the brand. It is estimated that such a purchase would cost €1.98 billion (£1.73 billion), with Hugo Boss currently preparing to rule on the offer.

If the acquisition is completed, Frasers will grow their empire even further, as Ashley’s company currently owns House of Fraser, Evans Cycles, Jack Wills, and Game, among other important companies. Hugo Boss, on the other hand, would be Ashley’s largest brand, and Frasers appears to be confident in its acquisition.

Frasers is getting near to the 30% ownership required to make an offer for the entire company after gradually increasing its shareholding percentage, and the group expects the buyout to be completed by the end of the year.

Frasers’ shareholding has risen so significantly that it is now close to the 30% ownership threshold required by German law to make a bid for the entire firm.

Hugo Boss, for its part, stated that the “unsolicited” bid had “not been coordinated with the company” and that it would “inform its shareholders and the public about further developments and next steps”.

Mike Ashley’s post-Sheffield Wednesday evolution is interesting.

Even though Ashley’s current takeover ambitions are unrelated to football clubs, and it’s uncertain whether the mogul would ever return to that path again, it’s interesting to see what he’s up to outside of the game.

Ashley has always been brash and ambitious in his commercial efforts, and if Frasers can close a deal to buy Hugo Boss outright, it would be a significant show of purpose from the ex-Newcastle figure.

They’re certainly confident in doing so, which may indicate the increasing possibility of that takeover being finalised following his failure to purchase the Owls.

For the time being, it will be interesting to observe how things progress, and while Ashley’s presence is no longer relevant to Wednesdayites, it still makes for an interesting and eye-catching update.