The race to become Sheffield Wednesday’s new owner appears to be nearing its conclusion.
Wednesday have been for sale since late October, when former chairman Dejphon Chansiri was forced to put them into administration due to an unpaid £1 million HMRC payment.
Although the Owls were struck with an immediate 12-point deduction, which has subsequently been extended to 18 and effectively ensures their relegation to League One, up to 80 parties expressed an interest in purchasing them.
With the process nearing completion, Football League World has compiled the most recent news on Sheffield Wednesday’s takeover.
New bidders may come to the table.
It appeared that Wednesday’s takeover process was coming to an end, but the race may suddenly be wide open once again.
According to the Sheffield Star, some bidders were apparently scared off by the fanfare surrounding the takeover process, as well as the £30 million sum cited to buy the Owls.
After it became clear that Mike Ashley’s proposal for Sheffield Wednesday was less than that amount, with a willingness to accept a fifteen-point deduction next season, various other parties may renew their interest in purchasing the Steel City club.
This means that even if it appeared that a purchase was almost finished, the transaction may still be ongoing.
Storch family makes a fresh proposal.
The Storch family has surfaced as a potential takeover candidate in recent weeks, months after exploring the purchase of League One club Plymouth Argyle.
It was announced that they had linked up with US millionaire John McEvoy in a joint bid, putting them in a good position to compete against Ashley.
However, McEvoy has now dropped out of the process, forcing the Storch family to seek further support elsewhere before making another proposal.
According to reports, they were successful and remain a strong contender to become Sheffield Wednesday’s new owners.
James Bord drops out of the process.
After as many as 80 parties expressed interest in purchasing Sheffield Wednesday, the list was cut down to just three.
This trio consisted of Ashley, the Storch/McEvoy pair, and James Bord.
Bord is a former professional poker player who now owns a data analytics firm that employs AI to assist businesses on issues. Sheffield United have already used Bord’s services, but this did not prevent him from pursuing a takeover.
Although the former gambling specialist made the biggest offer for Wednesday, in excess of £35 million, worries over his funding and meeting the requirements of the EFL’s Owners and Directors Test have put them out of the running.
xz
