To purchase Hillsborough and Sheffield Wednesday, Mike Ashley or John Textor would need to shell out a significant sum of money.
After a torturous year under Dejphon Chansiri’s leadership, during which the club suffered greatly due to his financial mismanagement, the Owls were forced into administration last month.
During five of the final seven months of his rule, players were not paid on time, which caused important operators like Michael Smith, Josh Windass, and Djeidi Gassama to leave Hillsborough.
Under the Thai businessman’s supervision, Wednesday was subject to five embargoes that restricted their summer inflows to loan agreements for Harry Amass and Ethan Horvath, respectively.
They will now almost certainly suffer the drop to League One, especially as they were automatically docked 12 points for entering administration.
However, this hasn’t stopped prospective purchasers from looking into the possibilities of owning the club.
Due to his prior football participation, former Newcastle United manager Mike Ashley has been heavily connected to a move to take over Wednesday, with evidence of cash being no problem.
US businessman John Textor is another name that is apparently interested in purchasing the Owls. He sold his Crystal Palace stake in the summer and is seeking a way to return to the English game, and Wednesday is thought to be his favored option.
How much it would cost for Mike Ashley or John Textor to purchase Hillsborough and Sheffield Wednesday
The cost of buying Sheffield Wednesday has been estimated at several different levels, with Ashley apparently interested in a £10 million deal.
However, any prospective buyer might have to pay far more than that, according to a recent revelation from writer Alan Nixon via Patreon.
Nixon claims that the estimated £50 million cost of purchasing Hillsborough and Wednesday when they were in administration includes debt repayment and handling former owner Chansiri.
The £50 million amount is obviously far more than Ashley was intending to pay, even though it is significantly less than the £100 million Chansiri was allegedly seeking prior to entering into administration.
The Thai investor paid £30 million for Wednesday in 2015, therefore even if they are currently in insolvency, their sale ten years later would bring in a lot more money.
The expense of Sheffield Wednesday could make Mike Ashley, but John Textor might not mind.
For any prospective buyer, taking over Sheffield Wednesday would be an incredible opportunity because of their tremendous fan base and history in the game.
But if it will cost him £50 million, Ashley might reconsider purchasing the Steel City team.
The former Newcastle United manager undoubtedly won’t be happy to have to pay five times as much to complete a deal as he had wanted to for an initial purchase of £10 million.
If Textor is serious about Wednesday, he might be in a better position to close the purchase because he was able to raise £175 million after selling his Crystal Palace investment.
As a result, it remains to be seen if Ashley is prepared to shell out that much cash to take over Wednesday or if Textor will intervene to complete a deal.
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